Jimoh Ibrahim Sacks Newswatch MD on Live Tv (WATCH)

GMD Energy Group,Billionaire, Jimoh Ibrahim, has terminated the appointment of the managing director of Newswatch Media Ltd, Bolu Afolayan on live television.

Jimoh Ibrahim sacked, the Newswatch MD on Monday, during a live broadcast on Africa Independent Television.

The event where the unexpected firing of Afolayan took place, was the 5th Energy Group GMD Conference held at the Nicon Luxury Hotel, Abuja.

Afolayan’s termination was as a result of the protest of workers of the National Mirror and Newswatch Times, who besieged the hotel to complain about their 9-months salary arrears.

The placard-carrying workers were chanting solidarity songs as the live transmission of the event ensued even as Jimoh Ibrahim appeared indifferent to the protests of the workers.

After a few minutes of the protest failing to abate, he instructed the security operatives present, to take the protesters out of the venue.

He then proceeded to speak on the issue: “These are staff of the National Mirror who cannot generate their own salary, and they expect the company to make money from the company to pay them. Is that practically okay? That is not possible. I have said it that any arm of the group that cannot generate money to pay its salary would be shut down.”

“What we are telling our friends in the media department is that they must be sustainable.If you are not profitable, you cannot be sustainable. Profitability is a key issue in continuity. If you are in media and you cannot generate your own salary, where do you expect the payment of your salary to come from?”

“There is no democracy in corporations. Any corporation talks about democracy in corporation will fail. Democracy works in government. In government, the issue is service to the people. But, in corporation, it is about strategy, profits and survival. It does not matter how. Jimoh Ibrahim cannot be a nice man all his life. But, he needs to take a decision, no matter who is down.”

Visibly under tension, the bosses of the newspapers in the conference knew there was trouble. And trouble eventually came when Ibrahim, suddenly, verbally appointed one the directors in the conference as new head of the Newswatch.

Subsequently, he announced that he would help to pay some of the companies owing six months salaries but on the condition that the Managing Directors and Deputy Managing Directors of the companies step aside.

He stated that any of his companies that does not pay up all salaries owed by December 31, 2016, will be shut down.

Ibrahim, however, announced that the affected bosses should forward their resignation letter via email before they get termination letters from him.

After announcing the sack of the newspaper MD, Ibrahim immediately appointed Demola Abimboye to replace Afolayan as the new managing director.

Jimoh Ibrahim did not hide his anger midway into the conference as he continued to blast company heads who could not generate their own money to pay salaries despite heavy investment in the business.

Watch Video of the Protest below