Unless a superior reason prevails, controversial businessman and Publisher of National Mirror and Daily Newswatch Newspapers, Barrister Jimoh Ibrahim, may shut down National Mirror.
Daily Review Online gathered from authoritative sources who pleaded for anonymity that the decision to shut down the Newspaper is based on the advice that the paper is financially not viable and should be shut down while efforts should concentrated on Daily Newswatch.
“He has not hidden his intention to staff about his intention to close down the newspaper. He said he has been holding himself against the advice by his advisors that he should close the newspaper and concentrate efforts in moving the Newswatch brand forward. The publisher said Daily Newswatch was doing better than National Mirror in terms of being financially viable,” our sources said.
It was gathered that the Publisher was not happy with the revenue generation profile of National Mirror as compared to Daily Newswatch. “This last October I Independence Anniversary, he said the advice by his team of advisors was confirmed when Daily Newswatch gathered more advertisements (about 11 pages) compared to National Mirror (10 pages). He did not hide his anger and has told top staff of the newspaper that unless the situation changes and the newspaper fends for itself, he would have no option but to close the place down.”
Already, a lot of staff are said to be jittery and are making moves to move to other media houses before they are taken unawares. Some of them are also complaining of the harsh work environment, particularly, among the senior staffs, who say they are being reminded daily on the need to generate income from their beats as this was the primary reason for which they were employed.
Recently, Ibrahim demoted the Editor of the Daily National Mirror, Seyi Fasugba.
Also, while a warning was issued to the Managing Director of the National Mirror, Steve Ayorinde, and the other title editors never to travel out of Lagos, the operational base of the newspaper, without his permission, Executive Director (Editorial) of his second newspaper, Newswatch Daily, Femi Ige was unceremoniously sacked for using a photograph the publisher considered offensive to his interests.
The planned shutting down of National Mirror may also not be unconnected the order of a US District Judge Katherine Forrest to Jimoh Ibrahim, to pay over $10 million for failing to meet his obligations on two aircraft he leased for the operations of his Nigerian air traffic business that is now grounded. Ibrahim had personally guaranteed the leased aircraft on behalf of his defunct airline, Air Nigeria.
“His companies are facing financial difficulties and it is reasonable that he maximizes the financial resources at his disposal”, our sources said.