Armsgate: The SUN Newspaper Returns N9million

 PRESS RELEASE 

NPAN And N120 Million Compensation: 

Our Position 

The Man­agement of The Sun Publishing Limited has considered the public outcry and diverse controversies generated among media hous­es, the Newspaper Proprietors Association of Nigeria (NPAN) and the public over the N120 million paid by the Goodluck Jonathan administration as compensation to newspa­per companies for the unlawful seizure of their newspapers and stoppage of circulation by armed soldiers in several cities across the country in June 2014.

1.                  After the unlawful action of the military, to which The Sun lost millions of naira, we had signified the intention to commence liti­gation against the Federal Government along with other affected newspaper companies.
2. However, at the level of the NPAN, which The Sun is a member, a de­cision was collectively taken to accept the Presi­dency’s offer of peace­ful settlement in place of litigation in the interest of peace and national se­curity.

2.                We were later in­formed of the payment of N120 million compensa­tion out of which the sum of N9 million was paid to The Sun Management by the NPAN.

3.                At the time the com­pensation was paid, we had no inkling whatso­ever under which expen­diture sub-head in the Presidency the fund was sourced and that it was al­legedly part of the funds meant for the purchase of arms.

4.                As a very responsible newspaper organization, which places premium on ethics, individual and cor­porate integrity, we are certainly embarrassed by the turn of events and the unfortunate insinuation of involvement in the illegal sharing of the nation’s commonwealth and the feasting on the blood of soldiers fighting the war against insurgency.

5.                 We believe strongly in our corporate integrity and principles of fairness and social justice, which have driven our business considerations over the years.

6.                In the light of the foregoing, we have re­turned the cheque of N9 million to the NPAN for onward transmission to the source through which it came.

7.                 We have seen that the good intention not to seek redress in court has seem­ingly backfired.

8.                We have also given notice to our lawyers to immediately commence the process in court to redress the huge loss suf­fered through the actions of the military.

9.                We assure our teem­ing readers of our com­mitment to serving them faithfully and conscien­tiously by upholding the time-tested principles of fair business ethics, eq­uity and social justice.

Signed

Eric Osagie

Managing Director/Editor-in- Chief,