The Central Bank of Nigeria (CBN) has laid off nearly 200 employees in a bank-wide restructuring exercise affecting various departments. The job cuts, announced on Friday, impacted employees in Human Resources, Development Finance, Trade and Exchange, Financial Policy and Regulation, and Procurement and Support Services. Among those laid off was prominent director Dr. Hassan Mahmud. The affected employees were reportedly taken by surprise, receiving termination letters on Friday afternoon, effective immediately. The CBN attributed the layoffs to a “significant organisational and human capital restructuring process” aligned with the bank’s newly publicised strategic direction and mission. A sample termination letter obtained…
Author: Editor Francis
On Friday, May 24, the Minister of Power, Adebayo Adelabu, announced that the current electricity tariffs will be reduced over time. Speaking during the presentation of his ministerial scorecard in Abuja, Adelabu acknowledged that while tariffs seem high now, they will eventually decrease, similar to how telecoms and handset prices dropped after their introduction to Nigeria. “It might look expensive at the moment, but I am optimistic that these tariffs will go down. We know how much we were buying SIM cards when telecoms first came. We know how much we were buying the telephone sets but gradually as it…
The Federal Competition and Consumer Protection Commission (FCCPC) has launched an investigation into the sharp increases in food prices in Bauchi State. This move follows a market survey conducted at Muda Lawal Market on Friday, May 24. Adamu Abdullahi, the commission’s vice chairman, highlighted findings indicating that the food distribution sector, including wholesalers and retailers, is allegedly involved in conspiracy, price gouging, hoarding, and other unfair practices. Abdullahi condemned these actions, noting their contribution to the rising cost of living. Represented by FCCPC’s North East Zone coordinator, Dauda Waja Ahmadu, Abdullahi stated, “Our surveillance efforts suggest that participants in the…
The Minister of Works, David Umahi, has revealed plans for the demolition of 750 houses situated along the Lagos-Calabar Coast Highway. Speaking at a stakeholders’ meeting in Lagos, Umahi clarified that the demolitions align with the gazetted route, aiming to make room for the extensive infrastructure project. Umahi’s announcement was met with discontent from affected landlords who voiced concerns over the inadequacy of government compensation, asserting that it failed to reflect their investments in the properties earmarked for demolition. In an effort to address the growing discontent, Umahi disclosed that President Bola Tinubu had been invited to inaugurate the project…
The Federal Government has announced a major step towards local production of military equipment following the recent signing of the Defence Industries Corporation of Nigeria Bill by President Bola Tinubu. Minister of Defence Muhammad Badaru revealed that the government has been in discussions with approximately 50 local and international firms to initiate the domestic production of firearms, with 13 companies already commencing or on the verge of starting production in Nigeria. Speaking at the Ministerial Sectorial Update in Abuja on Thursday, Badaru highlighted the significant progress made in the fight against terrorism over the past year under President Tinubu’s administration.…
In a significant turn of events, Governor Abba Yusuf has officially reinstated Muhammadu Sanusi II as the 16th Emir of Kano. The appointment letter was presented during a mini-durbar ceremony at the Africa House in the Kano State Government House on Friday, May 24. This development follows a recent Federal High Court injunction in Kano that attempted to halt the reinstatement process. Despite the legal challenge, Governor Yusuf proceeded with the reinstatement after signing the Kano State Emirates Councils (Repeal) Bill 2024. Muhammadu Sanusi II, previously deposed as the 14th Emir of Kano, returns to the throne after a…
Presidents Joseph R. Biden, Jr. of the United States and William S. Ruto of Kenya have reaffirmed their nations’ commitment to a deepening partnership as they mark the 60th anniversary of diplomatic relations. The statement, issued from the White House on May 23, 2024, underscores the evolution of the U.S.-Kenya relationship from regional to global cooperation. The leaders emphasized their shared values of democracy, prosperity, and security, highlighting Africa’s potential for historic opportunities. Kenya was lauded for its leadership in clean energy, digital transformation, and its role as a regional anchor for health, security, and democracy initiatives. Several…
The eagerly anticipated 2024 Yoruba National Day celebration is set to take place at the prestigious International Conference Centre, University of Ibadan, Ibadan, Oyo State. Organised by the Grand Council of Yoruba Youths, the event will commemorate the 85th birthday of esteemed elder statesman and actor, Chief Lere Paimo, popularly known as Eda Onileola. A significant highlight of the celebration will be a thought-provoking lecture titled “National Unity and Agitation for Self-Determination: The way forward for Nigeria?” to be delivered by the dynamic Lagos State Governor, Babajide Sanwo-Olu. In recognition of outstanding contributions to society, the prestigious Ori Olokun Odu’a…
His Highness, Muhammadu Sanusi II, the 14th Emir of Kano, addressed the pressing issue of unemployment among first class graduates, attributing it to a lack of essential skills rather than academic achievements. Speaking at the Rivers Economic and Investment Summit in Port Harcourt, Emir Sanusi emphasised the critical role of human capital in driving economic development. He underscored the need for robust education and skills training programmes to equip youths with the necessary tools for the job market. During discussions with Governor Siminalayi Fubara of Rivers State, Emir Sanusi highlighted the plight of numerous first class graduates who struggle to…
The Katsina State Police Command has apprehended a four-man gang notorious for swapping Point-of-Sale (POS) machines to defraud unsuspecting victims. During a press briefing at the Command headquarters on Thursday, the Command’s Public Relations Officer, ASP Abubakar Aliyu Sadiq, presented the suspects, who were arrested on May 12, 2024, following a public tip-off. The suspects, identified as Abdulhakeem Haruna (20), Habibu Kabir (28), Aminu Abubakar (27), and Abubakar Bishir (25), all residents of Katsina, are accused of defrauding five business owners of N4.763 million. According to ASP Sadiq, the gang’s modus operandi involved swapping the victims’ POS machines with identical-looking…
The Academic Staff Union of Universities (ASUU) in the Kano zone has urged the Nigerian Federal Government to fulfill the agreements and memoranda previously established with the union. This appeal was made by the Zonal Coordinator, Abdulqadir Muhammad, during a news briefing held after a zonal meeting that included representatives from the seven universities in the zone. The primary issues highlighted by ASUU include: 1. Renegotiation of the 2009 Agreement: The union emphasises the need to renegotiate the Federal Government-ASUU 2009 agreement to address current challenges and improve the state of public universities. 2. Funding for University Revitalization: ASUU calls…
On Thursday, the Senate constituted an ad hoc committee to investigate the staggering number of abandoned projects across Nigeria. This decision followed the adoption of a motion presented by Senator Jimoh Ibrahim (APC-Ondo), highlighting the urgent need to address the issue of 11,856 megaprojects abandoned by the federal government. Senator Ibrahim pointed out that in 2011, former President Goodluck Jonathan had established a Presidential Committee to identify abandoned projects across the country. The committee’s findings revealed that 11,866 projects had been left incomplete since Nigeria’s independence, with a shocking 63 percent of all projects abandoned. Ibrahim emphasised the economic implications…