Business

Chairman of Energy Group, Jimoh Ibrahim sacks company’s MD, DMD On live TV as Staffs protest 11 months salary debt

Published

9 years ago

January 18, 2016

The Chairman of Energy Group, Barrister Jimoh Ibrahim, has announced the sacking of the Managing Director and Deputy Managing Director one of his companies, Newswatch Daily, Moses Jolayemi and Makinde Bankole.
However, both Jolayemi and Makinde had resigned before the bizarre manner of the termination of their employments on a live television programme on Monday morning by Ibrahim.
While Jolayemi, popularly known as Black Moses, had resigned from the company since last year, Bankole resigned last week.
Bankole’s resignation, without any notice, was said to have angered Ibrahim, hence the resort to the purported termination of their appointments on live television.
Bankole, the Deputy Managing Director of the controversial publication, has been acting as the MD since the exit of Jolayemi as the MD/Editor-in-Chief before he also resigned last week.
Ibrahim, at a training conference of his companies, aired live on the Nigeria Television Authority and African Independent Television, pointed at one of the trainees, asking him to go and take over the leadership of Newswatch Daily.
He said anyone who knew Jolayemi and Bankole should tell them that they had been relieved of their duties.
He said Newswatch was his only company that has been unable to meet its salary obligations.
This is however far from the truth.
While Newswatch Daily owes its workers 11 months salary, another of his publications, National Mirror, also owes staff eight months salary.
Staffs of NICON Insurance are also being owed salaries.
They stormed the venue of the conference on Monday to protest the non-payment of their salary.
Ibrahim, however, said he would be willing to assist the new helmsman of Newswatch Daily for the first first months in the saddle, adding that after this, he has to contend solely with running the company.
Staffs are quick to point to the undue interference of Ibrahim as one of the reasons why the media outfits are failing.
Jolayemi and Bankole are not the first set of leaders of Ibrahim’s companies to resign over his managerial style.
The first MD/Editor-in-Chief of the rejuvenated National Mirror, Abiodun Rauf, resigned in controversial circumstances also.
So also did Steve Ayorinde, who is now the Commissioner for Information and Strategy in Lagos State, resigned from National Mirror.
Popular politician, Kafilat Ogbara, equally resigned from National Mirror over the same issue.

Business

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal

Published

19 hours ago

December 21, 2024

Sahara Weekly

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal

…As Dangote Refinery partners MRS to sell PMS at N935 per litre nationwide at its retail outlets

Sahara Weekly Unveils That The Foremost entrepreneur and President of the Dangote Industries Limited, Aliko Dangote has commended President Bola Ahmed Tinubu for the positive impact of the naira for crude swap deal on the Nigerian economy, which has led to reduction in prices of petroleum products in the country.

To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers.

“To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre” he added. This price has already commenced in Lagos, and it will be offered nationwide from Monday.

In his statement, he called on other oil marketers such as the NNPC Retail and all other marketers, “to work with us to ensure that Nigerians enjoy high-quality petrol at discounted prices.”

According to him, “The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high quality petrol at cheaper prices. Our aim is for all Nigerians to have ready access to high quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.

Recall that in September, the Federal Executive Council (FEC) under the leadership of Mr. President approved the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira. The move, which commenced on October 1, led to reduced pressure on the dollar and ensured the stability of the local currency.

Dangote thanked Nigerians for their unwavering support and the government for creating an enabling environment for the domestic refining industry.

Business

Port Harcourt Refinery Stays Active: NNPC Denounces Sabotage Rumors

Published

1 day ago

December 21, 2024

Sahara Weekly

Port Harcourt Refinery Stays Active: NNPC Denounces Sabotage Rumors

NNPC Debunks Shutdown Rumors, Confirms Port Harcourt Refinery Fully Operational

The Nigerian National Petroleum Company Limited (NNPC Ltd) has dismissed reports circulating in certain media outlets claiming that the Old Port Harcourt Refinery, which was re-streamed two months ago, has been shut down.

In a statement released by Olufemi O. Soneye, the Chief Corporate Communications Officer of NNPC Ltd, the company clarified that the refinery is fully operational. The statement noted that the facility’s operational status was recently verified by former Group Managing Directors of NNPC during a site inspection.

“Preparation for the day’s loading operation is currently ongoing,” the statement confirmed, emphasizing that allegations of the refinery’s shutdown are baseless and intended to create panic or artificial scarcity in the fuel market.

NNPC Ltd urged members of the public to disregard such misleading reports, labeling them as the work of those seeking to exploit Nigerians.

The Old Port Harcourt Refinery has been in operation since its re-streaming, and the company remains committed to ensuring stability in the supply of petroleum products across the country.

Business

Nigerian Banks Donate Multimillion Naira Relief Materials to Jigawa Flood Victims

Published

2 days ago

December 20, 2024

Sahara Weekly

Nigerian Banks Donate Multimillion Naira Relief Materials to Jigawa Flood Victims

In a show of solidarity, the Committee of Banks in Nigeria has extended a helping hand to victims of the September 2024 floods in Jigawa State. On Thursday, a high-profile delegation led by Dr. Oliver Alawuba, Chairman of the Committee and Group Managing Director/Chief Executive Officer of United Bank for Africa Plc (UBA), visited Dutse, the state capital, to present relief materials to the state government.

The donated items, worth several million Naira, included essential food supplies such as rice and cooking oil, along with mattresses and beverages. Dr. Alawuba highlighted that the gesture aimed to alleviate the hardship faced by flood victims and support critical institutions, especially public hospitals, in their efforts to assist those affected.

“We stand in solidarity with the people and government of Jigawa State during this difficult time. This donation is our way of expressing empathy and supporting those who have lost loved ones, properties, and livelihoods,” Dr. Alawuba stated.

The delegation included notable banking leaders such as Mr. Roosevelt Ogbonna of Access Bank Plc, Dame (Dr.) Adaora Umeoji of Zenith Bank Plc, and Dr. (Mrs.) Nneka Onyeali-Ikpe of Fidelity Bank Plc, among others. Their collective presence underscored the banking sector’s commitment to corporate social responsibility and national development.

Governor Malam Umar A. Namadi expressed profound gratitude for the donation, describing the visit as a rare and commendable act of compassion. He assured the delegation that the relief materials would be judiciously distributed to the intended beneficiaries, emphasizing the importance of partnerships in rebuilding lives and communities.

The Committee of Banks also reiterated their commitment to supporting Nigerians during emergencies, drawing attention to previous interventions, including relief efforts during the 2011 and 2013 floods, the COVID-19 pandemic, and security initiatives like the Lagos State Security Trust Fund.

This humanitarian gesture reflects the collective resolve of Nigeria’s financial institutions to foster social and economic growth, making a meaningful impact in times of need.