The 2023 Peoples Democratic Party, PDP, presidential candidate, Atiku Abubakar, has vowed to keep contesting as long as he’s healthy.

Atiku spoke during an interview on the Hausa service of the Voice of America in Abuja.

Asked if he will contest again, Atiku said: “Of course, I will keep contesting again and again as long as I am alive and healthy.

“Even the former US President Abraham Lincoln contested seven times before finally winning.

“However, given the current state of the PDP, it is clear that a single-handed effort will not suffice to win the election. Strong support and collaboration with other parties are required.”

The former Vice President will be 81 by the time the next presidential election comes around in 2027.

Atiku has run for the presidency six times but has been on the ballot as a presidential candidate on three occasions — 2007, 2019, and 2023.

Abubakar said he is consoled by the fact that former United States President Abraham Lincoln did not win the presidential vote on the first time of asking.

He also spoke about the crisis in the Peoples Democratic Party (PDP), saying the party needs to be united and forge alliances with other political groups to win the presidential election in 2027.

This is coming amid speculation of him forming a coalition with other political parties.

Last week, Atiku had met with his counterpart from the Labour Party, LP, presidential candidate, Peter Obi.

“This is to anybody that thinks there is going to be a misunderstanding between me and Obi, let me assure you that not even a small issue is going to happen between us.

“Also, we are going to be behind anybody that will be chosen to represent us in the forthcoming elections,” he said about the meeting.

The Federal Government, Organised Labour, and the Private Sector have postponed the new minimum wage tripartite committee meeting until next Tuesday.

Naija News reports that the parties decided to postpone the meeting on Wednesday after organized labour rejected the federal government’s fresh offer of ₦57,000 minimum wage.

Recall the government increased its offer from ₦54,000 to ₦57,000 at the meeting but was rejected by the labour unions. Also, labour reduced its demand from ₦615, 000 to ₦497, 000.

However, a source privy to discussions at the meeting told Vanguard that the government team stuck to their offer of ₦57,000, and there is no sign of increasing the latest offer.

The source stated that it is a problem if the government cannot pay an appreciable salary increase, adding that the meeting has adjourned till next Tuesday.

The Labour member said the government’s offer was once again presented by the Minister of State for Labour and Employment, Nkeiruka Onyejeocha.

He said: “They are crying now. They are stuck at N57,000. There is a problem if the government cannot pay an appreciable salary increase. There is no sign that there is no money. We adjourned until next Tuesday.

“The government is insisting on N57,000, which is like wage reduction, how can you go and negotiate wage reduction because there’s nobody that is earning N57,000 now?

“We came down from N500,000 to N497,000 because when they increased by N3,000, we now came down by N3,000 too so that if they are joking, we also decided to joke, they are not the only ones who know how to joke. We came down to N497,000 when they came up to N57,000. We told them straight away that we didn’t accept the N57,000 offer.

“They pleaded with labour to accept their offer, we told them there was nothing to plead about. We told them to break down the N57,000 offer, so we will know how much they are allocating to transport, how much to accommodation, how much to health so that we know and not lump everything but they didn’t do that.”

Some of the government team members at the meeting included the Ministers of Finance, Wale Edun, and Budget, Atiku Bagudu, and Onyejeocha.

The Zamfara State government has announced that ₦30,000 will be the new minimum wage for workers in the state instead of ₦7,000.

The state governor, Dauda Lawal, who made the announcement yesterday, added that the ₦30,000 minimum wage for civil servants in the state will begin in June.

The Governor revealed this during a meeting with the leadership of the Zamfara State chapter of the Labour Union in Gusau, the state capital.

A statement from the spokesperson of the governor, Sulaiman Bala Idris, said the implementation of the minimum wage demonstrates the state government’s commitment to improving the well-being of employees.

He said, “The Zamfara State government will start paying a minimum wage of N30,000 instead of N7,000 effective June this year.”

Organised Labour has accused the Bola Tinubu-led federal government of deliberately frustrating Nigerian workers.

The labour movement made the accusation on Wednesday after it rejected the fresh offer of ₦57,000 minimum wage from the federal government.

Naija News reports that the Tinubu government proposed the amount during Wednesday’s meeting of the minimum wage tripartite committee in Abuja.

Recall the federal government increased its offer from ₦54,000 to ₦57,000, while labour reduced its demand from ₦615, 000 to ₦497, 000.

Speaking with Vanguard after the meeting, one of the labour leaders expressed his anger over the government’s attitude toward negotiating the new minimum wage.

The labour leader asserted that the government was not ready to negotiate or was not prepared for negotiation, saying that it was deliberately frustrating Nigerian workers.

He added that the government inflicted hardship on Nigerians with their ill-thought-out and unprogressive policies of subsidy removal and devaluation of the national currency.

He said: “Government cannot be telling us that there is no money; this is an insult. We did not remove subsidies or float the national currency. The government created this problem. Since the removal of the petrol subsidy and floating of the naira, has the government shown proof that the country has no money, no?

“We are aware that the government gave members of the National Assembly no less than N160 million each to buy cars, the same government has released N90 billion to subsidise hajj operations.

‘’The government has renovated the Senate chambers, and the vice president’s office, and it is buying luxury buses for Customs in millions of naira.

‘’They are also buying all manner of SUVs for government officers. Since the removal of subsidies, the government has been making life better for political elites who have been feeding fat on workers.

“Crude oil sales have increased considerably, and it has been getting more money in dollars while workers have been suffering and going deeper into poverty.

“The state governors have been receiving three times more than they were receiving before the removal of subsidy. We cannot accept this. We did not cause the socio-economic challenges the country is facing.

“The government inflicted these problems on the country with their ill-thought-out and unprogressive policies of subsidy removal and devaluation of the national currency. If the country has no money, let it reflect in the lives of government officials, their aides and cronies.

“It is becoming obvious that the government does not want industrial peace. And it is clearly evident that the government is not ready to negotiate. Well, if it is industrial unrest that will make the government do the right thing, we shall give it to them after the end of May.”

The Central Bank of Nigeria has mandated all existing Bureau De Change Operators to re-apply for new licenses in their preferred category.

This was announced on Wednesday in a circular issued by the apex bank, which was signed by the Director of the Financial Policy and Regulation Department, Haruna Mustafa.

However, BDC operators have rejected the new licensing guidelines, saying it is against best global practices.

However, the CBN noted that those adjustments aimed to streamline BDC operations and enhance financial accessibility.

The apex bank noted that the BDCs were expected to adhere to corporate governance requirements and anti-money laundering, counter-terrorism financing, and counter-proliferation financing provisions.

The latest circular comes a day after the Monetary Policy Committee of the apex bank raised the benchmark lending rate to 26.25 per cent to tackle the country’s soaring inflation.

Reading the communiqué of the meeting, the Governor of the CBN, Olayemi Cardoso, said, “Members further observed the recent volatility in the foreign exchange market, attributing this seasonal demand, a reflection of the interplay between demand and supply freely functioning market system.”

The naira has depreciated significantly since the CBN unified the country’s exchange rates, trading between 1,400/$ and 1,600/$ at the official and parallel markets in the last two weeks.

The new guidelines, which are an update on the draft that was exposed earlier in the year, go into effect on June 3.

The CBN removed the mandatory caution deposit, which the industry players had kicked against.

CBN set up two new categories; Tier 1 and Tier 2 BDC licences.

According to the new guidelines, “A Tier 1 BDC: a. May operate in any State of the Federation and the Federal Capital Territory, b. May establish branches and appoint franchisees in any state and FCT, subject to the written approval of the CBN. c. Shall maintain a minimum distance of one kilometre between its branches, its branch and a franchisee, and between its franchisees. d. Shall exercise oversight on its franchisees. All franchisees shall adopt their franchisor’s name, logo, branding, technology platform and regulatory rendition requirements. 2 Classified as Confidential: e. Shall comply with the franchising standards prescribed in this guidelines.”

A tier 2 BDC Licence allows the operator to operate from only one state of the federation or the FCT, and it is allowed to establish five branches in a state of operation, subject to the written approval of the CBN.

It is also required to maintain a minimum distance of one kilometre between its branches and is not allowed to appoint franchisees.

The BDCs (existing or new) would also be required to meet the capital requirements for their license category within six months.

Meanwhile, the President of the Association of Bureau de Change Operators of Nigeria, Aminu Gwadebe, speaking with The PUNCH said, “The requirement is huge. It is not in line with global practices. Capitalisation in the UK is 50,000 pounds; in Kenya, it is $50,000 and so on. I don’t think it reflects global practice. A BDC is not a deposit taker; it is only buying and selling.

“Also, I’m afraid, we would not go the way of Algeria when they came with such policies and at the end of the day, every other player runs to the open market operations and at the end of the day, Algeria had to look for that open market to even determine their local currency exchange rate. We should be careful so that we will not throw away our experience, capacity and investment,” he warned.

According to the ABCON president, the deadline given to BDCs is short.

“When you are giving other sectors, one year, or two years, why the rush with the sub-sector? The deadline is quite short. It is not feasible and then we should also guide against what we are trying to avoid.  The CBN in its mind is checkmating money laundering and we may meet money laundering in the future,” he argued.

According to the new rules, BDCs in the Tier 1 category would be required to have a minimum capital requirement of N2bn, pay N1m as a non-refundable application fee and N5m as a non-refundable licence fee.

The apex bank disclosed that Tier 2 BDCs would be required to have a minimum capital base of N500m, N0.25m as a non-refundable application fee and N2m as a non-refundable licence fee.

The new rules allow BDCs to participate in the Nigerian foreign exchange market as a dealer, following application and approval to the director of the Trade & Exchange Department for an authorised dealership licence.

The CBN said while BDCs could source dollars from individuals, adding, “Sellers of the equivalent of $10,000 and above to a BDC are required to declare the source of the foreign exchange and comply with all AML/CFT/CPF regulations and foreign exchange laws and regulations and customers may sell foreign currencies in their individual domiciliary accounts with Nigerian banks to BDCs. All such sales shall be credited to the BDC’s Nigerian domiciliary account.

“Every BDC shall conspicuously display its buying and selling rates. Such rates shall apply throughout all its branches, and where applicable, its franchisees. Disclaimers or statements by a BDC to the effect that an exchange rate indication is not to be relied on are prohibited. i. A BDC shall not give customers price indications which are misleading or make price comparisons which are not genuine or fair. Every BDC shall maintain adequate records of all its transactions for transparency and compliance with CBN Guidelines, AML/CFT/CPF provisions, circulars or directives,” part of the guidelines stated.

In terms of prudential requirements, the CBN said, “BDCs are required to observe the following prudential requirements:  Net Open Position (NOP) limit in foreign currency of the equivalent of 30 per cent of its shareholders’ funds unimpaired by losses or as may be determined by the CBN from time to time. Limit total borrowing to 50 per cent of shareholders’ funds unimpaired by losses and maintain insurance cover over cash (both naira and foreign currency) in office and in transit, fire, and staff fidelity.”

Ahead of the 2027 general elections, the All Progressives Congress (APC) says Mr Peter Obi and Mr Atiku Abubakar are desperate to be Nigeria’s President.

While Obi was the Labour Party’s presidential candidate in 2023, Atiku was the flagbearer for the Peoples Democratic Party (PDP).

Obi was Atiku’s running mate in the PDP during the 2019 general election.

Recently, there were reports of both opposition politicians coming to form an alliance that will sack the ruling APC in 2027.

Reacting to the development, the APC spokesman, Felix Morka, said Obi’s planned return to the PDP won’t be a surprise. He described the former Anambra State governor as a “political wayfarer that is only dwarfed by Atiku’s track record as a veteran political wanderer.”

“Atiku and Obi are united by their mutual desperation to be President of Nigeria and ignoble disdain for President Bola Tinubu’s focused and extraordinary commitment to the transformation of our nation,” the statement read.

“A recent visit by the presidential candidate of the Labour Party (LP) in the 2023 presidential election, Peter Obi, to his Peoples Democratic Party (PDP) counterpart, Alhaji Atiku Abubakar, has fueled speculations of a possible alliance between both men or merger of their political parties in the lead up to 2027.

“What is unclear, however, is whether Obi would make a comeback to Atiku’s PDP or whether Atiku would dump his PDP and seek rehabilitation in Obi’s Labour Party or whether both men would abandon PDP and Labour, altogether, and sojourn into the political wilderness of Professor Pat Utomi’s mega party.”

See the statement below:

ATIKU, OBI, UNITED BY MUTUAL DESPERATION

A recent visit by the presidential candidate of the Labour Party (LP) in the 2023 presidential election, Peter Obi, to his Peoples Democratic Party (PDP) counterpart, Alhaji Atiku Abubakar, has fueled speculations of a possible alliance between both men or merger of their political parties in the lead up to 2027.

What is unclear, however, is whether Obi would make a comeback to Atiku’s PDP or whether Atiku would dump his PDP and seek rehabilitation in Obi’s Labour Party or whether both men would abandon PDP and Labour, altogether, and sojourn into the political wilderness of Professor Pat Utomi’s mega party.

News of Peter Obi’s return to the PDP would be hardly surprising. His reputation as a political wayfarer is only dwarfed by Atiku’s track record as a veteran political wanderer. News of Atiku joining the Labour party will shock no one as he will be living up to his well established reputation as the country’s most itinerant politician. For now, Utomi’s mega party remains a figment with no offering of tangible accommodation for both men.

Atiku and Obi are united by their mutual desperation to be President of Nigeria and ignoble disdain for President Bola Tinubu’s focused and extraordinary commitment to the transformation of our nation. Their restless drift in search of convenient party platforms to execute their presidential run only belie the self-indulgent and opportunistic essence of their aspirations. Men without the staying power to build or fix their own parties, who flee at the slightest flicker of internal crisis cannot possibly be trusted by Nigerians to tackle serious and complex national political and economic challenges that confront our nation.

President Bola Tinubu embodies character, vision, tenacity and doggedness required to deliver a resurgent Nigeria of stable growth and development. The administration’s bold economic policy reforms and massive infrastructural uptake have already shattered historic barriers to growth, and paved the way for steady progress and development.

We urge Nigerians to stand fast in their invaluable support of our great Party and President Bola Tinubu’s determined commitment to deliver a stronger, secure and more prosperous country for us all.

Signed:

Felix Morka, Esq.

National Publicity Secretary

All Progressives Congress (APC)

The Central Bank of Nigeria has updated its regulatory guidelines for Bureau De Change operators.

After consulting with stakeholders, the following changes were made:

The mandatory caution deposit of N200m for tier-1 BDC licence holders has been removed.

Similarly, N50m for tier-2 licence holders has also been waived.


The non-refundable annual licence renewal fee has been withdrawn.

Previously, tier-1 BDCs paid N5m, while tier-2 BDCs paid N1m for renewal.

The bank noted that these adjustments aim to streamline BDC operations and enhance financial accessibility.


The Director, Financial Policy and Regulation Department at the apex bank, Haruna Mustafa disclosed this in a circular uploaded to the bank’s website on Wednesday.

Mustafa stated that existing BDCs must re-apply for a new licence based on their preferred tier or licence category as outlined in the guidelines.

New BDC licence applicants must meet the conditions specified for their chosen BDC category.

Existing BDCs must meet the minimum capital requirements for their selected licence category within six months from the effective date of the guidelines.

The guidelines also revised permissible activities for BDCs, ensuring alignment with market needs and regulatory standards.

Mustafa noted that the BDCs are expected to adhere to corporate governance requirements and anti-money laundering, counter-terrorism financing, and counter-proliferation financing provisions.

The bank added that receipt and processing of license applications will begin from the effective date of the guideline.

It said that interested applicants should submit the following information electronically to This email address is being protected from spambots. You need JavaScript enabled to view it.: Name of the promoter, Name of the proposed BDC, E-mail address of the promoter, Phone number of the promoter

These guidelines replace the Revised Operational Guidelines for Bureau De Change in Nigeria issued in November 2015 and all related circulars and directives.

The Regulatory and Supervisory Guidelines for BDC Operations take effect from June 3, 2024.

The circular partly read, “As part of reforms to re-position the Bureau De Change (BDC) sub-sector to play its envisioned role in the foreign exchange market in Nigeria, the Central Bank of Nigeria (CBN) issued the Draft Operational Guidelines for BDC Operations in Nigeria in February 2024, for stakeholder comments/inputs.

“Following the conclusion of the stakeholder consultations and in the exercise of the powers conferred on it by Section 56 of the Banks and Other Financial Institutions Act (BOFIA) 2020, the CBN hereby issues the attached Regulatory and Supervisory Guidelines for Bureau De Change Operations in Nigeria 2024 for compliance by all operators and promoters of proposed BDCs in Nigeria.

“The guidelines, amongst others, introduce new licensing requirements and categories of BDCs as well as revise the permissible activities, financial requirements, corporate governance requirements and AML/CFT/CPF provisions for BDCs.

“All existing BDCs shall: Re-apply for a new license according to any of the Tiers or license categories of their choice as provided in the Guidelines.


“Meet the minimum capital requirements for the license category applied for within six (6) months from the effective date of the Guidelines.

“Applicants for New BDC License Applicants for a new BDC license are required to meet the conditions for the grant of license in accordance with the Tier or category of BDC chosen as stipulated in the Guidelines. Receipt and processing of applications for license shall commence from the effective date of the Guidelines.”

George Akume, secretary to the government of the federation (SGF), says Nigeria has witnessed significant strides in various sectors of the economy since President Bola Tinubu assumed the reins in May 2023. 

The Tinubu administration has rolled out a slew of policies that have aggravated the economic hardship on Nigerians, notably the removal of subsidy on petrol and the “float” of the naira. Speaking at the ‘Ministerial Sectoral Updates’ in Abuja on Wednesday, Akume said the administration has also rolled out social intervention programmes to mitigate the hardship.

“I make bold to say that, Nigeria, under its present stewardship, has witnessed significant policy strides in various sectors including but not limited to,” the SGF said.

“i. The Presidential accent to the 2023 Electricity Bill, a move that dismantled monopolistic control over electricity generation, transmission and distribution at the national level and granted authority to State Governments, Corporations and individuals to generate, distribute and transmit electricity, thus decentralizing the power sector;

“ii. Accent to the passage into law of the Nigeria Data Protection Bill 2023 that established a legal framework for safeguarding personal information and promoting data protection practices in Nigeria; and

“iii. The challenging but very necessary Removal of Fuel Subsidy, a longstanding policy notorious for fostering corruption, inefficiency and imposing significant fiscal strain on the government annually, and primarily benefitting the affluent and smugglers, rather than effectively aiding the general populace.

“​It is apt to say that under President Tinubu’s stewardship within his first year in office, we have witnessed significant strides in various sectors of our economy.Through prudent fiscal policies and strategic investments, the Nigerian economy has shown resilience and potential for growth.

“The administration’s focus on infrastructure development, job creation and economic diversification has laid the foundation for sustainable progress and prosperity for all Nigerians. Furthermore, the government’s commitment to good governance and the rule of law has strengthened our democratic institutions and enhanced transparency and accountability in governance.”

Akume added that citizens should be part of nation building because it is not the sole responsibility of government.
“Let us therefore rededicate ourselves to the ideals of unity, peace and progress by working together towards realizing the full potential of our great nation,” Akume added.

Atalanta winger, Ademola Lookman, has said the 3-0 win over Bayer Leverkusen in the Europa League final on Wednesday is one of the “best nights of my life’.

Lookman scored twice in the first half and once after the break, as they became the first Serie A team to win the title.

The win also ended Leverkusen’s 51-game unbeaten run in emphatic style. 

Lookman, speaking to TNT Sports, said: “One of the best nights of my life.

“Amazing performance from the team, we did it, we did it, we did it! Not got much else to say but yeah fantastic.

“They do always say third time lucky, so yeah it is for us today [winning a final at the third attempt this season]. I’m just happy we won. We won today so yes very pleased.”