Ubi Franklin Recounts Heartbreaking 2024 Losses: "Food Business Demolished, Lost Another Investment"

• Ubi Franklin has shared some of the challenges he faced as a businessman in 2024 in several posts on his Inst story
• In one of his posts, he explained how a business was brought to the ground after government demolished the property
• In another post, he mentioned the number of millions he was owing because the building he leased was collected from him
• Speaking in a chat with Legit.ng, Olushola Olaniyi, an accountant said Franklin suffered a lot of losses

Former artist manager and businessman, Ubi Ekapong Ofem, better known as Ubi Franklin, has recounted the things that gave him heartbreak in 2024.

In several posts on his Instagram story, the man, who begged Samklef over beef with Davido said that he lost his burger and finger food business.

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According to him, he got approval from the necessary authorities before setting up the business. However, he got a call one day that the place had been demolished by the government.

He explained that he was planning to move to another location, but was making his due diligence first before making the final move.

Ubi Franklin shares another business loss

In the another post, he explained that he leased a building from another man in 2023 to set up another business. When he did, the wife of the man was not around, and he didn't know that they were joint signatory to their businesses.

When she returned, she kicked him out and said the contract was null and void.

The businessman, who was called a nanny by Davido explained that he had invested N69million in the business. He borrowed N20 million and lost everything after his contract was revoked.

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Ubi franklin also said that while he was trying to settle with the couple, the investors started dragging him over the money he borrowed from them.

Franklin encouraged himself that he would come out of the challenges as he confessed some scriptures in his posts.

Olaniyi says Franklin will recover his losses

He said:

“Franklin really suffered a great loss in 2024. Though there is a chance for him to recover, but it will take a lot of time to do that."

Ubi Franklin speaks about Davido

Legit.ng had reported that an old video of the Nigerian music mogul and record label owner talking about his relationship with Davido and his wife, Chef Chi, had re-emerged online.

In the viral clip, Ubi noted his thoughts about Davido, Chioma and the special bond they share, which transcends the business relationship they have together.

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Franklin added that his loyalty, love, and bond with Davido and Chioma were unconditional

Source: Legit.ng