Reports have it that Ayankola, who was appointed on December 2012, was the longest-serving editor in the 46 years history of the newspaper.
According to reports, a cartoon published on the back page of the PUNCH last Thursday, received a lot of backlash from Nigerians, PM News reports.
The opinion on its back page column was written by Abimbola Adelakun, with the title “What Does Mrs. Fatoyinbo Know.” The article was illustrated with a cartoon of a man desecrating the bible with urine.
The publication had generated lots of displeasure against the newspaper for publishing such offensive cartoon aimed at casting aspersion on the Christian faith and the Lord Jesus Christ.
The board held an emergency meeting on Monday where Ayankola, was ordered to appear and forced to resign his appointment.
It was learnt that Ayankola had just completed a one-week suspension before he was fired by the newspaper over the offensive cartoon.
The Saturday Editor, Deji-Folutile was also asked to resign for allegedly playing a role in the publication, while the cartoonist of the newspaper was sacked, with more people still being investigated, while the columnist, Abimbola Adelakun, was asked to rest her column.