Reports coming in have it that, media brand Megalectrics Limited, the operator of Beat 97.9 FM and Naija 102.7 FM in Ibadan, Nigeria, has reportedly shut down operations in the ancient city.
Though the two stations are still on air as at Saturday morning, It is also gathered that the operator has also laid off its staff members of the twin-stations without compensation.
The reason for the action is still sketchy, but not unconnected with the current economic reality in Nigeria, which has impacted on the smooth running of the two radio stations.
Megalectrics Limited has been in operation in Ibadan for eight years.
The popular media with its headquarters in Ikoyi, Lagos, through Beat FM, Naija FM, Classic FM and Lagos Talks FM, while it also operates in Abuja and Port Harcourt.