Former Chief Executive Officer of Newswatch Communications
Limited, Mr. Ray Ekpu, yesterday, told a Federal High Court sitting in Lagos,
that only a part of his retirement benefits was paid to him, after Mr. Jimoh
Ibrahim acquired majority shares of the company.
Limited, Mr. Ray Ekpu, yesterday, told a Federal High Court sitting in Lagos,
that only a part of his retirement benefits was paid to him, after Mr. Jimoh
Ibrahim acquired majority shares of the company.
At the resumed hearing in the suit by two minority
shareholders, Mr. Nuhu Wada and Prof. Jibril Aminu, who are
challenging the method through which Ibrahim acquired the majority shareholding
of the company, Ekpu under cross-examination by Ibrahim’s counsel, said that
Ibrahim cheated him by refusing to pay him a balance of N30 million of his
retirement benefits.
shareholders, Mr. Nuhu Wada and Prof. Jibril Aminu, who are
challenging the method through which Ibrahim acquired the majority shareholding
of the company, Ekpu under cross-examination by Ibrahim’s counsel, said that
Ibrahim cheated him by refusing to pay him a balance of N30 million of his
retirement benefits.
“The sum of N79 million was paid to me out of N109 million.
During his meeting with me and four other directors, he called on the accountant
who read the figures to us. The figures were less than what we expected to be
paid and we had since submitted our request for regularisation to the board on
May 5, 2011.
During his meeting with me and four other directors, he called on the accountant
who read the figures to us. The figures were less than what we expected to be
paid and we had since submitted our request for regularisation to the board on
May 5, 2011.
“When we told him that the figures were less than what we
expected, he said that was the only money available. He just paid us what
he wanted and still insisted on collecting 10 per cent as tax, the receipt of
which he never gave us,” he told the court.
expected, he said that was the only money available. He just paid us what
he wanted and still insisted on collecting 10 per cent as tax, the receipt of
which he never gave us,” he told the court.
Ekpu said efforts to make Ibrahim to pay the balance
through correspondences yielded no result, while defence
counsel, tendered as exhibits, copies of a Memorandum of
Understanding, MoU, containing the names of other companies under the Newswatch
group.
through correspondences yielded no result, while defence
counsel, tendered as exhibits, copies of a Memorandum of
Understanding, MoU, containing the names of other companies under the Newswatch
group.
The MoU also disclosed how much was paid to other directors.
Further hearing in the matter, was adjourned till March 18.
Aruda and Aminu, in the suit, had accused the new management
under Ibrahim of systematically working to kill the company’s main product,
Newswatch weekly magazine and replacing same with daily newspapers, to be published
by a newly incorporated company – Newswatch Newspapers Limited, an
organisation in which Ibrahim’s company, Global Media Mirror Limited owns a
majority shareholding.
under Ibrahim of systematically working to kill the company’s main product,
Newswatch weekly magazine and replacing same with daily newspapers, to be published
by a newly incorporated company – Newswatch Newspapers Limited, an
organisation in which Ibrahim’s company, Global Media Mirror Limited owns a
majority shareholding.
ABEOKUTA-NIGERIA Union of Local Government Employees, NULGE
in Ogun State, yesterday, called off its one week old strike over unpaid
salaries, leave allowances and pensions.
in Ogun State, yesterday, called off its one week old strike over unpaid
salaries, leave allowances and pensions.
While it lasted, it paralysed activities at the 20 Local
Government Areas in the state.
Government Areas in the state.
NULGE in a statement jointly signed by the State
President, Alhaji Tajudeen Olusesi and Secretary, Mr. Bamidele Oyeniyan,
said the indefinite strike action had been called off.
President, Alhaji Tajudeen Olusesi and Secretary, Mr. Bamidele Oyeniyan,
said the indefinite strike action had been called off.
According to the statement, “ After appraisal of the
agreement signed with the State Government side, I am directed to inform all
and sundry that the ongoing strike is hereby suspended with immediate effect.
In the light of this therefore, all local government workers in the state are
hereby requested to report to their duty post as from Thursday (today).
agreement signed with the State Government side, I am directed to inform all
and sundry that the ongoing strike is hereby suspended with immediate effect.
In the light of this therefore, all local government workers in the state are
hereby requested to report to their duty post as from Thursday (today).
“ All local government staff, including Primary School
Teachers will receive their monthly salaries as their counterparts in the state
civil service not later than 26th of each month. All deductions made from
salaries of local government workers shall henceforth be remitted to the
appropriate agencies and organizations.”
Teachers will receive their monthly salaries as their counterparts in the state
civil service not later than 26th of each month. All deductions made from
salaries of local government workers shall henceforth be remitted to the
appropriate agencies and organizations.”
Source: Vanguard
