HomeBreaking News"At Daily Trust, We...

“At Daily Trust, We Received N9m Compensation From Seized Publications” – Arms Procurement Deal Scandal

The management of Media Trust Ltd, publishers of Daily Trust Newspaper has dismissed reports that it received monies from the former National Security Adviser Col. Sambo Dasuki (Rtd) who is facing trial on allegations of money laundry.

A statement by the Editor-in-Chief of Media Trust Manir Dan Ali on Friday said the Newspaper Proprietors Association of Nigeria (NPAN) under the leadership of Mr Nduka Obaigbena engaged the federal government after the newspapers threatened to go to court for unlawful seizure of their publications by the military in June 2014.

Earlier on Friday, Obaigbena who is the publisher of Thisday newspaper issued a statement saying that he received some N670 million in compensation of his company attacked by Boko Haram in 2012 and on behalf newspapers who publications were seized by military.

 

Below is the full statement by management of Media Trust Ltd.

 

“Our attention has been drawn to publications suggesting that Daily Trust may have benefited from some amount relating to monies paid out from the office of the National Security Adviser through the Newspaper Proprietors Association of Nigeria (NPAN). Below is an account of what we know of payment of compensation made to us through the association.

 

“You may recall that between 6th to 10th of June 2014, the military authorities seized all copies of our newspapers printed on those days just as our distribution vans were setting out to different towns and cities in the country. According to the then Director of Defence Information, Major General Chris Olukolade, the action came after they received ” intelligence reports indicating movement of material with grave security implications across the country,using the channel of newsprint related consignments.”

 

“Even when the military authorities found nothing incriminating in any of the vans, the newspapers were never allowed to reach the readers, and they repeated this over several days. Following some intervention and the widespread condemnation of the action, the seizures stopped but having suffered such losses in revenue, our board considered the option of going to court to challenge the illegal action of the military and seek for compensation.

 

“We were however prevailed upon by the umbrella body of the Newspaper Proprietors Association,NPAN with its President, Nduka Ogbaibena,who had intervened to reach out to the security services when the siege was going on, suggesting that working through the umbrella body, we can convince the authorities to compensate us even without going to the courts He later told a meeting of NPAN that the military authorities are remorseful about the action especially because of the way that it could affect the relationship between the media and the military that is engaged with the Boko Haram Insurgency.He also added that the authorities have agreed to pay compensation for the loss caused by their action and asked each of the affected newspaper house to submit its claim.

 

“Media Trust Limited submitted a claim of 11 million Naira based on the production cost of the copies printed but not allowed to be sold during the period of the siege. The NPAN President told us that 10 million Naira was approved to be paid to us but that since the payment was as a result of the intervention of NPAN and it was battling to raise funds for its own operations, one million Naira was deducted for the use of the association and our company was paid the sum of 9 million Naira as compensation.

Signed

Editor-in-Chief,Media Trust Limited.”
Read more at http://www.dailytrust.com.ng/news/news/we-received-n9m-compensation-from-npan-for-seized-publications-daily-trust/123864.html#qK2CpxWbmIxyH0vi.99

- A word from our sponsors -

spot_img

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

Cheta Nwanze: Failed visa Marriages

by Cheta Nwanze The 1990 film Green Card told a relatively innocent...

Digital Marketing for Attorneys

In the competitive landscape of legal services, personal injury and medical...

- A word from our sponsors -

spot_img

Read Now

“No Victor, No Vanquished” — Angbazo calls for unity after Nasarawa ADC Governorship Primary win

LAFIA — Retired General Nuhu Angbazo has emerged victorious from the Africa Democratic Congress, ADC, governorship primaries in Nasarawa State, calling on all party faithful to sheathe their swords and rally behind a common vision for the state's development. In a press statement issued shortly after his victory...

Lazarus Angbazo: The Countries that will lead the AI Economy are being decided right Now — By Their PowerGrids

Nigeria has enough installed generation to power a mid-sized country. The grid delivers less than half of it. Around the world, the race to build AI-ready power infrastructure is already underway — and the decisions African governments and investors make in the next eighteen months will determine...

Cheta Nwanze: Failed visa Marriages

by Cheta Nwanze The 1990 film Green Card told a relatively innocent story: a French immigrant and an American woman enter a marriage of convenience so he can stay in the US. They barely know each other. They hope never to see each other again after the deal...

Digital Marketing for Attorneys

In the competitive landscape of legal services, personal injury and medical malpractice attorneys are finding themselves overshadowed by competitors who dominate online visibility. The root of this issue lies in the digital presence that many firms lack. While traditional word-of-mouth referrals still hold value, the digital age...

Lazarus Angbazo: The global power industry is leaving Africa behind

 Dr. Lazarus AngbazoThe nascent AI revolution is not just driving electricity consumption and massive demand for additional capacity—it is reshaping how power is built, maintained, and delivered. For Africa, the real risk is no longer just insufficient capacity—it is also losing control and ability to manage the capacity it...

Bunmi Onabanjo-Kuku: The first thing you feel when you land in Nigeria

By Bunmi Onabanjo-Kuku The first thing you feel when you land in a country is not its culture, not its cuisine, not its people. It is its airport. That threshold, the space between the jet bridge and the city beyond, tells you everything a nation believes about itself...

Dr. Lazarus Angbazo: Why a fractured world strengthens the case for African Infrastructure

How inflation, energy insecurity, power scarcity, and geopolitical fragmentation are reshaping the risk-return case for African infrastructure By Dr. Lazarus Angbazo At a recent global infrastructure summit, the prevailing mood among institutional investors was unmistakable. Faced with surging capital requirements for energy transition, grid expansion, and digital infrastructure in Europe and...

Aliko Dangote to launch what could become Africa’s largest initial public offering to raise $5 billion from investors

Nigeria’s biggest local investor, Aliko Dangote, is moving ahead with plans to launch what could become Africa’s largest initial public offering, as Dangote Petroleum Refinery & Petrochemicals prepares to raise up to $5 billion from investors. The share sale is expected to open as early as May, with...

Criminal networks have turned Nigeria’s telecom towers into open-air warehouses for theft, looting

Criminal networks have turned Nigeria’s telecom towers into open-air warehouses for theft, looting 656 critical power assets across 14 states in 2025 alone and keeping up the pace in early 2026. The Nigerian Communications Commission (NCC) data showed the haul included 152 generators and 504 batteries stolen from...

Paul Yirenkyi: A call for Caution Needed, President Tinubu and the INEC-ADC Crisis

I have seen enough cycles of tension and resolution to recognise when restraint must prevail over confrontation. The current standoff between the Independent National Electoral Commission (INEC) and the African Democratic Congress (ADC) is one such moment. In early April 2026, INEC withdrew recognition of the Senator...

Nigeria’s opposition landscape appears increasingly fractured, disorganised and strategically weakened

10 months until the 2027 general elections, Nigeria’s opposition landscape appears increasingly fractured, disorganised and strategically weakened. Although no fewer than 21 political parties have been registered by the Independent National Electoral Commission (INEC) to participate in the polls, developments within the parties, including internal crises, litigations and other destabilising factors, may...

Power shortages weaken Nigeria’s business activity 

Nigeria’s business environment continued to expand in March 2026 but slowed as rising input costs and power supply deficits weighed on performance, according to the latest Business Confidence Monitor (BCM) report by the Nigerian Economic Summit Group (NESG). The report indicates that the Current Business Performance Index declined...