Folio Communications Limited, owners of Daily Times of Nigeria Plc, have threatened legal action against PREMIUM TIMES over the newspaper’s use of “TIMES” in its brand.
In a letter to the Managing Director/Editor in-Chief of PREMIUM TIMES, Dapo Olorunyomi, the solicitors to Folio Communications Limited, Elias Mordi & Co, cautioned the newspaper to desist from using the word “TIMES” in its brand name.
The threat came days after Nigeria’s Minister of Petroleum Resources, Deziani Alison-Madueke, obtained a court order restraining PREMIUM TIMES and 10 other individuals and organisations from reporting on the missing $20 million oil money.
Daily Times of Nigeria Plc is one of Nigeria’s oldest newspapers, incorporated on June 6, 1925 as Nigerian Printing & Publishing Company Limited. The company, however, started publishing in Lagos, South-West Nigeria on June 1, 1926. In the early 30s, it became a popular voice of the nationalist movement and was later bought over by the Daily Mirror Group of London in 1947.
During the 70s and ’80s, the paper became one of the most successful locally-owned businesses in Africa, but its fortunes started dwindling after the Nigerian government repurchased the firm in 1975. The government later sold the company to Folio Communication Ltd on March 14, 2007, in a controversial process that was challenged in Court by D.S.V Limited, one of DTN’s shareholders which complained of “gross and illegal sale of company’s assets”.However, on January 29, 2010, a Federal High Court in Lagos, nullified the acquisition of majority shares of DTN by Folio Communications Limited, and declared the action null, void and of no effect.
PREMIUM TIMES newspaper was registered under relevant Nigerian laws in 2011 by Premium Times Services Limited, with a vision to among other things, strengthen Nigeria’s democracy, advance the socio-economic wellbeing and rights of the people, promote and enrich their cultural practices. It also advocates for best practices, good governance, transparency and human rights, in line with the values expected of a modern democratic state.
PREMIUM TIMES’ Managing Editor, Musikilu Mojeed, said the matter has been referred to the company’s legal team. Mr. Mojeed declined to make further comments on the issue, saying he was too busy “to respond to ludicrous claims by a party that might be fighting a proxy battle”.
