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The battle over the soul of Nigeria’s oldest surviving magazine, Newswatch, may eventually be decided by the court.
This is because the Founding Directors of the iconic magazine are exploring the legal option in their bid to stop the core investor, Barrister Jimoh Ibrahim, from closing down the famous weekly magazine.
One of the Newswatch directors who spoke with Transport & Business Express said: “We are working with our lawyers on the issue.”
He indicated that there may be no other option left for them since Ibrahim has refused to reopen the magazine, the operations of which he suspended on August 7.
Newswatch’s Founding Directors have accused Ibrahim of acting unilaterally, even as he has yet to pay the agreed 510 million naira for the 51 per cent stake in Newswatch which he acquired last year.
*Photo shows Jimoh Ibrahim