Nearly Four States Can Pay Workers’ Salaries—Bakare
By Ebitonye Akpodigha
Former Vice Presidential candidate to President Muhammadu Buhari in 2011, Mr Tunde Bakare, has disclosed that Nigeria needs restructuring to record any meaningful growth.
Mr Bakare, speaking at the 14th Anniversary Lecture of the Foursquare Gospel Church, Asokoro, said the present structure was not giving room for proper development.
He also said he was not sure up to four states in Nigeria can pay workers’ salaries, expressing shock that some were still agitating for more states to be created.
Mr Bakare further said it was regrettable that Nigerian leaders lacked the will and political courage to restructure the country.
“When General Yakubu Gowon created 12 states, we welcomed it and embraced it. From 12, we went to 18. From 18, I don’t even know where we are now. I see people agitating for more, yet we know we cannot sustain them.
“I don’t think we have up to four states that can pay salaries, but we want to have Permanent Secretaries, Commissioners and keep on doing the same thing and expecting a different result,” the Senior Pastor of Latter Rain Assembly said at the occasion.
Tinubu Travelled Abroad to Rest, Will Return Soon–Aide
By Modupe Gbadeyanka
The office of the president-elect has confirmed that Mr Bola Tinubu has jetted out of Nigeria for a rest in the United Kingdom and France ahead of his swearing-in ceremony slated for May 29, 2023.
An online platform on Wednesday reported that the winner of the February 25 presidential election travelled to Europe for urgent medical attention.
But in a statement issued by one of his aides, Mr Tunde Rahman, it was emphasized that the former Governor of Lagos State only left the country to have a rest in London and Paris before going to Saudi Arabia for lesser hajj.
It was disclosed that Mr Tinubu travelled out of Nigeria on Tuesday night via the Murtala Mohammed International Airport (MMIA) Ikeja Lagos.
“After a very exhaustive campaign and election season, President-elect, Asíwájú Bola Tinubu, has travelled abroad to rest and plan his transition programme ahead of May 29, 2023 inauguration.
“The President-elect left the Murtala Mohammed International Airport, Ikeja, for Europe on Tuesday night.
“The President-elect decided to take a break after the hectic campaign and election season to rest in Paris and London, preparatory to going to Saudi Arabia for Umrah (Lesser Hajj) and the Ramadan Fasting that begins Thursday.
“While away, the President-elect will also use the opportunity to plan his transition programme.
“He is expected back in the country soon.
“We enjoin the media to stop publishing rumours and unsubstantiated claims and to always seek clarifications from our office,” the statement said.
INEC Declares Labour Party’s Alex Otti Abia Governor-Elect
By Modupe Gbadeyanka
The candidate of the Labour Party in the governorship election in Abia State, Mr Alex Otti, has been declared as the winner of the exercise by the Independent National Electoral Commission (INEC).
The former banker polled a total of 175,467 votes to defeat his closest rival in the poll, Mr Okey Ahiwe of the Peoples Democratic Party (PDP), who garnered 88,529 votes.
The Abia State governorship election was earlier declared inconclusive by the electoral umpire due to issues arising from over-voting. The collation centre had to be moved to Abuja from Umuahia, the state capital.
The governor-elect, in a short post via his verified Twitter handle, reacted to the development by saying, “See what the Lord has done.”
Mr Otti left the banking industry a few years ago after serving as the managing director of the defunct Diamond Bank, which merged with Access Bank. He left his office in the bank to pursue his political ambition in 2015, but he failed until he succeeded in 2023.
Cash Scarcity: NLC Orders Workers to Embark on Strike
By Adedapo Adesanya
The Nigeria Labour Congress (NLC) has directed public sector workers in the country to embark on strike beginning from Wednesday, March 29, 2023.
President of the union, Mr Joe Ajaero, gave this directive at a media briefing at Labour House in Abuja on Wednesday, March 22.
He also directed affiliate unions of the NLC to be on standby for a picketing exercise across all branches of the Central Bank of Nigeria (CBN) nationwide.
The union leader said the directive became imperative following the expiration of a one-week ultimatum given to the apex bank to make cash available for Nigerians.
The scarcity has heightened with plans by the central bank to mop up the old Naira in circulation. The apex bank recently said it had removed N2.3 trillion from circulation between October 2022 and February 2023 while printing fewer new notes.
Business Post reported that between October last year and February 2023, the cash in circulation dropped to N982.09 billion from N3.29 trillion.
This is one of the factors that has extended the scarcity of the Naira and have also prolonged it into March.
Despite the Supreme Court judgement on March 3, 2023, that the old Naira remain legal until December 31, 2023, new notes have not reached many households with the old notes and new notes difficult to acquire.
With the cash in circulation dropping and the currency in commercial banks’ vaults or that of the CBN rising, Nigerians still find it difficult to access the money deposited in their accounts despite the ruling that the new and old notes should co-exist for 10 months.
Latest News on Business Post
- FAAC Allocation to FG, States, LGs in March Shrinks to N722.7bn March 23, 2023
- Local Stock Exchange Extends Growth by 0.06% Amid Weak Sentiment March 23, 2023
- FrieslandCampina Lifts NASD OTC Market by 0.07% at Midweek March 23, 2023
- Oil Prices Rise $1 as Greenback Drops on US Rate Hike March 23, 2023
- Naira Rebounds, Strengthens Against Dollar at FX Market Segments March 23, 2023
- Tinubu Travelled Abroad to Rest, Will Return Soon–Aide March 22, 2023
- Anxiety as The Voice Africa Hits Airwaves March 26 March 22, 2023
- INEC Declares Labour Party’s Alex Otti Abia Governor-Elect March 22, 2023
- Cash Scarcity: NLC Orders Workers to Embark on Strike March 22, 2023
- Davido Picks Classic Songs for Spotify Timeless Afro Playlist March 22, 2023