How MD of Newswatch got fired on live TV by Jimoh Ibrahim

The Group Managing Director of Energy Group, Jimoh Ibrahim, has terminated the appointment of the managing director of one of his companies, Newswatch Media Ltd, Bolu Afolayan.

Jimoh Ibrahim sacked, the Newswatch MD on Monday, during a live broadcast on Africa Independent Television.

The event where the unexpected firing of Afolayan took place, was the 5th Energy Group GMD Conference held at the Nicon Luxury Hotel, Abuja.

Afolayan’s termination was as a result of the protest of workers of the National Mirror and Newswatch Times, who besieged the hotel to complain about their 9-months salary arrears.

The placard-carrying workers were chanting solidarity songs as the live transmission of the event ensued even as Jimoh Ibrahim appeared indifferent to the protests of the workers.

After a few minutes of the protest failing to abate, he instructed the security operatives present, to take the protesters out of the venue.

He then proceeded to speak on the issue: “These are staff of the National Mirror who cannot generate their own salary, and they expect the company to make money from the company to pay them. Is that practically okay? That is not possible. I have said it that any arm of the group that cannot generate money to pay its salary would be shut down.”

“What we are telling our friends in the media department is that they must be sustainable.If you are not profitable, you cannot be sustainable. Profitability is a key issue in continuity. If you are in media and you cannot generate your own salary, where do you expect the payment of your salary to come from?”

“There is no democracy in corporations. Any corporation talks about democracy in corporation will fail. Democracy works in government. In government, the issue is service to the people. But, in corporation, it is about strategy, profits and survival. It does not matter how. Jimoh Ibrahim cannot be a nice man all his life. But, he needs to take a decision, no matter who is down.”

After announcing the sack of the newspaper MD, Ibrahim immediately appointed Demola Abimboye to replace Afolayan as the new managing director.


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