The Organised Labour has rejected a fresh minimum wage proposal by the Nigerian Government.
Channels Television reports that the Organised Labour, comprising the Nigeria Labour Congress, NLC, and the Trade Union Congress, TUC, rejected the offer of the Federal Government to pay N60,000 as new minimum wage,.
It was also gathered that labour had shifted grounds from its N497,000 proposal to N494,000.
Channels Television said a prominent member of the Tripartite Committee for the negotiation of a new minimum wage for Nigerian workers revealed that the Federal Government and the Organised Private Sector side of the talks proposed a N60,000 monthly minimum wage as against the N57,000 they tabled last week when the committee resumed negotiations.
DAILY POST recalls that the government had initially proposed N48,000 and N54,000, which were also rejected by Organised Labour.
However, Labour had also presented N615,000 as the new minimum wage but saw reasons to drop their demand from to N497,000 last week and then to N494,000 on Tuesday.
The Tripartite Committee is yet to agree on a new minimum wage with three days to the May 31 deadline the labour unions gave to the government.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said that the Nigerian economy was experiencing a positive growth rate of 2.99 per cent, surpassing the 2.3 per cent growth seen in the first quarter of 2024.
Edun made this disclosure during the presentation of his ministry’s performance, one year into the administration of President Bola Tinubu in Abuja on Tuesday, May 27.
According to him, the improvement in economic growth highlights the effectiveness of President Bola Tinubu’s economic strategy.
“This growth in agriculture provides the monetary authority with the leverage needed to stabilize foreign exchange (FX) rates,” Edun explained. “By continuing on this path and intensifying our efforts, we are on track to lift many Nigerians out of poverty,” He said.
The minister, who said that revenue collection had also seen significant improvements, added that it has enabled the government to service its debts without resorting to the Central Bank’s Ways and Means advances, a practice that has previously been a cause for concern regarding fiscal discipline and inflation.
The finance minister emphasized that these positive economic indicators reflect the current administration’s commitment to sustainable economic growth and fiscal responsibility.
ECOWAS At 49: ‘Despite Our Achievements, Insecurity Threatens Our Region’ — President Touray
AFOLABI
As the Economic Community of West African States (ECOWAS) commemorates its 49th anniversary on May 28, the President of the commission, Omar Touray said insecurity has continued to threaten the region despite its achievements.
Touray’s assertion was contained in a statement made available to THE WHISTLER on Tuesday, where he called on the region, to regardless,
recall some of the commission’s positive results.
“These achievements can be seen in many areas including free movement of our people, intra-community trade, regional energy, and transport infrastructure, governance as well as in peace and Security.
“ECOWAS may have realised many achievements, but the Community continues to face a number of challenges.
“As we celebrate our 49th anniversary, insecurity continues to threaten our region.
“Some of our member states are battling terrorist groups on a daily basis and a large number of our population face displacement and food insecurity.”
Touray noted that it was pertinent that the region stays united to successfully win the war against insecurity. “But it is our unity which now stands threatened,” he said.
He called on the member states to do everything to preserve the unity, even as it aligns with the theme of this year’s anniversary: ‘Strengthening regional unity, peace and security’.
The theme, according to Touray was chosen to reflect the region’s current challenges and the need to work to preserve regional unity and peace as envisioned by its founding fathers like General Yakubu Gowon who ensured the security and integrity of the region was protected.
“I would like to take this opportunity to thank our leaders, both past and present, members of the Community as well as the staff of all ECOWAS institutions and agencies for the sacrifices they make every day to promote our community objectives.
“I would also like to extend my gratitude to all our local and international partners for their consistent support to ECOWAS in the implementation of the various community projects and programmes.
“We are convinced that in unity, we will preserve peace and strengthen our actions for the security of our Member States and our people.
“Through unity, we will preserve regional stability and the harmonious political and socio-economic development of our community,” Touray said.
The leader of Afenifere, the pan-Yoruba socio-cultural and socio-political organization, Chief Reuben Famuyide Fasoranti, has backed President Bola Ahmed Tinubu led administration on the step taken to grant the 774 local government areas in the country full autonomy.
This was contained in a congratulatory message marking the first year anniversary of President Tinubu.
The statement was signed by Afenifere National Publicity Secretary, Comrade Jare Ajayi.
Ajayi quoted Pa Fasoranti as expressing delight on some bold steps that the President has taken in the last one year aimed at repositioning Nigeria adroitly.
“Before, during and after the Presidential election that brought you into the office last year, I gave you some ideas regarding how to tackle some challenges that Nigeria faced – and still faces. We also spoke about some of these issues when I led Afenifere delegation to your office in Abuja last month.”
“I’m happy to note that, in line with your promises, you are making efforts at implementing policies that will enhance the situation of our dear country and better the lot of the people,” Pa Fasoranti stated.
The nonanegarian said that the reforms initiated by the government have the prospect of revamping the country’s economy and reducing the mutual distrust among the ethnic nationalities in the country.
According to Ajayi, the Leader particularly commended Tinubu on his government’s effort to rescue local governments from the strangulating grip of state governors.
“It’s undebatable that local government is the closest to the people. For, it is through it that the people at the grassroots can effectively feel the impact of the government.
“As the situation is presently however, the tight grip that state governors have on local governments is seriously denying the people of the benefits they should, by right, be deriving from their local governments.
“It’s in this respect that Pa Fasoranti, described the latest step taken by the Attorney General Lateef Fagbemi on behalf of the federal government as a step in the right direction”, Ajayi quoted Fasoranti who is also the Asiwaju of Yoruba, as saying.
While expressing optimism that steps being taken by the government will soon soothe the pains of Nigerians, Fasoranti called on President Tinubu to further look in the direction of infrastructure such as power and transport among others.
“Security is an important factor in any social equation. For, it’s in a situation where people are secured that they would be able to confidently engage in activities that will boost the economy and enhance inter-personal relationships.
“In order to institutionalize reforms being made, accelerate developments, enhance people’s participation in governance and engender the desired new Nigeria, there is the urgent need to restructure the country.
“Restructuring will deepen people’s participation in governance, boost the creativity of Nigerians and guarantee the future of the country”.
The President and Commander-in- chief of the Federal Republic of Nigeria, Bola Ahmed Tinubu will on Wednesday deliver an address at the joint sitting of the Senate and House of Representatives to mark 25 years of democracy/Legislature in Nigeria.
The President is also expected to commission the new National Assembly Library as part of the events slated for the 25 years celebration.
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The joint sitting to commemorate Nigeria’s unbroken democracy will be the first of its kind by the National Assembly since the inception of the Fourth Republic in 1999.
The two chambers only sit jointly during the budget presentation by the President. However, Wednesday’s sitting will be historic in the country’s democracy.
This is contained in a statement signed by the Clerk to the national assembly, Sani Magaji.
The statement reads, “President Bola Ahmed Tinubu is expected to deliver an address at the Joint sitting of the National Assembly on Wednesday.”
“The President is also expected to commission the new National Assembly Library as part of the events slated for the 25 years celebration.”
“Also expected to attend the joint session in the national assembly are Vice President Kashim Shettima, Chairman of the Nigeria Governors’ Forum (NGF) and governor of Kwara State, Gov. Abdulrahman Abdulrazaq.”
“The chairman of the Progressives Governors’ Forum, who is the governor of Imo State, Gov. Hope Uzodinma; the Secretary to the Government of the Federation (SGF), Senator George Akume, and the Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila.”
“The Minister of the Federal Capital Territory (FCT), Barr. Nyesom Wike; the Clerk to the National Assembly, Alhaji Magaji Tambuwal, the Senior Special Assistants to the President for both the Senate and the House, among others.”
“There will be commemorative lectures on 25 Years of the National Assembly: Lessons & Opportunities at the joint sitting.”
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“While Gbajabiamila, who served as the Speaker of the 9th House (2019-2023) will deliver a paper on ‘Reflections on the House’, Distinguished Senator (Dr.) David Mark, GCON, the President of the 6th & 7th Senate (2007-2015), will speak on ‘Reflections on the Senate.”
“Former Head of State, General Abdulsalami Abubakar, will also deliver a paper on’ Reflections on the Journey to Democracy.”
Governor Alex Otti of Abia State says non-enrollment of school-age children in the state will now be criminalised.
He warned that parents and guardian who don’t register their children or wards of school age will be seriously penalised.
He issued the admonition while speaking at Umuahia Township Stadium during the 2024 Children’s Day celebration.
He stated that the policy will receive a legislative backing from the Abia State House of Assembly which would prescribe a penalty for offenders.
“From now on it is an offence for any child that is of school age not to be sent to school.
“We are going to back that up with a legislation and that legislation will prescribe penalties for any parent who refuses to bring out his child for education,” he said.
He also disclosed that there will be scholarship for children whose parents are financially disadvantaged, to ensure that every child of school age goes to school, promising that no child in the state would be marginalized or molested.
He further abolished payment of levies for special books by students of the school for the blind, Afaraukwu, and donated a bus to them.
The governor, who broke down in tears at Umuahia Township Stadium while taking salute from pupils, said he was pained by the plight of the children with special needs like the deaf.
He apologized to Abia children for the past administrations which owed teachers salaries and environments left to rot.
The House of Representatives has announced plans to investigate allegations of widespread financial misappropriation in the Federal Ministry of Women’s Affairs.
Hon. Kafilat Ogbara, Chairman of the House Committee on Women Affairs, disclosed this during an investigative hearing regarding petitions from contractors. The petitions concern the payment of N510 million to contractors who did not participate in the bidding process. This hearing was convened by the House Committee on Procurement, chaired by Hon. Unyime Idem.
At the hearing last Tuesday, Hon. Unyime Idem presented the petitions to the Minister, addressing the issue of the N510 million payments to non-participating contractors.
He said: “The matter that brought all of us here this afternoon is about a petition that was brought to us last month. The petition is about some projects in your ministry to the tune of N510 million that were bidded and subsequently award letter was given to the bidders, that is the contractors.
“But surprisingly, while some of the contractors according to their claims said they have executed the projects and some said they were still waiting to get mobilisation from your Ministry to enable them execute the projects, they were shocked to know that some of those projects were already paid for by the Ministry of Finance.
“From their discoveries, when they visited the Ministry of Finance and they found out that while either the money they spent to execute the contracts were not paid or the request they made in your Ministry asking for mobilisation was not paid and the Ministry told them that all those projects we’re paid for.
“And unfortunately they paid into the wrong account. What I mean by wrong account is that the people they paid the money to or the contractor they paid the money to, did not take part in the bidding process they were not given award letters but were surprised too that the money were paid to the account that did not take part in the entire procurement process.
“So, the contractors numbered about 10 came to the National Assembly to protest of irregularity that is going on regarding the process. In fact, they described the process as procurement fraud, that it’s incumbent upon the Committee in charge of Procurement to come to their rescue by asking the Ministry to reverse the N510 million from the wrong accounts that the money were paid to, to their own accounts.
“Because they claimed that some of them have already done the job while some said that ‘wait they are waiting for mobilization’. So, that’s why we are here,” the lawmaker noted.
Idem further disclosed that the Committee has written the office of the Accountant General, to furnish this Committee with the position of this alleged malpractice or fraud that is rocking this particular contract. We wrote to that office and they have given us the details of the payment they have made in respect to the projects in question.
“So, we have those documents with us here, so we’d like to hear from you because I think the last time we met I gave the Ministry the assignment to contact the Ministry of Finance and Accountant General to confirm if the documents submitted to us are anything to rely on in terms of being the evidence before this committee.
“So, I don’t know whether you have been able to confirm what we sent to you or whether you have gotten independent information regarding these transactions?”
Hon. Udem also affirmed that there are some of the aggrieved contractors present during the investigative hearing.
In her intervention, Chairman, House Committee on Women Affairs, Hon. Ogbara who expressed displeasure over the inordinate attitude of the Minister to the Committee, argued that she has not been cooperative despite all efforts made to synergize with her.
She said: “I’ve got so many petitions already against her. Even the people working with the Ministry, have complained that she works alone.
“Apart from the excuse she has given that she wants to try and get her people to come with her, the Perm Sec and relevant personnel that need to appear before this Committee, I will just want to appeal to the chairman to give her time, not too long because we also inviting her from the Committee on Women Affairs very soon.
“The notice is already out, I don’t know whether they’ve sent it to her office. So, we also invited her, because I don’t understand, I have been trying to work cordially with her as a woman. As women supporting women, we should work together, but when you’re trying to work with somebody and the person is not even trying to learn or trying to work in the way you expect.
“Now, there are so many petitions, diversion of money, misappropriation of funds, people’s jobs in the Ministry. You just misappropriate paned the money, anyway, anyhow from all the complaints that we have got, so we are going to invite her from the Committee as well, and I want the Chairman to choose the nearest day possible.
“All the personnel she’s talking about, they are right there, they are indoors in the Ministry, if you want them to come tomorrow morning, they should be here. Even when the Committee went to the Ministry on oversight, they didn’t have records to show and they were just mixing up different things, with different terminology, misappropriated a lot of funds for different projects, they used the same name just turn it to another name, you know, duplication of contracts and all that. I can go on and on,” Ogbara lamented.
In response to the inquiry, Minister of Women Affairs, Mrs. Uju Kennedy-Ohaneye said: “after we came here the last time, the information given by the Accountant General’s office was wrong, they gave you totally wrong information.
The Senator representing Ondo South Senatorial District, Jimoh Ibrahim has announced the formal withdrawal of a lawsuit filed to seek nullification of the primary election that produced Governor Lucky Aiyedatiwa.
From the April 20 primary election, Aiyedatiwa emerged as the All Progressives Congress governorship candidate for the forthcoming election in Ondo State.
The situation didn’t go well with the senator which made him approach a Federal High Court in Abuja, citing irregularities.
Ibrahim, in a Tuesday statement, said this decision was a result of a personal intervention by President Bola Tinubu who reached out to him and had a productive meeting.
According to him, he noted that Tinubu assured him of his commitment to enhancing internal democracy within our party.
“Based on his assurances and leadership, I have decided to withdraw the case to support his efforts to pave a new way forward for our party,” he said.
The senator also noted Aiyedatiwa’s effort and urged the general public to see the withdrawn suit as a gift to mark Tinubu’s one year in office.
These were disclosed in the statement titled, “Presidential intervention and notice of withdrawal suit No
FHC/ABJ/CS/588/2024.”
He acknowledged his “absolute” respect for Tinubu saying that he can never disobey him.
It read, “The suit is now withdrawn due to the intervention of President Bola Ahmed Tinubu GCFR. The President called me and had a meeting with me.
“He assured me that he would as the leader of the party improve on internal democracy within our party, and I would need to withdraw the case to enable him to chart a way forward.
“The Governor of Ondo State, Lucky Aiyedatiwa earlier visited my Asokoro residence for several hours after another unsuccessful visit to my hotel room in Akure.
“I cannot disobey the President of the Federal Republic of Nigeria because the issue I am fighting for is not personal.
“It is simply to improve internal democracy to which the President has promised improvement. My respect for the President is absolute!
“Let me use this opportunity to thank Mr. President for the words of wisdom and encouragement during my meeting with him which lasted over one hour and his various interactions with me on the telephone during which he emphasized his commitment to internal democracy over and over again. Thank you, Mr. President.”
According to the statement, the withdrawal of this “legendary suit” is concise with the first anniversary of Mr President’s incredible performance in office, and this is my gift of the “cake” of the first anniversary! Thank you all for your support.
Meanwhile, the APC in Igbotako Ward II, Okitipupa Local Government Area of Ondo State suspended Ibrahim, whom they alleged was involved in anti-party party activities.
However, the action was immediately countered.
In a swift reaction, another group of 55 members of the party, who identified themselves as members of the same Igbotako Ward II executive and in Okitipupa Local Government, disagreed with the purported suspension of Ibrahim as they passed a vote of confidence in the senator.
The Federal Housing Authority (FHA) is set to commence a comprehensive verification exercise of all its lands and houses across Nigeria. This move aims to authenticate the records of all allottees.
This verification exercise follows the recent launch of FHA’s digitalization initiative, designed to capture the agency’s legitimate allottees’ data accurately. According to an advertorial published on Monday, May 27, 2024, in major newspapers, the exercise will begin on June 3, 2024, at all Zonal offices of the agency nationwide and will continue for 90 days.
The Public Relations Officer, Mr. Kenneth Chigelu, urged all genuine allottees to take advantage of this opportunity to update their relevant information in the FHA database. He also encouraged all allottees with outstanding statutory payments to clear their liabilities during this period.
Chigelu noted that the FHA would enforce the relevant clauses in the allocation letters against any erring allottees to ensure compliance.
[PRESS RELEASE ]Access Bank Group, Aig-Imoukhuede Foundation Pledge $300m to Transform Africa’s Economic Landscape
Admin![[PRESS RELEASE ]Access Bank Group, Aig-Imoukhuede Foundation Pledge $300m to Transform Africa’s Economic Landscape](/media/k2/items/cache/6ec7606f1e0e8afb4c9ad2df340a6331_S.jpg)
“We can’t wait to be saved; Africans need to solve Africa’s problems. This $300 million commitment reflects this reality’’ – Aig-Imoukhuede
Kigali, Rwanda - May 16, 2024: The Aig-Imoukhuede Foundation and Access Bank Group have pledged $300 million in charitable commitments over the next 20 years. Access Bank has committed $200 million and Aig-Imoukhuede Foundation committed $100 million. This will fund African government initiatives with a proven potential to transform national economic performance.
Speaking about the commitment, Aigboje Aig-Imoukhuede, Chairman, Access Holdings and Co-Founder, Aig-Imoukhuede Foundation, said, “We can’t wait to be saved, Africans need to solve Africa’s problems. This $300 million commitment reflects this reality.”
Appropriately, this announcement was made at the Africa CEO Forum 2024 in Kigali, Rwanda, where the theme of this year’s event is ‘At the table or on the menu?’. At the event, CEOs from across the continent joined to discuss how Africa can demand a seat at the global table, rather than continuing to wait to be invited.
The fund will see the creation of an African-led Super NGO in partnership with academics, experts and philanthropists across the globe who are committed to closing the gap between Africa and the rest of the world. The NGO will work with African governments to provide the funding, governance and talent required to successfully execute game changing government reform programs, especially in the delivery of digital public infrastructure.
The development comes at a time when Ajay Banga, President of the World Bank, has warned wealthy countries that it would be short-sighted to “ignore” Africa. This landmark Africa-led initiative could not have been better timed.
“We African leaders cannot sit back and watch the 4th Industrial Revolution transform the rest of the world while leaving Africa falling further behind. We have to create our own ‘table’ by using technology to unlock the power of our youth, giving Africa a greater voice in the world. It’s today’s leaders who will determine whether or not we grab this opportunity,” Aigboje Aig-Imoukhuede continued.
The availability of digital public infrastructure is a proven and cost-effective way for developing nations to break free of the status quo. It provides citizens with access to the same public goods and services available to citizens of advanced nations. The India Stack has become a shining example of what can be achieved when visionary public and private sector leaders partner for development.
The Access Bank and Aig-Imoukhuede Foundation inspired NGO will make such partnerships a reality and delivering measurable improvements to the lives of Africans across the continent.
###
Notes to Editor:
For media inquiries, please contact:
- This email address is being protected from spambots. You need JavaScript enabled to view it. or +234 808 5716 788
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ABOUT THE AIG-IMOUKHUEDE FOUNDATION
The Aig-Imoukhuede Foundation is a public sector-focused philanthropic organisation founded by Aigboje and Ofovwe Aig-Imoukhuede to improve the lives of Africans through transformed public service delivery and increased access to quality primary healthcare. The Aig-Imoukhuede Foundation accomplishes its mission by supporting the reform initiatives of public sector entities, providing financing, technical support, and capacity-building programmes and resources for the public sector workforce. The Foundation also provides funding and strategic support to drive the work of affiliate organisations such as Africa Business Coalition for Health (ABC Health), the Private Sector Health Alliance of Nigeria (PSHAN), the Nigerian Solidarity Support Fund (NSSF) and others.
For more information, please visit www.aigimoukhuedefoundation.org.
ABOUT ACCESS BANK
Access Bank, a wholly owned subsidiary of Access Holdings Plc, is a leading full-service commercial bank operating through a network of more than 700 branches and service outlets spanning 3 continents, 21 countries and over 60 million customers. The Bank employs over 28,000 thousand people in its operations in Africa and Europe, with representative offices in China, Lebanon, India, and the UAE.
Access Bank’s parent company, Access Holdings Plc, has been listed on the Nigerian Stock Exchange since 1998. The Bank is a diversified financial institution which combines a strong retail customer franchise and digital platform with deep corporate banking expertise, proven risk management and capital management capabilities. The Bank services its various markets through three key business segments: Corporate and Investment Banking, Commercial Banking, and Retail Banking. The Bank has enjoyed what is arguably Africa’s most successful banking growth trajectory in the last 18 years, becoming one of the continent’s largest retail banks.
As part of its continued growth strategy, Access Bank is focused on mainstreaming sustainable business practices into its operations. The Bank strives to deliver sustainable economic growth that is profitable, environmentally responsible, and socially relevant, helping customers to access more and achieve their dreams.
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In line with the theme for the 2024 celebration of Africa Day, “Educate an African Fit for the 21st Century: Building Resilient Education Systems for Increased Access to Inclusive, Lifelong, Quality, and Relevant Learning in Africa”, Access Holdings is celebrating the positives across the continent. This year's theme is a poignant reminder of Africa's diversity and the need to address the educational challenges faced across the continent.
Africa is a vast and complex continent of over 1.2 billion people speaking more than 3,000 languages across 54 countries. Despite shared challenges, each nation contributes uniquely to the continent's rich cultural and historical mosaic. Unfortunately, education remains a significant hurdle. According to UNESCO and the African Union, over a quarter of school-age children in Africa were out of school in 2023, and 90% of children were unable to read or write by age ten. This stark reality underscores the need for urgent educational reforms to equip future generations.
In alignment with this educational drive, Access Holdings will once again host the Access Bank/UNICEF Charity Shield Polo Tournament starting from the Children’s Day Anniversary on May 27, 2024, in Kaduna. This event, which will culminate at the Fifth Chukker Polo & Country Club on June 9, will bring together over 150 school pupils and their teachers for a day filled with sports, art activities, and messages promoting child welfare, such as “Stop Child Abuse” and “Childhood Isn’t Meant to Be a Nightmare.” As the largest charity polo tournament in Africa, this event highlights Access Bank's commitment to supporting underprivileged children, having donated over N700 million towards building schools and providing social amenities for surrounding communities in the past seven years.
Beyond education, there are numerous aspects of African heritage and achievements that deserve celebration:
- Angola: Known for its vast oil reserves, Angola is also home to the ancient Tchitundo-Huluvilo Caves, a significant cultural landmark showcasing, prehistoric art.
- Botswana: Celebrated for its stable democracy established by Sir Seretse Khama, Botswana is also renowned for producing world-class athletes like Amantle Montsho, a former world champion sprinter.
- Cameroon: Home to the towering Mount Cameroon and the legendary musician Manu Dibango, Cameroon has made significant contributions to global music and boasts rich natural beauty.
- Democratic Republic of Congo (DRC): Known for its rich copper reserves and the majestic Congo River, the DRC is also the birthplace of Patrice Lumumba, a pivotal figure in Africa's fight for independence.
- Gambia: Famous for its beautiful beaches and vibrant culture, Gambia is also making strides in education and tourism, becoming a notable destination in West Africa.
- Ghana: A beacon of democracy and economic growth in West Africa, Ghana is also celebrated for its rich history, including the Ashanti Kingdom and significant cultural festivals.
- Guinea: With its rich mineral resources, particularly bauxite, Guinea is also known for its vibrant music and dance traditions that play a crucial role in cultural identity.
- Kenya: Renowned for its breathtaking landscapes and wildlife, Kenya is a leader in environmental conservation and home to world-renowned long-distance runners.
- Mozambique: Known for its stunning coastline and rich cultural heritage, Mozambique is also recognised for its vibrant arts scene, including music and dance.
- Nigeria: Africa's most populous nation, Nigeria is celebrated for its diverse cultures, Nollywood film industry, and significant contributions to literature and music, including figures like Chinua Achebe and Fela Kuti. Nigeria is also home to Dangote Petroleum Refinery, the continent’s largest petroleum refinery.
- Rwanda: A symbol of resilience and progress, Rwanda has made remarkable strides in economic development and technological innovation, becoming a model for other African nations.
- Sierra Leone: Known for its rich history and natural beauty, Sierra Leone is also making progress in education and healthcare, contributing to a brighter future for its citizens.
- South Africa: Famous for its stunning landscapes and diverse cultures, South Africa is a global leader in mining and a symbol of freedom and reconciliation, epitomised by Nelson Mandela.
- Zambia: Renowned for its spectacular Victoria Falls, Zambia is also making significant strides in economic development and conservation efforts.
Access Holdings is proud to operate in these African nations contributing uniquely to the continent's narrative, from historical landmarks to modern achievements in various fields.
As we continue to consolidate the discourse around the 2024 Africa Day theme, the Group calls on Africans to unite, invest in our incredible human resource even as we work to take our rightful place on the table of deliberations of global significance.
Gunfire was on Monday night reported around the mini palace where the deposed Emir of Kano, Aminu Ado Bayero, is staying in Nasarawa GRA of the state capital.
The palace is located about 300 metres to the Kano Government House where movement of vehicles is restricted to one portion of the road leading to Tarauni.
The emir’s palace, which has been witnessing a buzz of activities, is under survellance by a combined security team.
On Sunday, armed hunters at the main Emir’s palace where the reinstated Emir Lamido Sanusi is staying, tried to attack some protesters calling on Kano governor to obey a court order restraing it from removing Mr Ado-Bayero.
The hunters relented because of the presence of the security agents at the palace.
Some residents and passerby suspected that the gunshots were fired to discourage any attempt to arrest Mr Ado-Bayero after a state High court ordered his eviction from the palace on Monday.
A resident of the area told PREMIUM TIMES some commuters diverted their route in fear that the palace was under attack.
“Have you heard what is happening at the Aminu Ado Bayero palace? My wife just called me now that there is heavy gunfire at the Emir’s palace and they don’t know what’s going on there. The gunfire has been coming from the direction of the palace,” a resident of the area asked PREMIUM TIMES.
“People heading to Ahmadu Bello Way are said to be changing their routes but we don’t know what is actually happening,” the resident said.
It was not immediately clear whether the gunshots were from security agents or palace guards.
Both the Kano State police commissioner, Muhammad Gumel, and the command’s spokesperson, Haruna Kiyawa, could not be reached on phone to comment on the incident.
The development followed a court order by the Kano State High Court ordered to evict the dethroned Emir Mr Ado Bayero, from his palace.
The state high court on Monday ordered Mr Ado-Bayero and his four colleagues in Bichi, Rano, Gaya and Karaye Emirates to stop parading themselves as emirs.
The court issued the interim injunction pending the hearing and determination of the motion on notice filed by the Kano State Attorney General and Commissioner for Justice, the Speaker, Kano State House of Assembly, and the Kano State House of Assembly.
[Premium Times]
The move to review the Central Bank of Nigeria Act 2007 by the National Assembly may erode the powers of the apex bank, water down its policies, and endanger the country’s economy, analysts polled by BusinessDay have said.
They noted that though the excercise will act as checks and balances to the CBN, it may send negative signals to investors, adding that having an independent central bank remains the accepted practice across all major world economies.
Muda Yusuf, an economist and chief executive officer of the Centre for the Promotion of Private Enterprise stated that the amendment Act will pose a great risk to the independence of the central bank.
“The CBN deserves its autonomy to shield it from undue interference from its activities. Too much interference will affect the quality of the economic policies emerging from the CBN as well as its personnel,” Yusuf said.
He explained that the independence enjoyed by the central bank is part of the reasons why investors are confident in positioning their businesses in the country, stressing that the problem is not really about the law but those that would be appointed to occupy certain positions upon amending it.
Citing the gross violations of the Act under the former governor of the CBN, Godwin Emefiele, the CPPE boss said if the laws are not rightly amended, the apex bank could easily be compromised.
“Whether the law is from the National Assembly or the Judiciary, once the CBN is compromised, a lot of things will go wrong,” he said.
Adeola Adenikinju, a professor of Economics and the President of the Nigeria Economic Society (NES) said the amendment of the 2007 Act will potentially erode the CBN’s independence, which could be detrimental to the nation’s economy.
“I have no doubt that the review of the CBN Act 2007 by the National Assembly will weaken the independence of the central bank,” he said.
“The central bank won’t be able to play effective monetary policies roles, even investors who contribute to the economy want to ensure that the central bank has the autonomy to make certain monetary decisions,” he added.
The University of Ibadan don said while the review is aimed at promoting transparency within the country’s apex bank, it will create more harm than good.
Adenikinju stressed that the conversation should bother around the total implementation of the 2007 Act rather than reviewing it.
The bill, sponsored by Tokunbo Abiru, a Lagos Senator and co-sponsored by all 41 members of the Senate Committee on Banking, Insurance and Other Financial Institutions is expected to make certain changes in the organizational structure of the Abuja-based bank.
Key aspects of the legislation the lawmakers are seeking to amend include the establishment of a 7-member coordinating committee for monetary and fiscal policies to be chaired by the minister of finance.
The tenure of the CBN governor and deputy governors upon the review will be set at a single non-renewal term of six years .
Also, it will see to the appointment of a minimum of one career staff of the bank in the committee of governors and appointment of at least one female among the external directors.
In addition, the bill is seeking to establish the position of chief compliance officer in the rank of a deputy governor, who reports directly to the board and may occasionally be summoned to appear before the relevant committee of the National Assembly.
Furthermore, the bill proposes that the CBN governor appears on a semi-annual basis whilst the National Assembly in the exercise of its constitutional duties should reserve the power to invite the governor to make presentations from time to time as need arises.
It also proposes publishing a monetary policy report and an interim financial report every six months, where the governor fails to make a report to the president and the National Assembly as required by law, he should be served with a warning letter by the National Assembly.
And if the failure persists, by a recommendation from the National Assembly, the governor will be suspended from office by the President, among others.
“Reviewing the CBN Act of 2007 could lead to potential changes in the central bank’s mandate, governance structure, monetary policy tools, and regulatory framework,” a source familiar with the matter said.
“The amendment could put too much political interference in economic matters. This could impact the economy, financial stability, and the central bank’s independence,” the source added.
“While some of the proposed amendments to the CBN Act are commendable as they were designed to entrench the culture of compliance, strengthen corporate governance, and reposition the bank for improved performance in attaining its mandate, some others could erode the bank’s autonomy and weaken the independence of monetary policy, at variance with international best practices,” a university professor who doesn’t want to be mentioned said.
[BusinessDay]
Two motorcyclists, on Monday, lost their lives during an exchange of gunfire with policemen who prevented an attack on the Ipaja Division of the Lagos State Police Command.
PUNCH Metro gathered that the policemen embarked on the enforcement of the existing ban on motorcycle operations in the state when the motorcyclists revolted against the action.
During the protest to express their grievances against the enforcement, the state Police Public Relations Officer, Benjamin Hundeyin, said in a statement he posted on his verified handle on X.com that the motorcyclists attempted to overrun the police station.
He explained that during the exchange of gunfire between the policemen and the protesting motorcyclists, two motorcycle operators were killed.
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Hundeyin wrote, “Officers of the Ipaja Police Division have successfully repelled an early morning attack on their division by motorcycle operators.
“The attack came after police officers commenced the day’s enforcement of the existing ban on motorcycles in Lagos State. The attackers, who came in their hundreds, stormed the station with dangerous weapons, shooting at the officers and attempting to overrun the station.
“While officers and men of the division held their ground, reinforcement came from the Area Command and the Rapid Response Squad. Two of the attackers were fatally injured during the attack.”
He added that no fewer than 200 motorcyclists were impounded and some suspects arrested during the incident.
Hundeyin said, “This did not deter the officers from accomplishing their mandate as over 200 motorcycles were impounded and some of the attackers arrested, with one locally made firearm retrieved.
“The Lagos State Police Command will not be cowed into abdicating its responsibilities of enforcement of all duly passed laws and maintenance of law and order within the society.”
Our correspondent, during a follow-up conversation with Hundeyin to ascertain the number of the arrested motorcyclists linked to the attempt to overrun the police station, affirmed that the arrested suspects were 22.
“Twenty-two suspects were arrested during the incident,” the PPRO told our correspondent.
PUNCH Metro gathered that during the exchange of gunfire in the area, there was panic and residents and business owners scampered to safety to escape being hurt during the incident.
In December 2023, PUNCH Metro reported that a middle-aged woman, Mrs Bisi Raji, was crushed to death when police officers clashed with commercial motorcyclists in the Abule Egba area of the state.
Mrs Raji was returning from the hospital after an appointment with her doctor around the area.
A resident who spoke to PUNCH Metro said, “The tipper ran over the woman on the head. People who were around the area could not do anything because she died instantly.
They had to get a cloth to cover her body. Her corpse was also on the roadside for hours and there was no one to recover it until the police arrived much later to retrieve the body from the spot. We learnt her family had collected her body from the police and taken her home for burial.