Former Head of State, Chief Olusegun Obasanjo, has been approached for his assistance towards resolving the ownership dispute that has put the future of Newswatch, Nigeria’s oldest surviving magazine, in jeopardy.

The core investor, Barrister Jimoh Ibrahim, had suspended the operations of Newswatch on August 7, sparking a dispute with the Founding Directors, who accused him 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.   

The seeking of Obasanjo’s intervention was confirmed to Transport & Business Express by one of the directors of Newswatch while speaking on efforts being made to resolve the dispute.

“Several attempts were made to resolve the crisis. After they failed we took the matter to Obasanjo whose name he (Jimoh Ibrahim) drops ant any opportunity,” the source, who spoke on the condition of anonymity, disclosed.

As at the time of this report, there was no indication of any breakthrough as a result of Obasanjo’s mediation.

Newswatch Founding Directors are presently seeking legal advice with a view to going to court if all efforts being made to resolve the dispute amicably fail.

*Photo shows ex-President Obasanjo