NLC, TUC Suspend Wednesday’s Nationwide Strike

By Adedapo Adesanya The federal government has declared Monday, October 2, 2023, a public holiday to celebrate Nigeria’s 63rd Independence Day, which falls on Sunday, October 1. The Minister of Interior, Mr Olubunmi Tunji-Ojo, made this known in a statement signed by the ministry’s Permanent Secretary, Mrs Oluwatoyin Akinlade, in Abuja on Thursday. Mr Olubunmi acknowledged the global socio-economic hardship, noting that Nigeria is not excluded. He, however, reasserted the government’s commitment to tackling the issues facing the country to reassure Nigerians. “It is today a known fact that difficult Socio-Economic and Security challenges are global, and Nigeria is not

By Aduragbemi Omiyale The proposed nationwide indefinite strike threatened by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) scheduled for Tuesday, October 3, 2023, has been suspended. The organised labour unions put industrial action on hold for 30 days to allow the federal government to implement some of the agreements reached at a last-minute meeting on Monday. While addressing newsmen in Abuja after the meeting on Monday night, the President of the NLC, Mr Joe Ajaero, said the government has agreed to suspend the collection of Value Added Tax (VAT) on diesel for six months from this

By Bliss Okperan The early morning fire that gutted a part of the Supreme Court complex in Abuja has been blamed on an electrical malfunction. The Director of Information of the apex court, Mr Festus Akande, said this on Monday morning when he appeared on Arise Television’s breakfast programme, The Morning Show. According to him, preliminary investigation showed that the fire was triggered by an electrical fault, playing down rumours that the Supreme Court was attacked by arsonists. Attention is on the apex court over the outcome of the presidential election held on Saturday, February 15, 2023. The Appeal Court

By Dipo Olowookere A total of 40 equities appreciated in price during last week on the floor of the Nigerian Stock Exchange (NSE), higher than 15 equities in the previous week. During the week also, 25 equities depreciated in price, lower than 34 equities in the previous week, while 101 equities remained unchanged, lower than 119 equities recorded in the preceding week. It was observed that Ecobank topped the gainers’ chart, appreciating by 33.33 percent in the week to settle at N8 per share after opening for the week at N6 each. Second on the log was Oando, which rose

By Dipo Olowookere The Central Bank of Nigeria (CBN) has explained the reason it came up with a new foreign exchange (FX) policy on diaspora remittances. On Saturday, the apex bank, under the leadership of Mr Godwin Emefiele, announced a new forex promo tagged CBN Naira 4 Dollar Scheme, an incentive for senders and recipients of International Money Transfers. The campaign, which will last for two months from March 8 to May 8, 2021, will enable “all recipients of diaspora remittances through CBN licensed IMTOs [to] be paid N5 for every $1 received as remittances inflow.” After the circular was

By Modupe Gbadeyanka A homegrown maternity fashion brand, Fabulous Bump NG, has released a new publication called the Pregnancy Affirmations Journal. The Fabulous Bump NG was established in 2018 out of the need to see more pregnant women and nursing mums slay whilst their buns cook in the oven and even after delivery. According to the founder of the brand, Ms Adetoun Jegede, the newest baby, Pregnancy Affirmations Journal, a 40-week power-packed journal, will assist readers with almost everything about pregnancy. She said the book is armed with carefully curated words of encouragement and insight to help mums-to-be to stay

By Modupe Gbadeyanka Governor Rotimi Akeredolu of Ondo State has presented the 2017 budget of the state to the Ondo State House of Assembly. In the budget proposal, Mr Akeredolu plans to spend about N170 billion in the 2017 fiscal year. According to the Governor, he plans to spend N95 billion for recurrent expenditure and N58 billion for capital expenditure. The precise amount proposed for approval is N169.7 billion. The 2017 budget was sent to the state lawmakers with a cover letter signed by Secretary to the State Government (SSG), Mr Ifedayo Abegunde. Speaker of the House, Mr David Oleyeloogun,

By Ahmed Rahma The federal government has approved the implementation of new measures to tackle the second wave of coronavirus disease in Nigeria. These measures were approved by President Muhammadu Buhari, the Chairman of the Presidential Task Force on COVID-19, Mr Boss Mustapha, disclosed at a press briefing held in Abuja on Monday. Mr Mustapha stated that parts of these measures include the reduction of guests at weddings, conferences and sporting facilities to 50. “The PTF has surveyed developments and actions taken by governments around the world, assessed our domestic environment and has accordingly submitted its recommendations to Mr President on

By Modupe Gbadeyanka Minister of Transportation, Mr Rotimi Amaechi, has once again reiterated that government’s efforts are at advance stage to facilitate the establishment of a National Carrier that would be spear headed by the private sector. He noted that when established, it will address the current multiple challenges facing the Shipping industry and it will check capital flight, create more employment opportunities for our teeming youth as well as providing opportunity for Sea time training of graduate Cadets. Mr Amaechi stated this at the 2016 World Maritime Day Celebration in a keynote address he delivered on the theme: “Shipping,

By Investors Hub European stocks are turned lower over the course of the session on Thursday after moving to the upside earlier in the day. While the German DAX Index has slumped by 1.1 percent, the U.K.?s FTSE 100 Index is down by 0.4 percent and the French CAC 40 Index is down by 0.3 percent. German software group Software AG has rallied after appointing Sanjay Brahmawar as its new CEO. Volkswagen has also moved higher after the automaker said it would stop testing its products on animals. Nokia has jumped as it reported better than expected quarterly profits on

By Adedapo Adesanya  The unlisted securities market in Nigeria closed flat on Friday December 6, 2019, with the two major market pointers remaining at their previous levels. Business Post reports that the NASD Unlisted Securities Index (NSI) stood static at 692.24 points, while the market capitalization remained unchanged at N497.33 billion. Despite this development, the total volume of shares transacted on the floor of the NASD Over-the-Counter (OTC) Securities Exchange increased by 26.6 percent to 101,900 units from 80,507 units. In the same vein, the total value of the trades improved during the day by 85.3 percent as securities worth