Shake up in Businessday as MD Sacks Chairman, Reporters

June 4, 2015 – Managing Director, Businessday Newspaper, Mr. Frank Aigbogu has sacked not less than 13 staff in the editorial department of the newspaper.

We gathered that the affected staff are Chairman Editorial Board, Mr. Tayo Fagbule, Deputy News Editor, the Education correspondent and other editorial staff.

We gathered that he sacked the staff on his return from a two weeks trip to the United Kingdom. According to sources,  Aigbogu first requested lists of disposable staff form title editors but resulted to take unilateral action when some of the title heads tarried for reason that the newspaper was not adequately staffed..

We gathered that the MD opted to sack the affected staff to enable him cut budget of the department by at least N4 million.

According to sources only few correspondents in Business day earn up to N100,000 per month and wondered how many editorial staff he would need to sack to hit his target.

We gathered that some staff are angry with the MD that even though he is complaining of funds and seems to be interested in reducing cost of production, he few weeks ago hired just two top editorial staff at a cost of N1million monthly,  forcing many to doubt his intentions towards the newspaper.