April Sees Naira’s Depreciation of N112 Against Dollar in Forex Market
Business

April Sees Naira’s Depreciation of N112 Against Dollar in Forex Market

Within the forex market in April 2024, the Naira experienced a decrease of N112.38 against the US dollar. According to data from FMDQ, the Naira was trading at N1,390.96 per dollar on Tuesday, April 30th, compared to N1,278.58 per dollar at the month's onset. This indicates a 10% devaluation against the dollar during the reviewed period. Despite the Naira's impressive 12% appreciation against the dollar in the first 12 days of April, following a significant 14% rise in March, the currency ultimately experienced a setback in the latter half of the month. Subsequently, Goldman Sachs labeled the Naira as the top performing currency. However, the losses incurred in the latter part of April resulted in a decline on a month-to-month basis. Meanwhile, Olayemi Cardoso, the governor of the Cen...
Labour Issues Ultimatum to Nigerian Government: Implement Minimum Wage by End of May or Face Unrest
News

Labour Issues Ultimatum to Nigerian Government: Implement Minimum Wage by End of May or Face Unrest

With the deadline set for the end of May, the Organised Labour has clearly communicated its expectation for the Federal Government to complete the process of implementing the new national minimum wage for workers. During the 2024 edition of the International Workers Day in Abuja, the President of the Nigeria Labour Congress (NLC), Mr Joe Ajaero, emphasized the need for swift action. Centered around the theme 'Ensuring Safety and Health at Work in a Changing Climate', this year's celebration served as a platform to press for timely wage adjustments. In a strong statement, Ajaero warned of potential unrest if the negotiations were not concluded by the end of May, pointing out that the ongoing discussions have been intense. Emphasizing the importance of reaching a resolutio...
Record Broken in Champions League as Luka Modric Surpasses Puskas
Sports

Record Broken in Champions League as Luka Modric Surpasses Puskas

After a 2-2 draw in his team's semi-final first leg against Bayern Munich, Luka Modric of Real Madrid surpassed a notable Champions League record previously held by the club's former player, Ferenc Puskas. The match took place on Tuesday, marking Modric's achievement. At 38 years and 234 days, Modric became the oldest player to feature in a Champions League match while playing for Real Madrid. Puskas previously held the record, having participated in the European Cup for Madrid in 1965 against Kilmarnock at the age of 38 years and 229 days. Entering the game as a substitute in the 75th minute at the Allianz Arena, the Croatia international swapped places with England midfielder Jude Bellingham. Throughout his career, Modric has amassed 528 appearances for Real Madrid across various co...
The Assistant Controller of Corrections in Niger State regains freedom after abduction
News

The Assistant Controller of Corrections in Niger State regains freedom after abduction

After being abducted by unknown gunmen, the Assistant Controller of Corrections in Niger State Correctional Centre Minna, ACC Abdulrahman Ibrahim Gegele, has been released. ACC Abdulrahman was taken on April 17, 2024, along the Ilorin-Minna road. According to a statement by the correctional center's Public Relations Officer, CSC Rabiu Mohammed Shuaibu, Abdulrahman was freed on Wednesday morning in Minna. He managed to escape the kidnappers' captivity after nearly two weeks when the military confronted the bandits in a gun battle at their camp in a forest near Kontagora on Sunday, April 28, 2024. The family had been demanded a ransom of N25m by the kidnappers shortly after the abduction. The Controller of Corrections for Niger State Command, Alhaji Mohammed Hamisu, expressed gratitude t...
The Concern of Kano NLC Regarding the Unremitted Contributory Pensions Amounting to N75bn
News

The Concern of Kano NLC Regarding the Unremitted Contributory Pensions Amounting to N75bn

Kano's Nigeria Labour Congress (NLC) is calling on Governor Abba Yusuf to assist in the recovery of unremitted contributory pension funds totaling more than N75 billion from various ministries, parastatals, and agencies in the state. The State NLC Chairman, Kabiru Inuwa, expressed this concern during the May Day parade, highlighting the alarming backlog of unremitted pension contributions by certain entities. He emphasized that the non-remittance of these funds poses a significant threat to the financial security of retirees, leading to deductions and non-payment of full pension. Kabiru Inuwa commended the current administration for initiating full pension payments but urged defaulting government institutions to start clearing the backlog to ensure retirement and death benefits a...
The Announcement of N40,000 Minimum Wage for Cross River Civil Servants by Governor Bassey Otu
News

The Announcement of N40,000 Minimum Wage for Cross River Civil Servants by Governor Bassey Otu

During the Workers' Day celebration at the U.J Esuene Stadium in Calabar, Governor Bassey Otu of Cross River State revealed a new minimum wage of N40,000 for the state's workers. In emphasizing the importance of prioritizing salary payments, worker's wages, and pension entitlements as a first-line charge in his administration, Governor Otu stated that the implementation of the new wage reflects the current realities in the state rather than mere sentiments. He addressed the financial challenges faced by Cross River State due to low Statutory Federal Allocation and an unfavorable State GDP to Debt servicing ratio, highlighting the necessity of aligning the wage structure with the prevailing circumstances. Regarding the backlog of gratuity payments dating back to 2014, the governor urge...
Daughter of Bazoum accuses Ex-President Issoufou of orchestrating her father’s ousting
News

Daughter of Bazoum accuses Ex-President Issoufou of orchestrating her father’s ousting

Allegations have been made by Hinder, the daughter of former Nigerien President Mohamed Bazoum, claiming that her father's predecessor, Mahamadou Issoufou, played a significant role in the military takeover that removed him from power nine months ago. Following the seizure of power by army officers on July 26, Bazoum and his wife have been detained at the presidential palace in Niamey. Bazoum, who succeeded President Issoufou in Niger's first-ever peaceful transition since independence, was elected two years prior to the coup. During an interview with the BBC, monitored by NewsNow, Hinder Bazoum voiced her concerns, revealing that the Bazoum family has had no information about their parents' well-being for the past six months. "The most difficult realization to come to terms with was d...
Shaibu Challenges Ighodalo: Edo Election Criteria
Politics

Shaibu Challenges Ighodalo: Edo Election Criteria

Residents of Edo State are being urged by former Deputy Governor, Philip Shaibu, not to support a governorship candidate who relies on interpreters to communicate with the people. Shaibu emphasizes the importance of voting for a local candidate to become the next governor of the state. During a gathering at Irrua, the administrative headquarters of the Esan Central Local Government Area, he expressed his views. He strongly believes that a candidate needing an interpreter cannot be considered a local candidate as they are unable to speak the Edo dialect. Shaibu reiterated, "Today, we have chosen a familiar face to become the next Edo State governor. It's evident that someone born in Lagos but claiming Edo heritage isn't a true local." He questioned, "Can we truly call someone with an ...
‘Dilly Umeniyora Claims Runtown Left His Label with a $1.5 Million Debt’
Entertainment

‘Dilly Umeniyora Claims Runtown Left His Label with a $1.5 Million Debt’

During a recent interview with media personality Daddy Freeze, the CEO of Eric Many Entertainment, Dilly Umeniyora, revealed that Runtown, his former signee, owed him approximately $1.5 million when he departed from the record label. Umeniyora expressed his belief that his current artist, Gnewzy, surpasses Runtown in talent, stating, “My new artiste Gnewzy is incredibly talented. I am confident that I will see a return on my investment in him as long as he remains healthy. He is a better artist than Runtown." Reflecting on his decision to sign Runtown, Umeniyora shared, “I signed Runtown because of my strong music instincts. I was patient with him, and after five years, he gained recognition. Gnewzy, on the other hand, will achieve success in less than a year and a half." In 2014, Runt...
Ondo: PDP accuses Aiyedatiwa of plan to use N50bn daycare funds for election
Politics

Ondo: PDP accuses Aiyedatiwa of plan to use N50bn daycare funds for election

PDP in Ondo State Accuses Aiyedatiwa of Misusing N50bn Daycare Funds for Election Governor Lucky Aiyedatiwa of Ondo State is under fire from the Peoples Democratic Party (PDP) for allocating a whopping N5 billion for the refurbishment and procurement of daycare facilities in the state. The opposition party alleges that there is a hidden agenda behind the substantial budget earmarked for this project, claiming that the ruling party is scheming to gather funds for the upcoming governorship election. In a statement released by the Publicity Secretary, Kennedy Peretei, the PDP maintains that those responsible for the alleged misappropriation must be identified and held accountable. "What is disconcerting is how such a budget, which underwent multiple levels of scrutiny before being pres...