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Reps Seek ‘Bailout Out’ for Access Bank, Others to Prevent Mass Sacking

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House of Reps

By Dipo Olowookere

The House of Representatives is considering ways the federal government can support big organisations in the country like Access Bank to pay their workers in order to prevent a mass sacking.

Some days ago, a video went viral showing the Group Managing Director of Access Bank Plc, Mr Herbert Wigwe, saying that the lender will possibly cut down its contract staff by 70 percent, while those to remain will likely suffer a 40 percent slash in their salaries, including himself.

Nigerians reacted to the issue and the Central Bank of Nigeria (CBN), with Bankers’ Committee, prevailed on the financial institution and others in the banking industry to put such plans aside.

At the plenary on Tuesday, the House of Reps debated the matter and said urgent steps must be taken to avert a massive job loss in the country.

The lower parliament described Access Bank as an institution “too big to fail” because of “its position as a significant employer of labour.”

The lawmakers said if Access Bank is allowed to “lay off 23,990 employees [on its payroll] ,” which it said “may be the biggest lay-offs by any Nigerian employer”, it will have an impact that will be “catastrophic especially when followed by other banks.”

“Such business decisions will cause more stress and shocks across economy which is already struggling with low oil prices.

“A secondary effect of such an action will be that it will affect the purchasing power of significant segments of the population which will certainly impact negatively on our macro-economy,” the lower legislative chamber of the National Assembly said.

The Reps stressed that to avert this looming crisis, steps must be taken quickly by the federal government to support big employers of labour like Access Bank through economic packages in terms of “income support, tax credits or tax deferrals, short-term work schemes, wage subsidies and tax moratoriums on loan payments.”

In view of this, the lawmakers resolved to “set up an ad-hoc committee to investigate, monitor and liaise with corporate institutions with a view to possible interventions to reduce the wage burden on such organisations.

The House also mandated the Committees on Banking and Currency, Labour, Employment and Productivity and Public Accounts to look into the Access Bank situation and report back to within two weeks for further legislative action.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Nigerian Bottling Company Bridges Education, Employability Gap

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Nigerian Bottling Company UNILAG

By Modupe Gbadeyanka

The Nigerian Bottling Company (NBC) has reaffirmed its determination to bridge the gap between education and employability in the country by sustaining its flagship Youth Empowered (YE) programme.

This initiative provides hands-on learning, real-world insights, and access to career-shaping opportunities to young Nigerians.

The 2026 edition of the scheme commenced on February 2 at the University of Lagos (UNILAG), with participants mainly young people between the ages of 16 and 35.

A statement from the organisation said this year’s rollout will expand to more tertiary institutions, including the Federal University of Technology, Akure (FUTA). This follows a successful 2025 tour that reached seven cities across the country, including Makurdi, Jos, Benin, Kaduna, Asaba, Akure, and Port Harcourt.

Participants in the 2026 programme will receive training across key modules designed to support personal, professional, and business growth, including Business Life Skills, Adaptability and Resilience, Financial Literacy, Customer Service and Communication, Sales and Negotiation Skills, and Workplace Ethics.

The sessions will also feature breakout workshops on Business Planning, Project Management, and Time Management, alongside the Director’s Grant Pitch Competition, where participants can pitch their ideas for a chance to win business funding.

In addition to skills development, NBC’s People and Culture team will be present throughout the programme to identify outstanding talent for future opportunities within the organisation, further strengthening the connection between learning, employment, and long-term career growth.

One of the participants at the UNILAG training, Waliat Adedogun, who received a cash grant through the Director’s Grant Pitch Competition to support her small business, said: “Youth Empowered gave me more than training; it gave me clarity and confidence. Winning the grant means I can finally take my business idea from a dream into something real. I now feel prepared to build, grow, and create opportunities not just for myself, but for others too.”

Since its launch in 2017, the scheme has impacted more than 70,000 young Nigerians, equipping participants with practical skills, confidence, and exposure needed to succeed in today’s dynamic workplace and entrepreneurial landscape.

This year’s programme is being delivered in collaboration with Fate Foundation as the implementing partner, with funding support from The Coca-Cola HBC Foundation.

Last year, 10 beneficiaries were selected for six-month paid internships across NBC locations in Lagos, Ibadan, Asejire, and Challawa, gaining direct industry exposure.

Additionally, three outstanding participants received sponsorship for an all-expenses-paid intensive culinary training programme and were awarded N1 million each to support the launch of their businesses.

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INEC Fixes February 20 for 2027 Presidential, NASS Elections

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Incorruptible INEC Chairman

By Modupe Gbadeyanka

The 2027 presidential and National Assembly elections will take place on Saturday, February 20, the Independent National Electoral Commission (INEC) has revealed.

In a notice for the 2027 general polls issued on Friday, the electoral umpire also disclosed that the governorship and state assembly elections for next year would be on Saturday, March 6.

Speaking at a news briefing in Abuja today, the chairman of INEC, Mr Joash Amupitan, expressed the readiness of the commission to conduct the polls next year, which is 12 months away.

The timetable issued by the organisation for the polls comes when the federal parliament has yet to transmit the amended electoral bill to President Bola Tinubu for assent.

This week, the Senate passed the electoral bill, reducing the notice of elections from 360 days to 180 days, while the transmission of results was mandated with a proviso.

Recall that on February 4, INEC said it was ready to go ahead with preparations for the elections despite the delay in the passage of the amended electoral law of 2022.

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NGIC Pipeline Network to Experience 4-Day Gas Supply Shortage

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NGIC Pipeline Network

By Modupe Gbadeyanka

The pipeline network of the NNPC Gas Infrastructure Company Limited (NGIC) will witness a temporary reduction in gas supply for four days.

This information was revealed by the Chief Corporate Communications Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mr Andy Odeh, in a statement on Thursday night.

A key supplier of gas into the NGIC pipeline network is Seplat Energy Plc, a joint venture partner of the state-owned oil agency.

It was disclosed that the facility would undergo routine maintenance from Thursday. February 12 to Sunday, February 15, 2026.

The NNPC stated that, “This planned activity forms part of standard industry safety and asset integrity protocols designed to ensure the continued reliability, efficiency, and safe operation of critical gas infrastructure.”

“Periodic maintenance of this nature is essential to sustain optimal system performance, strengthen operational resilience, and minimise the risk of unplanned outages,” it added.

“During the four-day maintenance period, there will be a temporary reduction in gas supply into the NGIC pipeline network. As a result, some power generation companies reliant on this supply may experience reduced gas availability, which could modestly impact electricity generation levels within the timeframe.

“NNPC Ltd and Seplat Energy are working closely to ensure that the maintenance is executed safely and completed as scheduled. In parallel, NNPC Gas Marketing Limited (NGML) is engaging alternative gas suppliers to mitigate anticipated supply gaps and maintain stability across the network,” the statement further said.

“Upon completion of the maintenance exercise, full gas supply into the NGIC system is expected to resume promptly, enabling affected power generation companies to return to normal operations,” it concluded.

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