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National Assembly Moves to Ensure Compliance with New Minimum Wage

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The National Assembly has resolved to ensure that states, local governments, and the Organised Private Sector (OPS) comply with the new minimum wage. To achieve this, the Assembly may consider seizing allocations of non-compliant states and local governments. A source revealed that the Assembly is planning to include a clause in the new minimum wage […]

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Governor Sanwo-Olu Advocates for Africa-Based Solutions

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Lagos State Governor, Babajide Sanwo-Olu, has emphasized the importance of Africa-based solutions to address the continent’s challenges. Speaking at the 3rd AfriCaribbean Trade and Investment Forum in the Bahamas, Sanwo-Olu stressed that external support should only supplement local efforts, not replace them. The governor shared success stories from Africa, including Lagos’ development model, which has

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NDDC Partners with Niger Delta Communities to Empower Farmers

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The Niger Delta Development Commission (NDDC) has launched a partnership with communities in the Niger Delta region to empower 4,500 rice and cassava farmers. This initiative aims to promote food security in the region and the country at large. According to Dr. Samuel Ogbuku, Managing Director of NDDC, this program is part of President Bola

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Binance Expresses Relief as Court Clears Executive of Tax Evasion Charges

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Binance, the largest crypto exchange, has expressed relief after the Federal High Court in Abuja cleared Tigran Gambaryan, an American executive, of tax evasion charges filed by the Federal Inland Revenue Service (FIRS). The court’s decision came after FIRS submitted amended charges that dropped the tax evasion allegations against Gambaryan and his colleague, Nadeem Anjarwalla,

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Organized Labour Rejects President Tinubu’s Claims on New Minimum Wage

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The Nigeria Labour Congress (NLC) has refuted President Bola Tinubu’s assertion that a consensus has been reached on a new national minimum wage. In his Democracy Day address, the President claimed that an agreement had been reached between the Federal Government and organized labour, and that an executive bill would be sent to the National

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NLC Stands Firm on N250,000 Minimum Wage Demand, Anticipates Tinubu’s Response.

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Organised Labour has reaffirmed its commitment to a new minimum wage of N250,000, rejecting proposals of N62,000 and N100,000 as “starvation wages.” The Nigeria Labour Congress (NLC) Assistant General Secretary, Chris Onyeka, emphasized that the union will not accept anything less than N250,000, which it considers a reasonable concession to the government and other social

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Sacked Central Bank Employees Seek Justice, Alleging Unfair Dismissal.

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Former Central Bank of Nigeria (CBN) employees are reeling from their sudden dismissal, alleging maltreatment and injustice by the management. Many claim they were not paid their entitlements before being sacked, violating the bank’s human resource rules and policy. The North Central Coordinator of the Conference of Autochthonous Ethnic Communities Development Association Youth Wing, Paul

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FG Targets N62,000, Govs want N57,000 Minimum Wage.

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The Federal Government’s proposed minimum wage of N65,000 has sparked controversy, with governors and the private sector arguing it is unsustainable. Labour unions, however, insist on a higher wage, citing the current N30,000 minimum wage as inadequate. Negotiations continue, with the Tripartite Committee convening daily to finalize an agreeable national minimum wage. Governors and the

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14% Inflation Rate Projected for Nigeria in 2029, According to IMF.

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According to the International Monetary Fund (IMF), Nigeria’s inflation rate is expected to stabilize at 14% in 2029, marking a potential end to the current upward trend. This projection comes as a relief amid concerns over the rising inflation rate, which currently stands at 33.69% as of April 2024. The IMF data suggests a gradual

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Nigeria’s Naira Excluded from IMF’s Representative Exchange Rates List

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The International Monetary Fund (IMF) has published its Representative Exchange Rates for Selected Currencies for June 2024, and Nigeria’s Naira is notably absent from the list. The list features currencies from various countries, including several African nations like Algeria, Botswana, Mauritius, and South Africa. This omission comes as Nigeria struggles to stabilize its exchange rate,

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