The managing director of Newswatch Times newspapers, Moses Jolayemi has resigned.
Newswatch Times, is a sister publication of National Mirror newspapers, owned by maverick businessman cum politician, Jimoh Ibrahim.
Jolayemi’s resignation is coming less than four days after Ibrahim sacked the Editor of National Mirror newspapers, Seyi Fasugba under controversial circumstances.
Sources close to the media arm of Ibrahim told our correspondent that Jolayemi had wanted to resign about two months ago, but had to rescind his decision to see if Ibrahim would pay some of the about 10 months accumulated salary arrear.
“Moses had wanted to go long before now, but I think that as the head of the team, he felt the moral burden of the need to fight for the payment of outstanding salaries of his staff, most of whom joined the company on his own recognition,” said a source.
Read details of Jolayemi’s resignation letter
Newswatch Times Ltd.
159/161 Broad Street
I write to inform you of my desire to step down from office as Managing Director/Chief Executive Officer of Newswatch Newspapers Ltd., Publishers of Daily Newswatch which later metamorphosed to Newswatch Times Ltd.
In doing so, I intend to disengage from all executive functions and day-to-day running of the company from June 30, 2015 when I plan to proceed on my accumulated vacations from September 15, 2011 when I took office as pioneer MD/Editor-in-Chief and later CEO.
The accrue vacation of 123 days (approximately four months) end in October when I would have served this great organization for four invigorating and truly venerable years.
I however offer to serve as Executive Consultant of this great institution which I had the privilege to midwife its birth and nurture to its present state as an A-class newspaper of record.
This offer, which is subject to the Board’s approval, is not intended to attract monthly salary as it is the case in older, bigger newspapers of similar class and genre. This is in realisation of the fact that the newspaper, despite its undeniable popularity, is yet to break even financially.
Suffice to say that hardly has any newspaper done better within the time frame Newswatch Times has operated, a scenario which the Chairman/Publisher has acknowledged severally, both publicly and privately.
Details of the modalities and mode of operations of this offer (if approved) will be worked out with the Board at the earliest possible convenience of the Chairman.
Accompanying this notice of resignation is my hand-over note and detailed account and audit reports.
In stepping down I want to thank the Chairman/ Publisher, Dr. Jimoh Ibrahim, OFR, for the cherished and invaluable opportunity to serve and demonstrate my capability not just to run a national newspaper of this stature but to build such a gargantuan establishment, thereby bringing to a glorious zenith a shining career of 25 years.
Permit me to place on record my continued undying and unalloyed support for Newswatch Times. This institution will remain dear to my heart for as long as I live. It is my baby. It is my life. I will therefore, spare nothing within my capacity to support it and contribute to its growth and development, at all times.
Let me also place on record the unwavering support and selfless contributions of my colleagues, technical and non-technical, who have toiled night and day to enable us reach this enviable pedestal. I have enjoyed working with all of them and will continue to value them individually and collectively. The experience has been priceless and remains the most memorable in my entire working career.
As I bow out of office, I carry with me the flag of this great monument as its ambassador wherever I go.
It is my hope and prayer that you and I, joined by others, will recount, with nostalgic joy, the growing, challenging years of this great baby when it marks its silver jubilee anniversary.
Once again, I thank you, Chairman and Publisher, for your confidence in my ability and the inestimable support given to me throughout the four years seminal career journey.
I wish you the best. I wish my Newswatch family the best. I commend this beautiful news paper into God’s able hands.