Former Governor of Ogun State, Otunba Gbenga Daniel has denied reports that he plans to sell his newspaper, The Compass, to controversial businessman, Jimoh Ibrahim.

Ibrahim, the publisher of Daily Newswatch and National Mirror, had been touted to have concluded plans to buy over The Compass, which has nearly gone bankrupt.

But in an interaction with journalists in Sagamu, Ogun State over issues relating to the newspaper, Otunba Daniel stated that he never gave a thought to selling the newspaper despite its financial woes.

He explained that instead, he was concluding strategies to make the newspaper bounce back and better. However, he blamed journalists for the misfortune of the newspaper, saying despite his efforts to ensure better welfare packages for them, lack of effective managerial capacity by the journalists and their reportage ended up destroying the newspaper.

The newspaper, at a time, could no longer pay salaries and run its prints. It later went into skeletal services but has now stopped publishing. While denying that he set up the media house primarily to attack his opponents, he recalled that when it started then, newspapers such as The Nation, The Sun and even ThisDay were put on their toes.

“With the welfare packages we put in place, we bought 36 cars for all our

correspondents across the country and they were all adequately taken care of. Even those at the head office were so happy with the welfare packages they enjoyed until you people finished everything”, he said.

“I sat down and thought of what to do and I concluded within me that I should establish one and make it a place where the pen men would be well taken care of and free to perform effectively and efficiently.

“But, alas! What did I see? It is the same journalists who I was fighting for that ruined the company. They destroyed the company and nearly made it go bankrupt, but I can promise you that the company is coming back soon, back and better”.

Expressing reasons why he could not pay salaries at a time, he explained that a publisher who sets up his firm hopes to make profit and therefore expects every employee to work hard for the profit.

“A situation whereby some people among the stakeholders are not performing as expected, that would be the beginning of the downfall of such a company, which was part of what contributed to the problems faced by The Compass”, he said.