Jimoh Ibrahim, chairman, Board of Directors, Newswatch magazine, has suspended the publication of the magazine with immediate effect.
“In my capacity as the Publisher of Newswatch magazine, and the Chairman of the Board of Directors, I hereby suspend the publication of Newswatch magazine from the newsstands with immediate effect,” he said in a statement made available to the press.
Ibrahim, who added that the decision was to “repackage and refocus the magazine”, said, “The remains of the magazine will now operate from 159-161 Broad Street, Marina, Lagos to enable us overhaul and reconstruct the old office.”
According to him, the decision was already approved by 51 per cent shareholders of the company – Global Media Mirror Limited. “Any staff that is not in agreement with the latest development is directed to collect any outstanding salaries from the Accounts department immediately,” he said.
While appreciating the readers of the magazine and customers, Ibrahim expressed determination to reform the magazine.
“I assure them that the magazine will return to the market as soon as the surgical operation is completed and the magazine is rebranded,” he said.