Nduka writes!
Record of a meeting with Arise TV staff in London.
From: Nduka Obaigbena
Sent: 10 March 2015 08:14
To: Kevin Fitzpatrick; Nduka Obaigbena
Subject: RE: Notes of Meeting with Nduka Obaigbena - 9 March - V2 As amended.
Notes of Meeting with Nduka Obaigbena
Monday 9 March 2015 - 11:00am
New Zealand House – 12th Floor Studio
Nduka started by apologising for the delay in payments and explaining that the market for foreign currency in Nigeria has recently become illiquid ahead of the postponed presidential elections on March 28. This is restricting his ability to get US Dollars or GB Pounds in order to make payments. The lack of liquidity for foreign currency is due to a combination of the drop in oil prices and the uncertainty surrounding the Presidential election. In order to check capital flight from the country and a depletion of Government reserves, the Central Bank is restricting the amount of foreign currency that is available through the official and interbank trading channels. Despite these challenges, he is doing all he can to got the required USD/GPB to make payments this week and next. However, in a worst case scenario it could mean that funds to make payments will not reach the UK until after the election at the end of March. If funds can be made available sooner they will be paid out as and when received.
He stressed that everyone will be paid - no matter what - and eventually become current with payments by the first week of April
A large majority ( 90)%) of people have been paid for November and some people have been paid for December. The following has been agreed for those who are still unpaid for November or December.
· November - compensation of 20% extra - on top of the November amount when it is paid.
· December - continue to claim compensation at the rate of half a day rate for every week that payment is late. It is likely this will equate to 20% by the time it is paid.
Additionally January was due to be paid on 7 March and is now likely to be delayed. People can claim compensation at the rate of half a day rate for every week that payment is late but all compensation is available to those in continuing service.
Next meeting: Thursday 2 April.
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“All compensation is available to those in continuing service.” Does this mean, “keep me afloat by working for no money and you just might get paid”?
Also, no promise being made here to freelance correspondents out in the field, some of whom haven’t been paid for months, and don’t even seem to merit email replies, let alone compensation for the late payment.