PUBLISHER and chairman of the Board of Directors of Global Media Mirror Limited, the parent company of Globam Media Mirror Limited, on Monday announced what he called the suspension of publication of the magazine “with immediate effect.”
Citing the need to turn things around with regards the maintenance and operation of the company, Mr. Ibrahim said the company’s operations will continue at a separate location from old office.
“This decision is already approved by 51 per cent shareholders of the company – Global Media Mirror Limited,” a statement released by Ibrahim said on Monday.
“The decision is taken to reposition the magazine and make it relevant to modern development, and as such, the magazine is due for corporate surgery.
“The remains of the magazine will now operate from 159-161 Broad Street, Marina, Lagos to enable us overhaul and reconstruct the old office.”
The businessman also hinted that the new company will be restaffed.
“The new office is equipped with modern day technology (including computers and ipads) and standard furniture. But regrettably, it will not house incompetent staff,” Mr. Ibrahim said.
“Any staff that is not in agreement with the latest development is directed to collect any outstanding salaries from the accounts department immediately.”
Business concerns associated with Mr. Ibrahim have been facing challenges in recent months, the most recent being the Air Nigeria airline outfit which has come under intense scrutiny by federal airline regulators following the Dana Air disaster in June.
In the same month, officials of Nigeria’s Federal Internal Revenue Service, FIRS, arrested Mr. Kinfe Kayssay, Managing Director of the airline, for alleged failure on the part of the company to remit taxes amounting to N4.868, 496,152:00 billion.
Barely 48 hours later, Mr Jimoh Ibrahim, the company’s Chairman, Mr Kinfe Kahssaye, Managing Director and Air Nigeria Development Company Limited (formerly Virgin Nigeria Airways Ltd), were joined in the 10-count tax evasion and tax clearance certificate forgery charge brought before the Federal High Court in Abuja by the FIRS.