DEBT:THE PREMIER NEWSPAPERS AGREES TO PAY FORMER MANAGER

DEBT:THE PREMIER NEWSPAPERS AGREES TO PAY FORMER MANAGER

 

Rising from her magical crystal ball  and seating at the National Industrial Court in Ikoyi ,Lagos ,Nigeria ,Justice A.N.Ubaka has given a consent judgment in favour of Mr Abdulmumini ireyi Adeku based on a case filed against the Roobs Communications Network Limited ,in a case the former filed against  the latter in October,2014.

Checks at The News office Desk of Paedia Express  Multimedia Group in Lagos ,Nigeria shows that the entire debt owed to Mr Adeku which was put at over N5million including interests accrued was later reduced to N2million after an out -of-court settlement agreement was arrived at by both parties .

Under the agreement arrived at ,The Board and management of the Lagos tabloid newspaper ,The Premier Newspapers have agreed to pay Mr Adeku ,a sum of N2Million in kind but not in direct raw cash via a trade by barter format .

The Premier Newspapers have now agreed and are  now expected to provide media spaces to advertise and market Paedia Express Multimedia Group and its Newspapers and every other information provided by its founder, Mr Abdulmumini ireyi Adeku in the days or weeks ahead from now.

As at press time, The brand has paid out a sum of N200.000 in raw cash in formal payments to Mr Abdulmumini irey Adeku  through his lawyers and another N50,000 was paid as legal fees to Messrs Devine Chambers represented by Barrister Akintola Taiye Olaniyi .

Other payments made by the company to the petitioner were two bags of rice given to celebrate the yuletide in December,2013 and December,2014,however the period the liquid cash were paid out to the petitioner spanned the last four years that the legal fisticuff took place.

Mr Babatunji Wusu,The Chief Executive Officer of The Premier Newspapers while apologising for the delays in completing the negotiations prayed for the success of the Former Business Development Manager of the company ,Mr Adeku in his future endeavours while calling on him to always feel free to approach him for any support either morally or otherwise.