Admin l Saturday, December 10, 2016
LAGOS, Nigeria – The management of Thisday Newspaper, one of the most financially viable newspaper in Nigeria has laid off 76 workers.
The 76 workers, we gathered cuts across editorial and other departments. We gathered that only six editorial staff were affected.
Thisday Newspaper, reputed to be the most patronised newspaper in Nigeria in terms of advertisement is indebted to workers in excess of 12 months, depending on the level of the staff.
We gathered that the newspaper is this indebted because the money that comes in from sales and adverts does not stay in the account of the newspaper but is swept out to finance Arise TV based in the United States.
Arise TV is owned by Nduka Obaigbena, who is also the publisher of Thisday.
We gathered that he has finalised arrangement to relocate Arise TV to Nigeria. Thisday sources say construction of the building in the premises of Thisday Newspaper in Apapa, Lagos has reached advanced stage.
