The Nigeria Union of Teachers (NUT), has frowned at the N27, 000 minimum wage approved for Nigerian workers by the National Council of State. The union was also not comfortable with the Federal Government’s decision to pay its workers N30, 000 as minimum wage. The News Agency of Nigeria (NAN), recalls that the National Council […]
As many as 20,000 women and girls are feared to have been trafficked from Nigeria to Mali where they are stranded after being forced into prostitution, the head of Nigeria’s anti-trafficking agency said on Tuesday. Julie Okah-Donli, director general of the National Agency for the Prohibition of Trafficking in Persons (NAPTIP), said a fact-finding team […]
The monetary policy committee of the Central Bank of Nigeria (CBN) has warned that the federal government’s debt levels could be fast approaching the pre-2005 levels. Reading the communique of the committee’s decision at the end of its bi-monthly meeting on Tuesday, Godwin Emefiele, the CBN governor, said: “On external borrowing, the committee noted the […]
Labour unions in Nigeria have rejected the N27, 000 new National Minimum Wage adopted by the National Council of State on Tuesday. The National Council of State pegged the national minimum wage at N27,000 for states and the private sector. The council also pegged N30, 000 as the minimum wage for federal workers. The council’s […]
Nigeria on Tuesday declared a Lassa Fever outbreak in the country. This followed the increase in the number of Lassa fever cases reported in states since the beginning of the year, the Nigeria Centre for Disease Control said. This is coming on the heels of the Lassa Fever International Conference held in Abuja to mark […]
Nigeria’s “bad bank” is to seek new investors to take over nationalised lender Polaris after elections next month and is taking stock of the bank’s assets ahead of a sale, a spokesman for the bad bank said on Tuesday. “The election season has slowed down things,” Jude Nwauzor, spokesman for Asset Management Corporation of Nigeria […]
South Africa’s MTN has paid $53 million to settle a money transfer dispute with Nigeria’s central bank and the matter has been withdrawn from court, Governor Godwin Emefiele said on Tuesday. The central bank had ordered MTN and its lenders to bring back a total of $8.1 billion it alleged the company had illegally repatriated […]
Nigeria’s central bank held its benchmark interest rate at 14 percent, its governor said on Tuesday, following the first meeting of its monetary policy committee this year. Most analysts polled by Reuters expect rates to be kept on hold until at least the middle of the year. Reuters Pix: CBN Headquarters, Abuja
Nigeria is to send a bill recommending a national minimum monthly wage of 27,000 naira ($88.15) to lawmakers in the national assembly, labour minister Chris Ngige said on Tuesday. Disagreements over the minimum wage saw labour unions striking across Nigeria in September. Labour unions want the minimum wage to be raised from 18,000 naira and […]
Allowing Nigeria’s naira to float would cause a currency crisis, the country’s central bank governor said on Tuesday, after the main opposition candidate in next month’s presidential election proposed a free float. Godwin Emefiele made the comments shortly after announcing that the bank’s monetary policy committee had left its benchmark interest rate at 14 percent […]