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Aremu Tasks CBN, NLC on Dialogue Over Cash Scarcity Strike

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By Adedapo Adesanya

The Director-General of the Michael Imoudu National Institute of Labour Studies (MINILS), Ilorin, Kwara State, Mr Issa Aremu, has advised the Central Bank of Nigeria (CBN) to engage the Nigeria Labour Congress (NLC) in a social dialogue to avert the planned strike over the continued cash scarcity.

Mr Aremu made the call on Thursday in Ilorin on the sidelines of the Interfaith Prayer organised to mark the 40th anniversary of the institute.

Recall that Business Post earlier this week reported that the president of the NLC, Mr Joe Ajaero, directed affiliate unions of the group to be on standby for a picketing exercise across all branches of the CBN nationwide.

The directive, according to the trade unionist, became imperative following the expiration of a one-week ultimatum given to the apex bank to make cash available for Nigerians.

Speaking on the development, the MINILS head said it was unprecedented that the labour union is threatening to picket the CBN, tasking the apex bank to use every means at its disposal to ensure monetary stability in the country.

The DG, who was once a labour leader, noted that depositors had been subjected to a lot of hardship in recent times over the CBN financial policy.

Mr Aremu said that CBN must be more transparent and engaging and look at the overall policy’s impact on the growth and development of the nation’s economy.

He said that this would ensure the confidence of Nigerians in the banking system.

Mr Aremu explained that such a cashless policy should be gradually introduced after the appropriate infrastructure had been put in place.

“It also requires mass sensitisation and awareness, and there is a limited time for implementation of the policy for Nigerians,” he said.

The institute’s head lauded the CBN’s Anchor Borrowers Programme, saying it “provides loans (in kind and cash) to smallholder farmers, which had boosted agricultural production, especially rice”.

He, therefore, insisted that picketing of the apex bank by labour leaders was avoidable and preventable, advising CBN to address all concerns by organised labour.

On the 40th anniversary of the institute, Mr Aremu said, “This gathering is all about appreciation to Almighty God in the Holy Month of Ramadan, in which Catholic lent also runs. Both Christianity and Islam stress gratitude. Gratitude pleases Allah, while ingratitude displeases Him.”

“Glory to Almighty for sparing our lives to continue the institutional building that started with President Shehu Shagari’s formal inauguration in 1983,” he said.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Tinubu Leaves Nigeria Monday for Türkiye on State Visit

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By Aduragbemi Omiyale

On Monday, January 26, 2026, President Bola Tinubu will leave Abuja for Türkiye for a state visit aimed at “strengthening the existing cordial relations between the two countries and exploring further areas of cooperation in security, education, social development, innovation, and aviation.”

This is according to a statement issued on Sunday by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga.

The president’s spokesman disclosed that the visit is to reciprocate an official two-day visit of Turkish President, Mr Recep Tayyip Erdogan, to Nigeria on October 19, 2021.

Mr Tinubu, according to the statement, will be going to European nation along with other senior government officials, including the Minister of Foreign Affairs, Mr Yusuf Tuggar; the Attorney General of the Federation and Minister of Justice, Mr Lateef Fagbemi (SAN); the Minister of Defence, Mr Christopher Musa; and the chairman of the House Committee on Defence, Mr Jimi Benson.

Others on the entourage of the president are the Minister of Women Affairs and Social Development, Ms Imaan Suleiman-Ibrahim; the Minister of Interior, Mr Olubunmi Tunji-Ojo; the Minister of Culture and Creative Economy, Ms Hannatu Musawa; the National Security Adviser (NSA), Mr Nuhu Ribadu; and the Director-General of the National Intelligence Agency (NIA), Mr Mohammed Mohammed.

During the visit, both countries will engage in strategic political and diplomatic discussions on shared values in finance, communication, trade and investment.

The agenda will include meetings between high-ranking officials of both nations and the signing of memoranda of understanding (MoUs) in scientific research, energy, technical cooperation, media and communications, military cooperation and protocol, among others.

A business forum will bring together investors from both countries to explore areas of interest during the visit, with Mr Tinubu expected to return to Nigeria afterwards.

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Lagos, NGX Group, HEI Expand Project BLOOM to Alimosho

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By Aduragbemi Omiyale

Over 120 malnourished children in Alimosho Local Government Area of Lagos State have been given nutritional support, medical screening, and caregiver education.

This was made possible through an initiative known as the Project BLOOM (Bringing Life to Our Overlooked Minors) put together by the Nigerian Exchange (NGX) Group Plc in partnership with the Lagos State government and the Health Emergency Initiative (HEI).

NGX Group staff volunteers worked alongside Lagos State health workers and HEI facilitators during the outreach, assisting with screenings and data recording. Structured follow-up visits are scheduled after four weeks to monitor recovery and provide extended care where necessary.

The Alimosho programme was the third under the initiative. The beneficiaries were hosted at the Lagos State Health District I.

Earlier, the initiative benefitted residents of Yaba and Ajegunle. Over 320 children and 300 caregivers were reached, with monitoring data showing that more than 50 per cent of beneficiaries in the first two phases entered recovery.

The chief executive of NGX Group, Mr Temi Popoola, linked the initiative to broader economic resilience, saying, “Sustainable capital markets are built on strong social foundations. The recovery rates we see with Project BLOOM prove that targeted, collaborative action between the public sector, civil society, and the private sector can deliver tangible impact.”

Also, the Executive Director of HEI, Achunine Pascal, said child malnutrition remains a major contributor to under-five mortality in Nigeria, adding that Project BLOOM is designed to go beyond immediate food support through structured follow-up and continued care.

On his part, the chairman of Alimosho Local Government Area, Mr Akinpelu Ibrahim Johnson, said the initiative supports the council’s long-term strategy for improving child nutrition through early detection, prevention, and effective management of malnutrition.

Representing the Permanent Secretary, Lagos State Health District I, Dr. Solomon Adeyanju commended NGX Group for its commitment to child health, describing Project BLOOM as a valuable complement to the state’s primary healthcare efforts.

With additional outreaches planned, the partners reaffirmed their commitment to reducing preventable child mortality while strengthening the social foundations required for sustainable economic growth.

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SERAP Sues Adelabu, NBET Over Alleged Missing N128bn

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By Adedapo Adesanya

The Socio-Economic Rights and Accountability Project (SERAP) has dragged the Minister of Power, Mr Adebayo Adelabu, and the Nigerian Bulk Electricity Trading (NBET) Plc before a Federal High Court in Abuja over their failure to account for an alleged missing N128 billion public funds.

The group in a statement on Sunday by its Deputy Director, Mr Kolawole Oluwadare, said the suit, marked FHC/ABJ/CS/143/2026, was filed last Friday following allegations contained in the Auditor-General of the Federation’s report published on September 9, 2025.

In the lawsuit, SERAP is seeking an order of mandamus compelling Mr Adelabu and NBET to account for what it described as “the missing or diverted N128bn from the Ministry of Power and NBET.”

The organisation is also asking the court to direct the defendants to disclose “details of how the missing or diverted N128bn was spent, including the dates of disbursement and the purported beneficiaries or contractors who received the money.”

SERAP further urged the court to compel the disclosure of “the full names, official designations and offices of all public officers who authorised, approved or otherwise participated in the release of the missing or diverted N128bn.”

According to the group, Nigerians have continued to suffer the consequences of corruption in the electricity sector, particularly amid recurring grid collapses and erratic power supply.

“Nigerians continue to pay the price for the widespread and grand corruption in the power sector,” the group said, adding that “there is a legitimate public interest in ensuring justice and accountability for these grave allegations,” arguing that granting the reliefs sought would help tackle systemic failures in the sector.

“Granting the reliefs sought would contribute to tackling corruption in the power sector and addressing the persistent breakdown of transmission lines in the country, as well as improving access of Nigerians to regular and uninterrupted electricity supply,” it stated.

The group further warned that corruption has deepened hardship for electricity consumers, noting that “ordinary Nigerians continue to pay the price for corruption in the electricity sector—staying in darkness, but still made to pay crazy electricity bills.”

The suit, filed by SERAP’s lawyers, Mr Kolawole Oluwadare, Ms Kehinde Oyewumi and Mr Andrew Nwankwo, relied heavily on findings from the Auditor-General’s 2022 audited report, which detailed multiple alleged financial irregularities involving the Ministry of Power and NBET.

The organisation stressed that public institutions are legally bound to ensure transparency, accountability, and the abolition of corrupt practices.

No date has been fixed for the hearing of the suit.

Business Post had reported earlier that Mr Adelabu claimed that the missing money happened prior to his appointment as the minister of power.

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