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Labour Unions Walk Out of Minimum Wage Negotiations, Criticise FG

The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have withdrawn from the ongoing minimum wage negotiations with the Federal Government and the Organized Private Sector (OPS). Expressing their displeasure at the Federal Government’s proposal of N48,000 as the new national minimum wage, the labour unions described the offer as insulting and inadequate. […]

Emefiele Granted N300 Million Bail, Denies Naira Printing Charges

Embattled former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, was granted another N300 million bail on charges related to the unlawful printing of naira notes. Emefiele pleaded not guilty to the charges before the Federal Capital Territory (FCT) High Court in Maitama, Abuja, on Wednesday. The Economic and Financial Crimes Commission (EFCC) […]

Inflation Rate Rises to 33.6% in April — NBS

Nigeria’s headline inflation rate surged to 33.69% in April, up from 33.20% in March 2024, according to the National Bureau of Statistics (NBS). This represents a 0.49 percentage point increase over the previous month. The NBS, which released the data on Wednesday, attributed the rising inflation to escalating food prices. The food inflation rate in […]

NLC Protests Electricity Tariff Hike, Pickets NERC and DisCos Offices

The Nigeria Labor Congress (NLC) in Jigawa, Imo, and Osun States, along with their counterparts nationwide, have embarked on protests against the recent electricity tariff hike. These protests have targeted the offices of the Nigerian Electricity Regulatory Commission (NERC) and various Distribution Companies (DisCos). In Jigawa, the NLC picketed the NERC office and sealed the […]

Federal Government Plans Tax Relief for 95% of Small Businesses, Reveals Tax Reforms Committee Chairman

The Federal Government is actively devising a strategy to offer tax relief to a whopping 95 percent of businesses operating within the informal sector of the economy. Mr. Taiwo Oyedele, the chairperson of the Presidential Fiscal Policy and Tax Reforms Committee, made this revelation during the committee’s closing session held on Sunday in Abuja. The […]

Zenith Bank Delivers Record Dividend Payout of N125.59 Billion to Shareholders

Zenith Bank Plc showcased its unwavering commitment to providing value to its shareholders by announcing a record dividend payout of N125.59 billion at its 33rd Annual General Meeting (AGM), held at the Civic Centre, Victoria Island, Lagos, on Wednesday, May 8, 2024. Shareholders enthusiastically approved the proposed final dividend payment of NGN3.50 per share, culminating […]

Olise Scores Twice as Crystal Palace Decimate Manchester United 4-0

Manchester United faces the embarrassing threat of missing out on European qualification next season following a devastating 4-0 defeat against Crystal Palace, plunging them to eighth place in the Premier League standings. Michael Olise’s clinical finishing, complemented by goals from Jean-Philippe Mateta and Tyrick Mitchell, propelled Crystal Palace to a commanding victory, underscoring the Eagles’ […]

Banks to Impose Cybersecurity Levy on Nigerians

The Central Bank of Nigeria (CBN) has directed deposit money banks in the country to levy a 0.5% cybersecurity charge on transactions, as outlined in a circular dated May 6, 2024. This directive applies to all commercial, merchant, non-interest, and payment service banks, as well as mobile money operators and payment service providers. The levy, […]

Relief for Band A Customers as DisCos Reduce Tariff to N206/kWh

The Nigerian Electricity Regulatory Commission (NERC) issued a directive yesterday instructing electricity Distribution Companies (DisCos) to reduce the tariff for Band ‘A’ customers from N225/kWh to N206.80/kWh. The regulatory agency cited significant changes in the macroeconomic landscape, particularly the strengthening of the naira against the dollar since April when the rate was hiked by over […]

Naira Misuse: Cubana Chief Priest, EFCC Consider Out-of-Court Settlment

Renowned celebrity mixologist and entrepreneur, Pascal Okechukwu, famously referred to as Cubana Chief Priest, is currently exploring the possibility of resolving the allegations of Naira misuse levelled against him by the Economic and Financial Crimes Commission (EFCC) through an out-of-court settlement. These allegations were brought forth by the anti-graft agency at the Federal High Court […]

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