Minimum wage: Labour rules out strike action on Tuesday, awaits Tinubu’s nod

Minimum wage: Labour rules out strike on Tuesday, awaits Tinubu’s nod

The Nigeria Labour Congress has ruled out strike action scheduled for tomorrow, Tuesday, to demand a new national minimum wage.

The NLC President, Joe Ajaero, made this known on Monday during the ongoing International Labour Conference taking place in Geneva, Switzerland.

According to the Guardian, Ajaero said organised labour cannot embark on strike tomorrow because the figures presented by the Tritiparte committee on minimum wage are with President Bola Tinubu.

He clarified that the submission of N62,000 as proposed by the government and the organized employers’ body with labour proposing

N250,000 does not translate to labour accepting N62,000 as the new minimum wage.

He said: “The tripartite committee submitted two figures to the President. Government and employers proposed N62,000 while labour

proposed N250,00o. We are waiting for the decision of the President.

Our National Executive Council (NEC) will deliberate on the

new figure when it is out.

“We cannot declare strike now because the figures are with the President. We will wait for the President’s decision.

During the tenure of the immediate past President, the figure that was proposed to him was N27,000 by the tripartite committee but he

increased it to N30,000. We are hopeful that this President will do the right thing. The President had noted that the difference between N62,000 and N250,000 is a wide gulf.”

The NLC president also berated state governors under the umbrella body of the Nigerian Governors’ Forum for rejecting the

N62,000 minimum wage proposal.

He said, “How can any governor say he cannot pay? They cannot also be calling for the decentralization of the minimum wage.

Are there wages decentralized? Governors whose states are not contributing a dime to the national purse and who generate pitiable Internally Generated Revenue (IGR) are collecting the same amount as governors whose states are generating billions of dollars into the FAAC.

“They should decentralize their salaries and emoluments first.

So, where is the governor of Edo state, Godwin Obaseki getting his money from? He is paying N70,000 minimum wage. This is the type of governor that should be emulated and not the lazy ones.”

CBN has no intention to revoke the licenses of Wema, Polaris, Unity, and Fidelity banks.

The Acting Director of Corporate Communications

at the Central Bank of Nigeria (CBN), Mrs. Hakama Sidi Ali, clarified in Abuja today that rumors about the CBN planning to revoke the licenses of certain banks were false. She highlighted that a circular issued by the CBN on January 10, 2024, announcing the dissolution of the Boards of Union, Keystone, and Polaris Banks, was being misrepresented as being issued on June 10, 2024, by some unscrupulous individuals aiming to create panic.

Mrs. Sidi Ali assured the banking public about the safety of their deposits and the resilience of the banking system. She emphasized that the issues with Heritage Bank were isolated and dismissed claims of impending license revocations before the completion of the bank recapitalization exercise as baseless fabrications. Customers of Heritage Bank were also assured about the safety of their deposits, mentioning that the Nigeria Deposit Insurance Corporation (NDIC) had started paying out insured deposits.

Encouraging the public to continue their banking activities without worry, Mrs. Sidi Ali advised disregarding any false reports regarding the health of specific Deposit Money Banks. She affirmed that the CBN, through its strong regulatory framework, was actively working to ensure the stability of Nigeria's financial system and protect depositors' funds in all Nigerian financial institutions.

In line with Governor Olayemi Cardoso's reassurances, Mrs. Sidi Ali reiterated that the bank recapitalization initiative in Nigeria aimed to strengthen the banking system and safeguard it from risks. She called for cooperation from all stakeholders to support the process, emphasizing its importance for the overall growth of the Nigerian economy.

AKwa Ibom State GOVERNOR, Pastor Umo Eno has relieved Dr Bassey P. Okon from the State Executive Council with the Immediate effect

The Southern Pos

1min read

According to the press release, in is effort to reposition the administration, in line with the Arise Agenda Governor of Akwa Ibom State, His Excellency Pastor Umo Eno has relieved Dr Bassey P. Okon, the Honorable Commissioner for Special Duties as Commissioner from the State Executive Council with immediate effect.