Monarchs N3M Largess - Island Club Chairman And Members At War Over Sharing Fomular.

Island Club, one of the most prestigious clubs in Lagos State which counts among its members prominent Lagosians including Governor Babatunde Fashola,is embroiled in a huge battle over a N3million cash gift.

The war of attrition is between Club Chairman, Prince Demola Dada and some members who have now decided to raise issues with what they call the greed of their influential chairman.

An insider revealed to The Light News that Prince Dada had led a couple of members to Abeokuta, Ogun State on a courtesy visit  to one of the first class monarchs of the Rock City. 

After all the tete a tete and felicitation, the monarch reportedly gave the Island Club team a parting gift of N3million-and that is where the palaver began.

First, the Chairman came up with an innovative sharing formula. He said he would take N1million as Head of Delegation  and then offered N500,000 to all the others on the team to distribute amongst themselves  while N1.5m was to go to the club.

As expected, the others were unhappy, and decided to reject the N500, 000. Then, they insisted that the whole of the N3m is for the club and should be paid into the Club account. 

The matter had caused factions within the club and the Chairman has promised to deal with all those who want to challenge his authority.

On the other hand, the other members are now teaming up with some elders of the Club who have long been plotting to scuttle the third term ambition of Prince Dada.

 This group have allegedly garnered a lot of supporters, and come next elections, they have vowed to show Prince Dada the door if he attempts to return as Chairman, Island Club.culled

*greedy chairman LMAO!