It is learnt that the decision became imperative as the company failed to make a dime after four years in the market.
It was gathered that the paper, which was headed by veteran journalist, Shola Osunkeye has been faced with management crisis despite the huge money being pumped in from Lagos office.
An insider disclosed that in its four years stint in the market, the paper did not get any corporate advert.
“They have been printing for more than three years now without a single advert.
“Osunkeye has not been able to manage the paper very well”, he stated.