Nigeria’s minimum wage, the benchmark for money receivable by workers in Africa’s biggest economy at N30, 000, is the lowest among seven selected countries across Africa, a BusinessDay’s findings have shown.

 
 

Using an average N1,500 to a dollar exchange rate, a Nigerian worker goes home at the end of 30 working days with a meagre $20, an amount not enough to afford a half bag of rice in the present economy.

Meanwhile, as at 2023, workers in Seychelles, Libya, Morocco, Gabon, South Africa, Mauritius and Equatorial Guinea have $456, $325, $315, $256, $242, $240 and $224 respectively as their minimum “take home” at the end of the month.

Nigeria's minimum wage

Nigeria’s national minimum wage has been N18,000 for seven years until it was increased to N30,000 in 2018, an amount it has remained for the past six years.

 
 

Even as the country battles with record levels inflation at 31.70 percent in February, and cost of food which gulps a chunk of Nigerians’ income on a race at 37.92 percent, Nigerian workers are at the mercy of the economic headwinds.

The labour had said the current pay receivable by workers was not realistic, citing the stifling economic crisis which has seen the headline inflation of the country hit a 27-year record.

Given that the naira is strengthening against the bullish dollar, the country’s local currency still exchanges at about N1,300/$. However, in 2018 when the minimum wage was announced, naira sold at an average of N400 to a dollar at the parallel market.

Nigerian workers’ longstanding yearnings may see an end soon as there are growing indications that President Bola Tinubu may announce a new minimum wage during his inaugural Workers’ Day address on May 1.

In January, the Federal Government inaugurated the tripartite committee responsible for deliberating on the national minimum wage which was inaugurated by Vice President Kashim Shettima.

A 37-member panel was constituted at the Council Chamber of the State House in Abuja, comprising representatives of the federal and state governments, the private sector, and organised labour. The committee’s mandate is to propose a revised national minimum wage for the nation.

During zonal public hearings in Lagos, Kano, Enugu, Akwa Ibom, Adamawa, and Abuja, workers in the North-West requested N485,000; North-East, N560,000; North-Central, N709,000 (NLC) and N447,000 (TUC); South-West, N794,000; South-South, N850,000; and South-East, N540,000 by the NLC and N447,000 by the TUC.

However, the Adamawa and Bauchi state governments suggested N45,000 as the new minimum wage.

The NLC had on Friday said governors who fail to implement the new minimum wage when it becomes a law would be breaking the law, warning that it was working towards ensuring that tougher sanctions would be meted on such governors.

[Businessday]

 

Richard Taylor, campaigner and father of Damilola Taylor, who was killed 24 years ago in the United Kingdom (UK), is dead.

A statement issued by his family said the activist died on Saturday after a prolonged battle with prostate cancer at the age of 75.

 

“It is with a heavy heart that the family announce the death of our beloved father, grandfather and uncle, Mr Richard Adeyemi Taylor OBE, who sadly passed away in the early hours of Saturday, March 23 at Queen Elizabeth Hospital, Woolwich,” the statement reads.

DAMILOLA TAYLOR: THE CASE THAT SHOCKED UK

Damilola and his family moved from Nigeria to London in the summer of 2000 in search of a better life.

Taylor stayed back in Nigeria working as a civil servant while the family settled in Peckham seeking to get medical treatment for Gbemi, Damilola’s sister, who had a severe form of epilepsy.

The 10-year-old boy was said to have had medical ambitions to carry out research to help his sister.

 

On November 27, 2000, he was stabbed in the leg with broken glass by two brothers, Danny and Ricky Preddie, who were persistent young offenders.

According to CCTV footage, the boy was hopping and skipping on his way home from the library before the brothers apprehended him.

Damilola bled to death on a concrete stairwell a few hundred metres before his house.

His death sparked outrage in the UK.

 

Prosecutors said aside from his age, there was something about the boy’s character and appearance that appealed to people.

“He’s an engaging person, wearing school uniform. He’s smiling, has got an air of confidence about him and he looks positive about the future,” Nick Ephgrave, the detective who caught the Preddies, told the BBC.

Another factor was the time it took – six years and three trials – to identify and convict his killers.

Ephgrave said the conviction of the Preddies for manslaughter was one of the highlights of his 30-year policing career.

 

Taylor and his late wife Gloria were motivated to set up a charity in their son’s memory after his death.

He said he wanted his son to be remembered as a boy of hope.

In 2012, Taylor was awarded an officer of the order of the British Empire (OBE) for his activism against violent crime.

He dedicated it to the memory of the late Damilola.

[TheCable]

Last modified on Monday, 25 March 2024 07:55

The Joint Admissions and Matriculation Board (JAMB) has decided to extend the ongoing registration for Direct Entry by an additional two weeks to accommodate all prospective candidates in the process.

This is contained in a statement by JAMB’s Public Communication Advisor (PCA), Fabian Benjamin on Saturday.

The statement reads “The Joint Admissions and Matriculation Board (JAMB) would be extending the 2024 Direct Entry (DE) registration by two weeks to enable all candidates desirous of DE registration to do so.

“The Board commenced the 2024 Direct Entry on Wednesday, 28th February, 2024, and was to have concluded it on Thursday, 28th March, 2024, but on subsequent consideration, has now extended the exercise by two weeks from Wednesday, 28th March, 2024, consequently bringing the registration to a close on Thursday, 11th April, 2024.

“This extension became necessary following the challenges faced by candidates in going through some of the security screening measures put in place to arrest the rampant and embarrassing cases of fake A’level certificates being paraded by some DE candidates.

“The Board apologises for the inconveniences caused the prospective DE candidates and pledges that, going forward, the process would be made more user-friendly.

“However, in doing this, the Board will not compromise on its avowed determination to ensure that candidates, whose certificates were dubiously acquired are prevented from benefiting from such certificates.

“It is also to be noted that candidates, whose certificate-issuing institutions are among those on the list of institutions that have not verified their certificates despite repeated requests, would not be allowed to register without doing the needful.”

Last modified on Monday, 25 March 2024 07:55

The Lagos State chapter of the Labour Party (LP) has called for the resignation of the National Chairman of the party, Julius Abure, in order to uphold the party's integrity.

Rasheed Bamishe, the LP chairman in Lagos State, made the call at the party’s secretariat in Lagos on Saturday.

He urged the National Working Committee, members of the party Board of Trustees and other relevant stakeholders to prevent Abure from holding his proposed National Convention on March 27, 2024.

 

According to him, Abure should prioritize the party interest while a Caretaker National Chairman should be appointed to organize State Congresses before convening the National Convention.

“We urge Barrister Abure to leave the Party now because the litany of corrupt cases against him has done collateral damage to the image of the Labour Party.

“The Labour Party which was formed by the founding fathers to be a beckon of hope for millions of Nigerians is gradually being destroyed by Barrister Abure and this should not be allowed to continue,” he said.

 

Bamishe further stated that Abure was free to create his political party and manage its business but declared that the Labour Party, as a democratic organisation, cannot function as a one-man show.

He said that allegations of dishonesty, forgery, and fabrication of signatures have brought public shame and embarrassment to the Labour Party.

“Even if all these allegations are not true, the reasonable option open to the embattled Labour Party National Chairman is to step aside to pave the way for thorough investigations into the cases of alleged fraud against him.

“In a civilized clime, Barrister Abure should have exited office since the flurry of fraud cases against him became public knowledge but because of the culture of impunity in Nigeria, he is still clinging to power.

“Barrister Abure should tell the world where the National Convention of Labour Party in which he emerged as National Chairman was held.

“Barrister Abure is plotting to install himself again as the National Chairman of Labour Party through another illegal Convention and this should not be allowed to happen,” he stressed.

He emphasized the need for all stakeholders to unite to seek legitimate options including litigation to make sure Abure is removed from office to restore credibility, dignity, and integrity to the party.

The All Progressives Grand Alliance (APGA) has replied the national chairman of All Progressives Congress (APC), Alhaji Abdulahi Ganduje for saying that the state has remained politically dislocated from the centre because it has remained in APGA.

 

Ganduje, while speaking during a colloquium organized by APC in Nnewi on the issue of marginalization of the South East, said Amambra has been missing out because it has failed to belong to APC, which is the party controlling the federal government.

The National Publicity Secretary of APGA, Mazi Ejimofor Opara who reacted to the comment by Ganduje, said even though Anambra controlled by a minority party, it has remained better than most states that claim to have connected to the center.

Ejimofor reminded Ganduje that his activities in Kano as governor were some of the reasons the state chose a governor from New Nigeria People’s Party (NNPP), which is a minority party.

Ejimofor said: “First, I wonder the level of progress Kano State made under Ganduje’s APC that resulted in a revolutionary and historic rejection of the party by the people in 2023 as the people opted, instead, to vote for the NNPP and were ready to stake their lives to defend their votes.

“Ganduje should understand that the South East and Ndi Anambra in particular are more interested in why Kano State, after him, decided enmass to disconnect from the APC -controlled Centre.

“APC is nonexistent in Anambra and I am sure Ganduje himself knows this for a fact. Again, the continued existence of APGA in Anambra is performance based.

“Anambra, and indeed the South East is APGA land. There is no doubt about this, and even where the region decides to negotiate a handshake to the centre, the APC has proven not to be such a viable alternative. I sincerely hope that Mr. Ganduje will seek to really see that which is not hidden, than opting for deliberate ignorance.

“From Peter Obi, to Willie Obiano and now Professor Soludo, Anambra has remained on a trajectory of progressive growth, and it is for this reason even a political neophyte would state without double checking that Ganduje was either speaking to impress his host, or he is sincerely ignorant of the facts.

 

“Anambra under APGA has remained a state of many firsts, and in recent times the state under the Soludo government has won many awards.

“Recall that Anambra has won award as the state with best deployed ICT, and Anambra State ICT Agency under Mr Chukwuemeka Fred Agbata won that award. Anambra has also been named as the state with the least out-of-school children record.

“If all these awards are what it takes to be disconnected from the centre, then Anambra will gladly remain disconnected.”

Opara added that it is appalling that a political party that proposed a colloquium turned it into a political rally and ended up conducting a primary election, where the host senator, Ifeanyi Ubah was unashamedly declared the candidate of the party in the next election.

[Vanguard]

 

Last modified on Monday, 25 March 2024 07:55

As Naira continues to strengthen against foreign currencies, especially the United States Dollar (USD) at both parallel and official markets, the foreign exchange on cargo clearance at the nation’s seaports and international airports across the country has been reduced again.


LEADERSHIP reports that the Central Bank of Nigeria (CBN), on Saturday, slashed the foreign exchange rate on cargo clearance from N1,572.507/$1 to N1448.386/$1.

The slash represents 7.8% reduction or a difference of N124.121 between the new and the old rates.

It was gathered that the exchange rate between the Naira and the Dollar At the official market strengthened to N1,431/$ on Friday, March 22, 2024, closing the week on a positive note.

Data from the FMDQOTC, where the exchange rate is officially set, revealed that the official currency gained 1.52% at the close of business, continuing a rally that has now lasted seven days.

The Naira has now gained over 12% in one week, suggesting that the apex bank’s policies, implemented aggressively since February, were beginning to yield fruits.

On the parallel market where the exchange rate trades unofficially, traders still quoted between N1400-N1480/$1 depending on who is buying or selling.

To this end, importers that opened Form ‘M’ on Wednesday will pay less to clear their cargoes as import duties are benchmarked against the dollar.

Also, importers will open Form ‘M’ at a lower rate compared to those who opened Form ‘M’ on Friday, March 23, 2024, according to the central bank’s new directive to Nigeria Customs Service (NCS) to use the rate on the date of submitting Form ‘M’ for calculating import duties.

Last modified on Monday, 25 March 2024 07:54

Nigeria’s total public debt stock more than doubled to N97.3 trillion as at 2023 over the level in the previous year.


Latest data from the Dent Management Office (DMO) showed that the country’s total debt stock increased by 118 per cent year-on-year from N46.25 trillion as at December 2022 to N97.3 per cent in December 2023.


The DMO said the N97.3 trillion debt stock comprises of the domestic and external debt stocks of the Federal Government of Nigeria (FGN), 36 state governments and the Federal Capital Territory (FCT).

However, the public debt stock increased by N9.43 trillion in the last quarter of 2023 over the comparative figure for September 2023, which was largely due to new domestic borrowing by the FGN to part finance the deficit in the 2024 Appropriation Act and disbursements by multilateral and bilateral lenders,” DMO said on Friday.

Also, the massive depreciation of the Naira has resulted in a surge in the value of the country’s external debt which are dollar denominated.

Of the total debt, domestic debt constitutes a significant majority, standing at N59.12 trillion, accounting for 61 per cent of the total public debt stock.

Meanwhile, external debt amounted to 38.22 trillion Naira, representing the remaining 39 per cent.

Nigeria’s external debt structure reflects a strategic tilt towards loans from multilateral and bilateral lenders, which collectively

Despite the escalating debt figures, DMO says it maintains a commitment to implementing best practices in public debt management.


Moreover, concerted efforts by fiscal authorities to bolster revenue generation are anticipated to bolster debt sustainability moving forward. for 63.79 percent of the external debt stock. The dominance of these loans, primarily concessional and semi-concessional, underscores the nation’s prudent debt management strategy.

Despite the escalating debt figures, DMO says it maintains a commitment to implementing best practices in public debt management.

The sum of $3.5 billion was used to service external debt during the review period.

“Consistent with the debt management strategy, Nigeria’s external debt stock was skewed in favour of loans from multilateral (49.77 per cent) and bilateral lenders (14.02 per cent) or a total of 63.79 per cent which are mostly concessional and semi-concessional.

“Whilst the DMO continues to employ best practices in public debt management, the recent and ongoing efforts of the fiscal authorities to shore up revenue will support debt sustainability.”
Despite the escalating debt figures, DMO says it maintains a commitment to implementing best practices in public debt management.
Moreover, concerted efforts by fiscal authorities to bolster revenue generation are anticipated to bolster debt sustainability moving forward.

In line with last Tuesday’s resolution of the Edo State House of Assembly, the Chief judge of the State, Justice Daniel Okungbowa has set up a seven-man panel to probe the petition against the Deputy Governor of the State, Philip Shaibu.

DAILY POST reports that the House of Assembly had on March 6, 2024, served a notice of impeachment on
the deputy governor, Philip Shaibu over alleged misconduct and perjury with seven days ultimatum to respond to the petition.

The House, due to alleged evasion by the deputy governor to be served the impeachment notice, ordered for a substituted means of service through the State-owned Observer Newspaper and the Vanguard Newspapers, respectively.


The notice was published on March 12, 2024.

The House in its plenary last Tuesday, March 19, 2024 passed a resolution directing the Chief Judge to set up a seven-man panel to probe the allegations levelled against the deputy governor.

DAILY POST reports that the Chief Judge complied on Friday.

A statement signed by the Chief Registrar of the State High Court, B.O. Osawaru, obtained by DAILY POST, named retired Justice
S.A. Omonua (Rtd), the chairman of the panel.

Three Professors from the University of Benin, UNIBEN, and Benson Idahosa University, BIU, are also members of the panel.

The professors are Violet Aigbokhaevbo, Faculty of Law, UNIBEN, Boniface Onomion Edegbai, Department of Plant Biology and Biotechnology, UNIBEN and Theresa Akpoghome, former Dean, Faculty of Law, BIU.

Other members are Surveyor Andrew Oliha, Oghogho Ayodele Oviasu and Idris Abdulkareen.

Part of the letter reads:

This is to bring to the notice of the general public that in line with Section 188(5) of the 1999 Constitution of the Federal Republic of Nigeria (as amended), the Honourable Chief Judge of Edo State, Honourable Justice D.I. Okungbowa has constituted the PANEL OF SEVEN PERSONS to investigate the allegations contained in the impeachment notice against the Deputy Governor of Edo State, Rt. Honourable Philip Shaibu.

The said Panel of Seven Persons comprises the following
persons:

1. Hon. Justice S.A. Omonua (Rtd.) – chairman
2. Professor Violet Aigbokhaevbo
3. Professor Boniface Onomion Edegbai
4. Professor Theresa Akpoghome
5. Mr. Oghogho Ayodele Oviasu
6. Surv. Dr. Andrew Oliha
7. Mr. Idris Abdulkareen

Signed
B.0.Osawaru Esq.,
Chief Registrar.

 

Last modified on Monday, 25 March 2024 07:54

The Federal High Court in Abuja, presided over by Justice Inyang Ekwo, has refused to grant an interim injunction restraining the Central Bank of Nigeria (CBN) from disbursing the N3.8 trillion naira deposited into the CBN NIPOST Stamp Duty Collection Account by Deposit Money Banks (DMBs) or commercial banks.

 

Kasmal International Services, represented by its legal team led by Dr. Alex Izinyon SAN, had approached the court claiming a percentage in the N3.8 trillion domiciled in the Stamp Duty Collection Account. The applicant joined the CBN and the Attorney-General of the Federation as respondents in the suit marked FHC/ABJ/CS/335/2024.

 

According to the applicant’s lawyer, Kasmal International Services was appointed by the Nigerian Postal Service (NIPOST) to represent them in the collection of a 50 naira stamp duty on all receipts given by banks or financial institutions for services rendered in respect of electronic transfers and teller deposits from N1,000 and above, in compliance with the Stamp Duties Act and the Nigeria Financial Regulations 2009. The agreement between NIPOST and the plaintiff included a remuneration of N7.50 from every 50-naira deduction.


The applicant argued that if the disbursement is done without considering its percentage, it will suffer irreparable losses. However, instead of granting the interim injunction, Justice Ekwo ordered the CBN to appear before the court and explain why the applicant’s request should not be granted.

At the resumed sitting on Friday, the court was informed that the CBN’s legal team had not yet shown cause as directed. Justice Ekwo then adjourned the matter to April 16 for hearing.


The stamp duty, an indirect tax imposed on several financial transactions, has been a subject of contention. In 2023, former CBN governor Godwin Emefiele revealed that the total revenue collected as stamp duty on behalf of the Federal Government between 2016 and 2022 was N370.686 billion.

Last modified on Monday, 25 March 2024 07:54

DHQ declares Simon Ekpa, 96 others wanted for terrorism


 

The Defence Headquarters on Friday said it has declared 97 persons wanted for terrorism, violent extremism and secessionist threats against the state.

Prominent among the wanted persons is the factional leader of the proscribed Indigenous People of Biafra, IPOB, Simon Ekpa.

Major Gen Edwaed Buba, Director, Defence Media Operations, confirmed the names and pictures of the people declared wanted in Abuja on Friday night.

The wanted persons, terrorists/ bandits and insurgents commanders are from the North East, North West, North Central and South-East zones.

The military authorities did not place any bounty on the wanted persons.

A breakdown of the wanted persons shows that 43 were declared wanted in North West Zone plagued by banditry, and kidnapping among others.

Some bandits/terrorists leaders include: Alhaji Shingi; Malindi Yakubu; Boka ; Dogo Gide; Halilu Sububu; Ado Aliero ; Bello Turji; Dan Bokkolo; Labi Yadi ; Nagala; Saidu Idris; Kachalla Rugga and Sani Gurgu.

In the North East plagued by Boko Haram and Islamic State for West Africa Province terrorists, 33 persons were declared wanted.

Among them are terrorists commanders, Abu Zaida; Modu Sulum; Baba Data; Ahmad; Sani Teacher; Baa Sadiq; Abdul Saad; Kaka Abi; Mohammad Khalifa; Umar Tella; Abu Mutahid; Mallam Mohammad; Mallam Tahiru Baga; Uzaiya and Ali Ngule.


In the North Central and South East 21 Insurgents/militants and violent criminals were declared wanted.

They include factional IPOB leader Simon Ekpa; Chika Edoziem; Egede; Zuma, ThankGod Gentle; Flavour ; Mathew; David Ndubuisi ; High Chief Williams Agbor; Ebuka Nwaka; Friday Ojimka.

`

Others in the South East include Obiemesi Chukwudi aka Dan Chuk ; David Ezekwem Chidiebube and Amobi Chinonso Okafor aka Temple .

Last modified on Saturday, 23 March 2024 08:12