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CBN REVOKES HERITAGE BANK’S LICENCED The Central Bank of Nigeria (CBN), on Monday revoked the licence of Heritage Bank Plc with immediate effect. 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,The CBN said this …

ENUGU STATE SECRETARIAT PADLOCKED AS LABOUR ENFORCES STRIKE To ensure total compliance with the ongoing nationwide strike in Enugu State, the Organized Labour in the state has sealed the state secretariat. The enforcement team led by the state chairman of the Nigeria Labour Congress (NLC), Comrade Fabian Nwigbo has been going around the state to ensure that workers comply with …

CONCERN AS FG BORROWS N20.1TRN UNDER TINUBU The Federal Government borrowed N20.1 trillion from domestic investors in the first year of President Tinubu’s administration, representing year-on-year YoY increase of 117 per cent from the previous year, prompting concerns over impact on the economy including likely additional pressure on inflation, increased debt service cost and higher borrowing cost from businesses. Analysts noted …

BREAKING: BLACKOUT AS NLC SHUTS DOWN NATIONAL GRID In compliance with the joint directive of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) to down tools on Monday over the new minimum wage, electricity workers have shut down the National Grid, resulting in nationwide blackout. This was disclosed by the Transmission Company of Nigeria (TCN) in a statement …

NEMESIS AS SHORT DISTANCE RUNNER, BY TUNDE OLUSUNLE When he flung Sanusi Lamido Sanusi, (SLS) out of the window of the Emir’s palace in Kano four years ago, Abdullahi Ganduje would have least imagined what is playing out today. Ganduje was the “Lord of the Manor” in Kano State, the all-powerful chief executive. Recall video clips of Ganduje allegedly stuffing …

REGIONALISM: WE WON’T BE PART OF WESTERN REGION – LAGOS INDIGENES INSIST Indigenes of Lagos State have vowed to reject a Bill seeking the return of Nigeria to regional government. Speaking under the aegis of De Renaissance Patriots Foundation, the Lagos Indigenes, in a statement by its Media Office, revealed that a proposed Bill seeking approval of the National Assembly …

NORTHERNERS REJECT PROPOSED REGIONAL GOVT, SAY TINUBU WANTS TO DISMANTLE THE NORTH Reactions have continued to trail the bill proposing a return to regional government in Nigeria which is alleged to be before the National Assembly and is expected to passed into law before October 1, 2024. Part of the draft bill circulating on social media, Nigeria is titled: “A …

MINIMUM WAGE: LABOUR’S DEMAND UNTENABLE – PRESIDENCY The Presidency has expressed concerns over the potential economic repercussions if the Organized Labour’s demand for a nearly ₦500,000 national minimum wage is met. Special Adviser to the President on Media and Publicity, Ajuri Ngelale, issued the warning during an appearance on TVC’s program “Politics on Sunday.” Ngelale emphasized that while President Bola …

LABOUR INSISTS ON PLANNED STRIKE AFTER MEETING WITH NATIONAL ASSEMBLY LEADERSHIP The Nigerian Labour Congress and the Trade Union Congress has insisted on its planned strike action after an emergency meeting with the leadership of the National Assembly. The leadership of the unions, however told the National Assembly that it would table its appeal before its members and report back. …