NUJ Gets New Evidence Against Folio Communications

Following the recent court ruling on the reversal of the sale of Daily Times, the Nigerian Union of Journalists (NUJ) has said it now has one more reason to take Folio Communications to court.
In a chat with M2, Wahaab Oba, Chairman NUJ Lagos chapter, says the union believes the ruling has shown the inability of the present leadership of Daily Times to coordinate its affairs. “The ruling has vindicated the union; we are not asking that they pay salaries but that they revert the sale of Daily Times under the leadership of Fidelis Anosike.” Speaking further, he says, “The newspaper was sold to him so that he could revive it and ensure its smooth running. But in five years, Daily Times has not been able to publish for three consecutive months.”
Saying that the court ruling is a plus for the union, Oba says “the judgment has gone a long way to vindicate us. The ruling shows that in the last five years, Folio Communications has been involved in asset striping. They have not added any value to Daily Times Newspaper and that is one of the reasons we are going to court and that is an impetus for us.
During the court proceedings, Folio Communications was found to have squandered monies realised from the sale of Daily Times Plc’s assets, some of which include proceeds from the sale of a property at Wuraola Close, Ashogbon, off Adeniyi Jones, Lagos and purchase of 19 new cars valued at N78 million, with no payments made to the supplier.