The Central Bank of Nigeria, CBN, has lifted its ban on onboarding new customers imposed on five prominent fintech startups: Paga, OPay, Kuda, Palmpay, and Moniepoint with immediate effect

Opay in a statement on Monday through its official X handle announced that the apex bank has lifted the ban.

“We are thrilled to announce that the Central Bank of Nigeria has given OPay
the thumbs up to resume onboarding new users,” Opay stated.

 

This is coming after the expiration of a May 31 deadline given to the fintechs to meet Know Your Customer, KYC, and other regulatory requirements.

The governor of CBN, Olayemi Cardoso, had, at the end of the 295th Monetary Policy Committee, MPC, meeting, hinted that the ban on four fintech banks will be lifted soon.

Cardoso added that the central bank did not revoke any fintech banks’ licenses.

The development comes after CBN on April 30 restricted the four banks from onboarding new customers over allegations of being used for illicit foreign exchange transactions.

The Nigeria Labour Congress, NLC, has reacted to reports that soldiers had surrounded the venue of its meeting with the Secretary to the Government of the Federation, SFG, George Akume.

 

 Labour via its official Twitter handle now X Platform, warned that any attempt to intimidate its leaders will worsen the situation.

 

“Any attempt to intimidate, provoke or blackmail our leaders at the negotiation table would worsen the issue and further prolong our action indefinitely. Our leaders are acting in accordance with the directives of our organs. Viva! Organized labour. Viva! Working people of Nigeria”, Labour said on it handle.

 

Vanguard had reported how SFG, George Akume, summoned the leadership of the Organised Labour for a meeting.

 

Though the source did not reveal the reason for the meeting, it won’t be unconnected with the minimum wage and ongoing strike across the country.

Edo North senator, Adams Oshiomhole, on Sunday declared that the All Progressives Congress, APC, will return to power at the end of Governor Godwin Obaseki’s tenure in November.

Oshiomhole said Edo State will rise again starting November 12 when APC governorship candidate, Monday Okpebholo, succeeds Obaseki.

He spoke at the new APC secretariat on Ikpokpan Road, off Boundary-Sapele Road in Benin, while welcoming a PDP chieftain, Nosa Adams, along with thousands of PDP members into APC.

 

According to Oshiomhole: “We will work very hard to ensure the defeat of PDP, Labour Party, and the 13 other participating political parties in Edo.

“APC will return to governance of Edo State on November 12, 2024, when the second tenure of PDP’s Godwin Obaseki will expire.

“Okpebholo, a grassroots politician, will re-ignite the engines of growth and development in this great Edo State, without speaking big grammar, consultancy or memoranda of understanding.

“We need a governor who can do, not a governor who can talk. Okpebholo, the incoming governor, will work very hard for Edo residents.

“The way to keep a political party together is to respect the elders. I am very excited with the transparent manner in which Nosa Adams meticulously identified and presented the defecting members of the executive at the ward and local government levels in Egor LGA of Edo State. No PDP member is left in Egor LGA.”

.Say intnl wing has 24-hr window

 

Following the industrial action declared by the Nigerian Labour Congress, NLC, and the Trade Union Congress, TUC, over the Federal Government’s refusal to raise the proposed minimum wage from N60,000, hundreds of passengers have been left stranded at Murtala Muhammed Airport.

 

MMA2 and General Aviation Terminal, GAT, otherwise known as MMA1, of the Murtala Muhammed Airport, had been locked as early as 6.30a.m.

The aviation unions had locked the gates leading to the airport building leaving passengers outside, although flights are ongoing at the international terminal of the airport.

Secretary General of the National Union of Air Transport Employees, NUATE, who spoke to Vanguard, said: “GAT and MMA2 which are the domestic terminals of airports in Lagos are under lock and key based on the directive of the NLC and TUC. Aviation workers have called a strike in the domestic terminals.

“It will extend to the international terminals by tomorrow. The international airport has a 24-hour window. Nothing is being disturbed there today. As long as the directives from NLC and TUC remains, the strike action would continue.”

[Vanguard]

The Central Bank of Nigeria (CBN) says it has revoked the licence of Heritage Bank Plc with immediate effect. 

The regulator said the decision followed the bank’s inability to improve its financial performance.

The apex bank announced the revocation in a statement on Monday signed by Hakama Ali, its acting director, corporate communications.

The CBN said the move is in accordance with its mandate to promote a sound financial system in Nigeria and in exercise of its powers under section 12 of the Banks and Other Financial Act (BOFIA) 2020.

 

“This action has become necessary due to the bank’s breach of Section 12 (1) of BOFIA, 2020,” the statement reads.

“The Board and Management of the bank have not been able to improve the bank’s financial performance, a situation which constitutes a threat to financial stability.

“This follows a period during which the CBN engaged with the bank and prescribed various supervisory steps intended to stem the decline.”

 

The CBN said Heritage Bank has not improved and “has no reasonable prospects of recovery”, thereby making the revocation of the licence the next necessary step.

“Consequently, the CBN has taken this action to strengthen public confidence in the banking system and ensure that the soundness of our financial system is not impaired,” the further statement reads.

“The Nigeria Deposit Insurance Corporation (NDIC) is hereby appointed as the Liquidator of the bank in accordance with Section 12 (2) of BOFIA, 2020.

“We wish to assure the public that the Nigerian financial system remains on a solid footing.”

 

The CBN noted that the revocation reflects its continued dedication to take all necessary steps to ensure the safety and soundness of Nigeria’s financial system.

[TheCable]

The Federal Government has admonished workers to refrain from partaking in the indefinite nationwide strike declared by the Labour Union.

It warned that any worker who joins the industrial action risks six months jail term.


In a statement on Sunday, Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), said there is a subsisting valid court injunction restraining the Labour Union from embarking on any strike.

Fagbemi also noted that Section 18 of the Trade Disputes Act mandates a worker employed in any essential services to give their employer 15 days notice before ceasing their services and any who did not comply would be liable on conviction to a fine or imprisonment for six months.

He said the fundamental importance of the 15-day notice is underscored by the fact that Sections 41 and 42(1)(b) of the Act criminalize non-compliance with the provision.


He noted that the federal government had been engaging stakeholders in the tripartite committee to determine a new national minimum wage and had not declared an end to negotiation.

The AGF further noted that the proposed strike is a violation of an order of the National Industrial Court and ongoing mediators’ settlement efforts to resolve the minimum wage impasse.

“You are further invited to recall the pendency of the interim injunctive order granted on 5th June 2023 in suit no: NICN/ABJ/158/2023 — FEDERAL GOVERNMENT OF NIGERIA & ANOR VV. NIGERIAN LABOUR CONGRESS & ANOR, which order restrained both Nigeria Labour Congress und Trade Union Congress from embarking on any industrial action or strike of any nature,” he said.

“While the government assures that it would continue to adopt a conciliatory approach to resolving matters pertaining to workers and citizens welfare in the spirit of collective bargaining, I would like to urge you to kindly reconsider the declaration of strike action and return to the ongoing negotiation meetings, which has been adjourned to a date to be communicated to parties.

“This would be a more civil and patriotic approach and will enable your Congress pursue its cause within the ambit of the law and avoid foisting

The Inspector-General of Police, IGP Kayode Egbetokun has urged Nigerians not give out their hard-earned money or properties regardless of intimidation by police officers.

Egbetokun made this statement in Abuja at the force headquarters during a meeting with key officers responsible for the internal control mechanisms of the police.

According to the IGP, his leadership of the police would bridge the trust deficit between the force and members of the public.

Egbetokun called for a prompt dispensation of justice against erring police officers and the implementation of measures to curb unprofessionalism

 
 

“Over the years, we have observed that the conduct of some personnel significantly deviated from the expectations of the force leadership,” the IGP said.

“Officers who are supposed to uphold the value of integrity and upon whom society places high moral expectations are frequently seen breaching the trust placed in them by the public.

“At this junction, I want to emphasize that while we continue to implement internal measures to curb acts of extortion and other vices, the citizens must join hands with us.

“I urge the public never to succumb to intimidation or part with their hard-earned money or properties unjustly,” he added.

The police boss urged Nigerians to report infractions committed by police officers to the appropriate authorities.

He also directed the senior officers to make necessary recommendations for personnel who demonstrate acts of courage, integrity, and humanity.

[Newspot]

With a landslide victory on Sunday, Claudia Sheinbaum became Mexico’s first female president, creating history in a nation rife with gender-based and criminal violence.

Celebrating the triumph of the ruling party candidate, supporters waving flags in Mexico City’s main square danced and sang along to mariachi music.

“I want to thank millions of Mexican women and men who decided to vote for us on this historic day,” Sheinbaum told the cheering crowd.

 

“I won’t fail you,” the 61-year-old former Mexico City mayor vowed.

She thanked her main opposition rival Xochitl Galvez, who conceded defeat.

Sheinbaum, a scientist by training, won around 58-60 percent of votes, according to preliminary official results from the National Electoral Institute, which estimated turnout at 60 percent.

 

That was more than 30 percentage points ahead of Galvez, and some 50 percentage points ahead of the only man running, long-shot centrist Jorge Alvarez Maynez.

Voters had flocked to polling stations across the Latin American nation, despite sporadic violence in areas terrorized by ultra-violent drug cartels.

Thousands of troops were deployed to protect voters, following a particularly bloody electoral process that has seen more than two dozen aspiring local politicians murdered.

 

“Our society is violent, sexist, misogynistic and Dr. Sheinbaum as president will really be able to help change not only the laws but society,” said Lol-Kin Castaneda, 48, who waited late into the night to hear the winner speak.

“Mexico can’t stand any more violence,” she added.

– ‘Transformation’ –

 

Women going to the polls had cheered the prospect of their favored candidate breaking the highest political glass ceiling in a country where around 10 women or girls are murdered every day.

“A female president will be a transformation for this country, and we hope that she does more for women,” said Clemencia Hernandez, a 55-year-old cleaner in Mexico City.

“Many women are subjugated by their partners. They’re not allowed to leave home to work,” she said.

 

Daniela Perez, 30, said that having a woman president would be “something historic,” even though neither of the two main candidates was “totally feminist” in her view.

“We’ll have to see their positions on improving women’s rights, resolving the issue of femicides,” added the logistics company manager.

Nearly 100 million people were registered to vote in the world’s most populous Spanish-speaking country, home to 129 million people.

 

Sheinbaum owes much of her popularity to outgoing President Andres Manuel Lopez Obrador, a fellow leftist and mentor who has an approval rating of more than 60 percent but is only allowed to serve one term.

Lopez Obrador congratulated his ally with “all my affection and respect.”

As well as being the first woman to lead Mexico, “she is also the president with possibly the most votes obtained in the history of our country,” he said.

 

After casting her ballot, Sheinbaum revealed she had not voted for herself but for a 93-year-old veteran leftist, Ifigenia Martinez, in recognition of her struggle.

– ‘Hugs not bullets’ –
In a nation where politics, crime and corruption are closely entangled, drug cartels went to extreme lengths to ensure that their preferred candidates win.

Hours before polls opened, a local candidate was murdered in a violent western state, authorities said, joining at least 25 other political hopefuls killed this election season, according to official figures.

 

In the central Mexican state of Puebla, two people died after unknown persons attacked polling stations to steal papers, a local government security source told AFP.

Voting was suspended in two municipalities in the southern state of Chiapas because of violence.

Sheinbaum has pledged to continue the outgoing president’s controversial “hugs not bullets” strategy of tackling crime at its roots.

 

Galvez had vowed a tougher approach to cartel-related violence, declaring “hugs for criminals are over.”

More than 450,000 people have been murdered and tens of thousands have gone missing since the government deployed the army to fight drug trafficking in 2006.

The next president will also have to manage delicate relations with the neighboring United States, in particular the vexed issues of cross-border drug smuggling and migration.

 

As well as choosing a new president, Mexicans voted for members of Congress, several state governors and myriad local officials — a total of more than 20,000 positions.

[OpinionNigeria]

The Nigerian Labour Congress has ordered Nigerian workers to remain at home as the Nationwide strike commences today June 3.

 The NLC made this known in a post shared on its X handle this morning June 3.  

The decision of the Organised Labour to continue with its nationwide strike followed the deadlock meeting it had with the Federal Government and the National Assembly leaders over a new national minimum wage and reversal of the recent hike in electricity tariffs. 

The labour unions argue that the current minimum wage of ₦30,000 can no longer cater to the wellbeing of an average Nigerian worker, lamenting that not all governors are paying the current wage award which expired in April 2024, five years after the Minimum Wage Act of 2019 was signed by former President Muhammadu Buhari. The Act should be reviewed every five years to meet up with contemporary economic demands of workers. 

 

Labour later handed the Federal Government a May 31 deadline for the a new minimum wage. On May 31, the Labour union declared a nationwide strike beginning from Monday, June 3, 2024 over the government committee’s inability to agree on a new minimum wage and reversal of electricity tariff hike. 

 

During the failed talks with the government, Labour rejected three government’s offers, the latest being N60,000. Both the TUC and the NLC subsequently pulled out of negotiations, insisting on ₦497,000 as the new minimum wage.

The Police in Anambra State says it has deployed its operatives to strategic parts of the state to ensure that any attempt to enforce the strike declared by the Nigeria Labour Congress (NLC) is thwarted.

A press release by the spokesperson of the state command, SP Tochukwu stated that the command stands with the federal government which has declared the strike as illegal, and will stop at nothing to thwart its enforcement, including any attempt by unscrupulous elements to hijack the enforcement and cause breach of peace.

Ikenga in the release said: “The Federal Government has declared the planned strike by the Nigerian Labour Congress as illegal and premature.

 

“The Anambra State Police Command reiterates the command’s commitment to enforce the legal recommendations and calls for caution to prevent a breach of public safety and peace.

“Police operatives have been deployed to different strategic areas, and tasked with the responsibility against any miscreants using the opportunity to cause any breach of public safety and peace in the state.

“The Command understands the right of organized labour to engage in such actions to advocate for the interests of all workers, but noted the importance of adherence to the existing laws governing such activities.

“To this end, the command encourages the good people of the state to go about their lawful businesses and be law-abiding, vigilant, and security-conscious.”

The command called on residents of the state to use their helplines to report any security-related incident for prompt response.

“The ‘npf rescue me app’ is also available for free download on both Android and Apple IOS, for Android and iPhone users respectively,” the command said.