THE MANY TROUBLES OF JIMOH IBRAHIM'S MAGAZINE COMPANY. STAFFERS OWED SALARIES, MASS RESIGNATION IMMINENT

Court officials, assisted by policemen, on Friday sealed off the office of Newswatch magazine.
The magazine arm of the media business of Lagos-based lawyer and Chief Executive Officer of Energy Group, Jimoh Ibrahim, was sealed as early in the morning. Court bailiffs took away the computers and other equipment of the magazine.

Before the place was sealed off there have been an uneasy calm in the magazine arm of Barr Jimoh Ibrahim media business, inside source revealed that the staff have since stopped coming to work as they are owed backlog of unpaid salaries. "I never knew it would take this long before this happen, we have been expecting this, we are been owed salaries and their is no hope it would be paid. The purpose is just to frustrate some of us out of the place, I work from home," an inside source divulged

The magazine has been a source of litigation between Ibrahim and the owners – Ray Ekpu, Dan Agbese, Yakubu Mohammed and Soji Akinrinade. In October last year, a Federal High Court in Lagos had quashed the Share Purchase Agreement transferring ownership of Newswatch Communications Limited to Global Media Mirror Limited owned by Ibrahim.

The court also awarded N15.7 million damages against Ibrahim and other respondents in the suit.
Justice Ibrahim Buba also made an order halting further publications of Newswatch Daily, which has now been rechristened Newswatch Times, among other reliefs sought by the petitioners.