Timbuktu Media Ltd, publishers of NEXT Newspapers, has been involved in some sharp practices as regards employee welfare that the government, and society need to know of:
Pensions - The company has fragrantly flouted the pension laws. The
stipulated deductions are made from staff salaries and not remitted into
their pension accounts. Most of the approximately 200 workers of the company have just the payments of about 4months pensions remitted into their pension accounts in close to 30 months of work.
Tax - The statutory deductions are also made from staff salaries (some
workers are in fact over taxed), however, regular payments are not made to
the Lagos State Internal Revenue Service. Staff of the company have not been issued any tax cards in close to 3 years of operations.
Salaries/Allowances - Staff are also owed salaries and allowances
arbitrarily. The company has, from day one, flouted the contractual agreements it reached with workers. More worrisome, staff who
were victims of a downsizing undertaken by the company last year, are yet to be paid their salaries and allowances owed them.