The Federal Government on Monday said it did not proceed with the contempt suit it planned to file against Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) for organizing nationwide protest against fuel subsidy removal on August 2, 2023. The National Industry Court had stopped the organized labour from going on strike, however…
In an effort to boost food production and support communities affected by violent conflicts, the Plateau State government-owned ASTC has cultivated 900 hectares of land in 14 areas. These communities, spread across Riyom, Barkin Ladi, and Mangu, were severely impacted by recent attacks, leading to the displacement of residents and destruction of farms. The farming…
President Bola Tinubu says a comprehensive forensic audit of the Central Bank is underway, while a thorough overhaul of the Civil Service payroll is imminent. The President stated this during an audience with the President of the World Bank, Mr. Ajay Banga, at the Presidential Villa, Abuja. ”The reforms are in tandem with Nigeria’s Ease…
Nigerian National Petroleum Company Limited (NNPCL) in partnership with a private firm is set to deploy Compressed Natural Gas (CNG) stations across the country. In a statement by the Chief Corporate Communications Officer NNPCL Garba Deen Muhammad, the collaboration is aimed at expanding CNG infrastructure, improve access to CNG, and accelerate the adoption of cheaper…
The Federal Competition and Consumer Protection Commission (FCCPC) has issued a directive to Google, calling for the immediate removal of 18 digital lending companies from its PlayStore and related platforms. Babatunde Irukera, CEO of FCCPC, in a statement said the Commission had identified these companies as operating without the necessary regulatory approval. “They were also…
The Nigeria Labour Congress currently holds an emergency National Executive Council meeting over the suspension of their strike action. A reliable source at the ongoing meeting in Abuja disclosed this to news men on Thursday morning. According to him, leaders of the Union are already discussing the possibility of suspending the strike owing to the…
The Initiative tagged “The Feed the Future Water for Agriculture activity”, supported by the United States Agency for International Development (USAID), has increased access to water for almost 55,000 farmers and herders in Adamawa, Borno, and Yobe States. This has resulted in over 1,600 farmers adopting improved agriculture production practices a statement by the US…
The Presidential Steering Committee on Palliatives, encompassing the Nigeria Labour Congress, NLC and the Trade Union Congress, TUC, of Nigeria, is currently meeting with the Federal Government team at the Chief of Staff Conference Hall, at Aso Rock, Abuja. Recall that the organized labor fumed out of the meeting on Friday last week, asserting that…
With efforts to help improve the standard of living for Lagos residents and to cope with the effects of fuel subsidy removal, Governor Babajide Sanwo-Olu has announced palliatives. The government decision would take effect from Wednesday, the decision states that there will be a 50% reduction on Lagos buses. Sanwo-Olu has also approved a 25%…
Human Rights Lawyer, Femi Falana has said the proposed strike and protest by the Nigeria Labour Congress and its affiliates does not translate to contempt of court as averred by the Federal Government. In a letter to the Ministry of Justice, Falana said no court has issued a perpetual injunction restraining Nigerian workers from participating…
The upward trend in the stock market will persist this week driven by corporate earnings releases and new policy pronouncements by the Federal Government, Analysts said in their projections for this week. Meanwhile, trading on the Nigerian Exchange Limited, NGX, last week shut down marginally positive despite pressure from profit-taking activities during the week. Specifically, the…
The Nigerian Association of Resident Doctors (NARD) has rejected the N25, 000 accoutrement allowance per quarter from the Federal Government. In a communique on Sunday, National Executive Council (NEC) of NARD, emphasised that their prior demand is for the Consolidated Medical Salary Structure to be fully restored to its right value as at the time…
An ex-banker, Uchenna Emmanuel, has apologized for having “mistakenly” used a bank customer’s ATM card to withdraw cash five times. The suspect, a cashier, made this known on Friday while being exhibited by the Ondo State Police Command in Akure, the state capital. In his narration, he professed to have made withdrawals from the account…
The Standards Organisation of Nigeria, in Bauchi State, says its operation team has imprisoned a suspected producer of fake Nitrogen, Phosphorus, and Potassium fertilizer at Chinade town in Katagum Local Government Area of the State. It added that no fewer than 150 bags of counterfeit fertilizer were also reclaimed from the suspect at his shop…
Google has partnered with Verve, allowing Nigerian users to use Verve cards for purchases on the Google Play Store with the Naira currency. With this collaboration, Google will process Verve transactions within Nigeria, and these transactions will be conducted in the local currency, Naira. This means that the transactions will be treated as local transactions…
President Bola Tinubu has approved the payment of N25,000 peculiar allowance for medical and dental doctors in hospitals, medical centres and clinics in the federal public service. This is contained in a circular dated July 25, 2023, and signed by the Chairman and Chief Executive Officer of the National Salaries, Incomes and Wages Commission, Ekpo…
The Speaker of the House of Representatives, Dr Tajudeen Abbas, has met with President Bola Ahmed Tinubu on the strike action by the National Association of Resident Doctors of Nigeria (NARD). At the meeting, Dr Abbas briefed the President on the outcome of his meeting with the NARD leadership. He also appealed to President Tinubu…
The Nigeria Labour Congress (NLC) has issued a one-week ultimatum and warning to the Federal Government to reverse the recent increases in the pump price of petrol, school fees in federal schools and the release of 8 months withheld salaries of university lecturers or face nationwide protests and industrial action. This is contained in a…
The Central Bank of Nigeria (CBN) has decided to increase the Monetary Policy Rate (MPR) from 18.5 percent to 18.75%. The decision was announced by Acting CBN Governor, Folashodun Shonubi, following the conclusion of the bank’s Monetary Policy Committee (MPC) meeting in Abuja on Tuesday, July 25, 2023. This marks the first decision made by…
African Development Fund (ADF), the concessional lending arm of the African Development Bank (AfDB) Group, has approved $16 million for the innovation of a Youth Entrepreneurship Investment Bank (YEIB) in Liberia. A statement issued on the AfDB website said the fund was approved to unleash the business potential of young Liberians. According to the AfDB…
The exchange rate between the naira and dollar fell over to N888/$1 on Binance a crypto platform. This depreciation comes despite a temporary convergence achieved through the Central Bank of Nigeria’s (CBN) recent actions. Currency restrictions have previously been identified as a major hurdle for foreign investors looking to invest in Nigeria, the largest oil…
Distributors of Petroleum products in Nigeria under the umbrella of the Association of Distributors and Transporters of Petroleum Products (ADITOP) kicked against the alleged rise of truck loading fees for petrol by the Petroleum Tanker Drivers Association (PTD). This was disclosed by its National President, Alhaji Lawal Dan-Zaki in a statement in Abuja on Thursday. They cite an “arbitrary…
Nigeria Labour Congress (NLC), Niger state Chapter has requested for the payment of N50,000 palliative for all categories of workers and pensioners in the state. State Chairman of Niger State, NLC, Comrade Abdulkarim Lafene made the demand while declaring open a one-day workshop, organised by Amalgamated Union of Public Corporations Civil Service Technical and Recreational…
AS over 200 million Nigerians groan and debate to survive under the heavy burden of high pump price of Premium Motor Spirit, PMS, affecting their cost and standard of living, Civil Society Organization, CSO, One Love Foundation, OLF, Wednesday, challenged the leadership of the Nigerian Labour Congress, NLC, and Trade Union Congress, TUC, respectively on…
Nigeria’s money supply heightened to N64.3 trillion in the month of June 2023 the highest we have ever documented in Nigeria. This compares to N55.5 trillion recorded in the month of May or a whopping N8.8 trillion increase. This is according to the latest data from the central bank of Nigeria as contained in its…
The Nigerian National Petroleum Company Limited has indicated the rise in the price of Premium Motor Spirit (PMS) otherwise known as petrol to the market realities. This was made known by the Group Chief Executive Officer of NNPC, Malam Mele Kyari, during an interview with journalists shortly after a private meeting with the Vice President,…
Several Nigerians on Tuesday were astonished with an increase in the pump price of premium motor spirit also called petrol as the product now sells at N617 in NNPCL stations. it was noted that petrol which sold for N537 was adjusted to N617 in Abuja. Some residents in the FCT said it would bring more…
A former president of the Chattered Institute of Bankers of Nigeria (CIBN), Mr. Okechukwu Unegbu, has said that the Central Bank of Nigeria (CBN) will need to do everything within its power to get rid of indecent digital lenders, otherwise known as loan sharks, because they are dangerous to the economy. Unegbu, who stated this…
The Federal Republic of Nigeria hasake do with its financial obligations to the African Union, AU by making full payment of its assessed contributions for the year 2023. The confirmation was made on Saturday by the Permanent Secretary, Ministry of Foreign Affairs, Ambassador Adamu Ibrahim Lamuwa, on the sidelines of the 43rd Ordinary Session of…
The banking index closed the week on a negative statement to emerge as the worst-performing sectorial index with a loss of 14.32%. On a general note, the NGX All-Share Index and Market Capitalization devalued by 0.75% to close the week at 62,569.73 and N34.070 trillion respectively. Similarly, all other indices finished lower except NGX Oil…
The Chairman, of United Nigeria Airlines (UNA), Prof. Obiora Okonkwo has pleaded to the Nigeria Civil Aviation Authority (NCAA) to be more vigilant with the activities of oil marketers delivering Jet A1 (aviation fuel) to airlines in the sector. Okonkwo stated this over the weekend in Lagos following the serious incident encountered by Max Air…
