Author: Akintayo Adams

The Academic Staff Union of Universities (ASUU) has joined the ongoing strike by the Organized Labour. This was contained in a statement issued by Emmanuel Osodeke, the association’s President and addressed to the branch chairpersons and zonal coordinators of ASUU on Monday. “The NLC has declared an indefinite strike action beginning from Monday, 3rd June 2024, as a result of the failure of Government to conclude the renegotiation of minimum wage for Nigerian workers and reversal of hike in electricity tariff,” the statement read. “Our branches are hereby enjoined to join in the strike action as an affiliate member of…

The Central Bank of Nigeria has voided the banking licence of Heritage Bank Plc. The decision is effective immediately, according to the Apex Bank. This was contained in a statement by Sidi Ali, CBN’s Acting Director of Corporate Communication Department on Monday. The statement revealed that the decision was reached due to the bank’s inability to upgrade its financial performance, constituting a threat to financial stability. “The Central Bank of Nigeria (CBN), following its mandate to promote a sound financial system in Nigeria and exercise of its powers under Section 12 of the Banks and Other Financial Act (BOFIA) 2020,…

The Organized Labour have refused students of the Kaduna Polytechnic entry into their campus. This is part of the move to enforce total compliance with the ongoing indefinite strike exercise. The officials of the union allegedly stormed the Unguwan Rimi Campus of the Polytechnic and drove the students out of the school before locking the gate. Get instant and latest news updates via Our WhatsApp Community or Google News online channel.

Claudia Sheinbaum has been elected as the first woman president in Mexico’s 200-year history. The President National Electoral Institute spoke with state reporters and disclosed Sheinbaum had between 58.3% and 60.7% of the vote, according to a statistical sample. Opposition candidate Xóchitl Gálvez pulled between 26.6% and 28.6% of the vote and Jorge Álvarez Máynez garnered 9.9% and 10.8% of the vote. Sheinbaum’s Morena party was also projected to hold majorities in both chambers of Congress. Xaudia Sheinbaum, a climate scientist and former Mexico City mayor said that her two competitors had called her and conceded her victory. “I will…

Nigeria, through the Central Bank have cleared $831m out of the $850m owed to International Airlines. This was made known by the International Air Transport Association (IATA) on its website. “At its peak in June 2023, Nigeria’s blocked funds amounted to $850 million, significantly affecting airline operations and finances in the country. Carriers faced difficulties in repatriating revenues in US dollars, and the high volume of blocked funds led some airlines to reduce their operations and one carrier to temporarily cease operations to Nigeria, which severely impacted the country’s aviation industry,” it read. “However, as of April 2024, 98% of…

The Transmission Company of Nigeria (TCN) has blamed the Labour Unions for shutting down power grids across the nation. This was contained in a statement titled “GRID SHUT DOWN : LABOUR UNION DELIBERATELY SHUTS DOWN THE NATIONAL GRID” signed by Ndidi Mbah, GM, Public Affairs, and shared via the official X handle of the company. It was revealed that the events happened in the dark of the night across their stations in zones making up the country. “The Transmission Company of Nigeria hereby informs the general public that the Labour Union has shut down the national grid, resulting in black…

Wale Ẹdun, the Minister of Finance and Coordinating Minister of the Economy has disclosed what he feels serves as the reason for international companies fleeing the country. However, he said, the government is working on the economic and investment climate to attract more multinationals into Nigeria. He was a guest on Channels Television’s Sunday Politics programme. “One of the major drawbacks one of the major impediments for them (exiting multinationals) was they did not have a liquid foreign exchange market,” he said. “Now, we have a willing buyer, willing seller foreign exchange market. It is elevated, may be not at…

The Maritime Workers Union of Nigeria (MWUN) has revealed it will shut down ports, terminals and jetties across the federation. This is in compliance with the directive of the Organized Labour on embarking on an indefinite strike. The strike is due to commence on Monday, June 3 (Today) after the failure of the FG to meet the demands of the Labour Unions on minimum wage and electricity tariff hike. In a statement, Kennedy Ikemefuna, spokesman of MWUN made it known that the indefinite nationwide strike exercise will affect port operations. “The Maritime Workers Union of Nigeria has directed its members…

Wale Ẹdun, the Minister of Finance and Coordinating Minister of the Economy says the proposed minimum wage by the Labour Unions is not affordable. The organised labour is demanding ₦494,000 national minimum wage but the FG is offering ₦60,000. Edun disclosed this while appearing as a guest on Channels Television Sunday Politics. Edun noted that the worker deserves to be paid and negotiation is an integral part of democracy. “Given what is going on, he deserves a change and in fact by law, every five years, maybe we don’t have to wait till five years to set a new wage…

The meeting between the National Assembly leadership and the Organized Labour have ended in deadlock. The meeting was premised on stopping the planned indefinite strike by the Unions. However, a resolution was never near, and that means the strike announced by the Labour Unions would go on as planned on Monday, June 3. The outcome of the meeting was made known by Festus Osifo, Chairman of the Trade Union Congress (TUC). “The Senate President appealed to us to call off the strike. But we can’t sit here and call off the strike because we have others organs. We will take…