On Thursday, Megalectrics announced the temporary shutdown of its radio stations, The Beat 97.9FM and Naija FM 102.7FM, located in Ibadan. The Chief Executive Officer, Christopher Ubosi, stated that the decision was a response to the challenging economic conditions prevailing in the country.

While highlighting the continued full operation of other stations in Lagos, Port Harcourt, Abuja, and London, Ubosi mentioned that the temporary closure in Ibadan would enable the company to regroup, restructure, and emerge stronger, ensuring an enhanced experience for their staff, clients, and loyal listeners.

Ubosi expressed Megalectrics' understanding of the significant impact The Beat and Naija FM had on the vibrant city of Ibadan, becoming integral to local culture by offering exceptional entertainment, music, and news over the years.

He conveyed gratitude to the dedicated staff, esteemed clients, and the general public for their immense support. The closure is seen as an opportunity for Megalectrics to acknowledge and honor the unwavering loyalty of those involved.

Ubosi emphasized the pivotal role played by the Ibadan staff in the success of The Beat FM and Naija FM, recognizing their contribution to the platforms' achievements. He reiterated Megalectrics' commitment to maintaining open communication channels, working collaboratively to devise innovative solutions that benefit all parties involved.