More facts have emerged on why the Publisher of ThisDay newspaper, Nduka Obaigbena, cannot pay staff of the company, which is making so much money from sales and advertisement.
Insiders told The Eagle Online that Obaigbena has been using funds generated by ThisDay for the funding of his new project, Arise Television.
Two senior management staff of the company put the money Obaigbena had taken from ThisDay to fund the activities of Arise Television at over N2 billion in the last two years.
Staff on Tuesday shut down the headquarters of the company in Apapa over unpaid salaries.
While some said eight months were outstanding, others put it at nine months.
The company was however opened on the same day after Obaigbena promised to immediately pay the staff one month salary and the balance on Friday.
But the few staff spoken with on Wednesday said they did not receive the promised one month salary.
One of them, a senior management staff, said: “The way it is, we are not expecting any salary.
“That is how the promises are made.
“Once there is a problem, the publisher wriggles out of it and life continues.
“We are just working to sustain his new pet project, Arise Television.”
Multiple sources told The Eagle Online that once there is money in the company’s account, from which no one else can withdraw without Obaigbena’s signature, he collects the money, changes it into foreign currencies and transfers it into the account of Arise Television in New York, United States of America and the United Kingdom.
A source said just last week, not less than N100 million was taken from ThisDay for movement into the account of Arise Television.
It was gathered that Arise Television is not making any money as at now.
The advertisements, which are running on the television, especially those of banks, are said to be gratis in order to repay part of the loans taken for the establishment of the television station.
A staff said from estimation, not less than $5 million is being sunk into the running of the New York office of the station yearly.
Part of it goes into the rent for the New York office, which is said to be in the heart of the city.
The rent is said to be in the region of $1 million yearly.
The rent for the London office could not be verified.
But the sources said the television station is a liability to Obaigbena.
He was said to have admitted this much at a meeting with the staff in December 2014 when salaries were also outstanding.
He, however, said once the television station starts making money he would no longer be a burden to ThisDay.
But not many see this happening in a long while.
Follow The Eagle Online Channel on WhatsApp
