The Tripartite Committee on Minimum Wage has resumed talks over a new minimum wage for workers in the country.

The committee is meeting at NICON Luxury Hotel in Abuja.

DAILY POST reports that the Federal Government is represented by Wale Edun, the Minister of Finance; Atiku Bagudu, the Minister of Budget and National Planning; Nkeiruka Onyejeocha, the Minister of Labour; and representatives of the Secretary to the Government of the Federation, along with the Head of Service of the Federation.

Joe Ajaero, the President of the Nigeria Labour Congress, NLC, and Festus Osifo, the President of the Trade Union Congress, TUC, are leading the organized labour delegation.

Abdulateef Shittu, the Director General of the Nigeria Governors’ Forum, was present at the meeting even though none of the state governors was present at the time of filing this report.

DAILY POST reported that Labour suspended its nationwide indefinite strike on Tuesday after grounding the economy.

The Nigerian government has acknowledged that fuel subsidy expenditures are expected to surge to ₦5.4 trillion in 2024, according to a recent revelation by the Minister of Finance, Wale Edun.

This disclosure was made during the presentation of the Accelerated Stabilisation and Advancement Plan (ASAP) report, which outlines strategies to address critical challenges and stimulate growth across various sectors.

The projected subsidy cost for 2024 marks a significant increase from ₦3.6 trillion in 2023 and ₦2.0 trillion in 2022, highlighting a continuous upward trend in government spending on fuel subsidies.

This revelation comes amidst previous denials from the government regarding the complete deregulation of fuel prices.

The Minister of State for Petroleum Resources, Heineken Lokpobiri, reiterated during a ministerial briefing on the anniversary of President Bola Tinubu’s administration that fuel subsidies had been entirely eliminated.

“I can confirm to you that subsidy is gone; officially, there is no subsidy; I want to make it clear that there is no subsidy in the country today,” Lokpobiri stated.

These statements come after significant policy shifts last year when President Tinubu declared the end of the fuel subsidy, leading to a hike in pump prices from ₦250 per litre to over ₦500. Prices have continued to climb, reaching an average of ₦702 per litre as of April 2024.

The persistence of fuel subsidies and the floating of the Naira have had a profound impact on the economy, contributing to soaring inflation rates. As of April 2024, Nigeria’s headline and food inflation rates had escalated to 33.69 percent and 40.53 percent, respectively.

Italian Serie A former champions, Napoli, have confirmed the appointment of former Juventus and Chelsea manager, Antonio Conte, as their new manager.
Antonio Conte has been without a coaching job since he left Tottenham Hotspur in the middle of the 2022-2023 season, the same season in which Napoli won the Serie A title for the first time in 33 years.

Unfortunately for Napoli, they completely collapsed in the 2023-2024 campaign, a season they couldn’t win any title and didn’t even qualify for European club football.

Despite the unpleasant state of Napoli which could lose Super Eagles of Nigeria striker, Victor Osimhen, to another club this summer, Antonio Conte decided to take the challenge.

After signing his contract with Napoli, the 54-year-old Italian tactician who has won the Serie A title three times in a row with Juventus and once with Inter Milan, said he is committed to the growth of Napoli.

“Napoli is a place of global importance. I am happy and excited at the idea of ​​sitting on the blue bench,” Conte said.

“I can certainly promise one thing, I will do my utmost for the growth of the team and the club. My commitment, together with that of my staff, will be total.”

Antonio Conte is expected to do better than Slovakian coach Francesco Calzona, and Walter Mazzarri who were in charge of Napoli in separate periods last season.

Sean ‘Diddy’ Combs, the US rapper, has sold his entire stake in Revolt, the media company he co-founded in 2013.

Revolt confirmed the complete buy-out in a statement on Tuesday. The media company revealed that Combs’ shares have been “redeemed and retired”. The sale price, however, remains undisclosed.

Detavio Samuels, Revolt’s CEO, told the New York Times that discussions about Diddy’s separation began in January after multiple sexual assault lawsuits were filed against him.

He said before the lawsuits, Combs had minimal interaction with the company.

Samuels revealed that the “staff were shaken by the cascade of news surrounding the company’s founder”, adding that they have completely “separated from Combs”.

“He is no longer chairman. He is no longer on the board. He has no shares, no equity in Revolt. We have completely separated and dissociated from each other,” he said.

Revolt also announced a new ownership structure that will give its employees an equity stake.

The separation follows months of controversy surrounding Combs.

In November 2023, Cassie, his ex-girlfriend, accused him of rape, abuse, and human trafficking during their 10-year relationship. However, the lawsuit was settled shortly after.

Several other women have also filed lawsuits against Combs with similar allegations.

In May, a video surfaced showing Combs assaulting Cassie in 2016.

Diddy, who had denied Cassie’s claims, however, apologised. He said he was “truly sorry” and that his actions were “inexcusable”.

Bolaji Idowu, the lead pastor of Harvesters International Christian Centre, says it is very “shameful” for a man to marry a woman for “financial reasons”.

In a recent sermon to his congregation, the cleric wondered why a “grown” man’s success strategy would be to tie the knot with a “lady from a rich family”.

He also described having such a thought process as a “consumer mentality”, adding that such men “lack critical wisdom”.

“One of the most shameful things I have seen is when men try to marry women for money. How can you be a grown man and your dream in life for success, your life strategy for success is that I will find a rich girl from a rich family and I will marry her,” he said.

“Is it because you believe there is nothing in you that can produce? That is consumer mentality. How do you want to do marriage and in planning for your marital finances, you plan that people will give you money to do your marriage? Does it not show that you lack critical wisdom?”.

Idowu founded Harvesters church on December 13, 2003.

He is well known for publicly speaking out on religious and political matters.

The Federal High Court in Lagos has further adjourned the case against celebrity socialite Pascal Okechukwu, popularly known as Cubana Chief Priest, for allegedly abusing the Naira. The new court date is set for June 25th.

Cubana Chief Priest was arraigned by the Economic and Financial Crimes Commission (EFCC) on April 17th on three counts related to spraying and tampering with Naira notes at a social event held at the Eko Hotel in Lagos.

He pleaded not guilty to the charges and was granted bail for N10 million.

During the previous hearing on May 2nd, the defense counsel indicated that both parties were exploring the possibility of settling the case outside of court, following Section 14(2) of the EFCC Act. As a result, a preliminary objection filed by the defense was withdrawn.

The court then scheduled today, June 5th, for a progress report on the settlement discussions.

However, on Wednesday, it came to light that the defense had requested an adjournment. The court has now granted the request and rescheduled the case for June 25th.

The charges against Cubana Chief Priest allege that he tampered with N500 notes while dancing at the social event, which is a violation of Section 21(1) of the Central Bank Act of 2007.

Popular blogger, Linda Ikeji, has explained why her son, Jayce, will continue to bear her surname instead of that of his father.

Ikeji said it has always remained so right from the birth of the now six-year-old boy, adding that he is free to change the surname when he comes of age.

The blogger made this known on her Instagram handle Tuesday while extolling her kid’s cousin named Ryan Kanu whom she described as “the best little human ever!”.

“Jayce Ikeji and Ryan Kanu take Disney/Marvel Paris. Cousins, best friends, and literally growing up together as brothers. Their love for each other is incredible, and when they can help it, are inseparable!

First Year Of President Bola Tinubu's Administration: Ministers Give Account0:00 / 0:00

“Ryan is literally the best little human ever! They’ve been on a few vacations together in the past, but this is the first one they will remember as they are nearly 6 and 7 now,” she wrote.

Meanwhile, some netizens have vented their anger against her decision to keep her surname for the boy, saying that it is not African culture.

A user who identified herself as Foluke676 on Instagram said, “Which one is Jahce Ikeji again,na your papa you born for ni, Linda? (sic).

Another user on Instagram who wrote with dr_alwaysrozy said, “Why would you give your son your own father’s name, biko?

“It’s okay to f00lish but coming online to let the world know about your descending behaviour it’s something you really need to check with yourself, Madam bet me this pikin go find him papa one day !! I’m glad we all live in internet age where finding information is at the tip of your finger,” one Tozz162 wrote.

Houseofeveryevery opined, “Kuku change Ryan to ikeji as well.”

Reacting, Ikeji said, “Just to be clear. I’ve NEVER ever had to change my son’s surname. He’s been an Ikeji right from when he was born! Where do I have the time or patience to be changing name? Changing Or keeping his surname (Ikeji) will be up to him when of age Food for my junior colleagues.”

Ikeji gave birth to Ryan in an Atlanta hospital in Georgia, United States, in 2018. Although there were reports that an oil magnate, Sholaye Jeremi is the father of her son.

The blogger had also confirmed that the relationship between her and the oil mogul was over.

The Kaduna State House of Assembly established an ad hoc committee to review all funds, loans, and contracts given under previous governor Nasir El-Rufai, and presented its findings to the House.

The chairman of the ad hoc committee, Henry Zacharia, presented a report during plenary on Wednesday. The report found that most loans obtained under El-Rufai’s administration were not used for their intended purpose, and that due process was not followed in some cases.

Receiving the report, Yusuf Liman, Speaker of the Kaduna House of Assembly, stated that the El-Rufai government took a total of N423 billion, leaving the state with massive obligations.

As a result, the committee recommended that El-Rufai and other indicted members of his cabinet be investigated and prosecuted by security and anti-corruption agencies for abuse of office through the award of contracts without due process, diversion of public funds, money laundering, and plunging Kaduna State into deep debt.

The committee recommended suspending Kaduna State Commissioner of Finance Shizer Badda, who also served under El-Rufai’s government, and the head of the state universal basic education board.

It also called for a comprehensive inquiry of several key appointments of the previous government by competent law enforcement and anti-corruption authorities.

The committee set up by the Kaduna State House of Assembly was tasked with the assignment of examining loans, grants and projects implementation from 2015 to 2023 during which El-Rufai served as governor of the state.

Former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu has reacted to the recent revocation of the banking license of Heritage Bank by the Central Bank of Nigeria (CBN).

Moghalu described the development as the chronicle of a death foretold, adding that the situation was not surprising.

Moghalu shared his thoughts via a post on his X handle on Wednesday.

He insisted that that the defunct bank should not worry anyone, adding that it doesn’t mean the financial system isn’t sound.

Moghalu said: “The revocation of the banking license of Heritage Bank by @cenbank is the chronicle of a death foretold. In other words, it’s not surprising.

“I don’t think it should worry anyone, nor does it mean the financial system isn’t sound. Banks are businesses, even if very special and thus heavily regulated ones. A bank that is badly run should not have a lifetime guarantee. The important thing is to protect depositors funds.

“What we did in 2010 when we created @AmconNg was to ensure SYSTEMIC financial stability. We made sure no bank failed then to ensure systemic stability because of the unique situation of the global financial crisis. But over the long term, I never subscribed to a view that no bank, no matter how badly run, should ever fail. That would be a wrong approach to financial regulation.”