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Minimum Wage: Delay Caused By Disagreement – Presidency

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The Federal Government have reteirate that lack of an agreement on the National Minimum Wage has stalled the presentation of a bill to the National Assembly by President Muhammadu Buhari.

Findings showed that up to Friday, there was still no agreement on the proposed N30,000, a development further delaying the presentation of a bill to the legislature by the President.

“There is still no agreement. There has to be an understanding between all the parties before the bill can go successfully to the National Assembly.

“This is one of the setbacks as we speak. But, when things are sorted out, definitely, the bill will go to the National Assembly and the passage should be smooth,” a presidential source told one of our correspondents in Abuja.

Recall that on November 19, the President and representatives of state governors had met in Abuja in a bid to resolve the dispute.

It was gathered that the closed-door meeting, which took place at the Presidential Villa, made little progress as the majority of the governors reportedly insisted that they could not afford to pay anything above N22,500.

The Chairman of the Nigerian Governors’ Forum and Governor of Zamfara State, Mr Abdulazeez Yari, led a team of governors to the meeting to speak for the governors.

At the meeting, the governors were said to have stated that the options were for them to either reduce their workforce or the Federal Government would have to review the revenue sharing formula to make more money available to the states.

Organised labour has since opposed any move to reduce the number of workers and has maintained that workers would not accept any amount below N30,000.

The source further informed The PUNCH that in the light of the disagreement, a hasty presentation of a bill would not resolve the dispute until all the parties reached “a certain level of understanding first.”

The official explained, “You know that in the matter of a National Minimum Wage, there are lots of procedures it has to go through.

“For instance, it has to go through some institutions like the Salaries and Wages Commission; National Council of State or National Economic Council; then there are constitutional provisions to be met.

“Again, since the minimum wage is for the states to pay, there has to be an agreement with the states. It is only when there is an agreement with the states that the President can make a proposal to the National Assembly.”

He added, “At the stage we are, the question really is not whether the President is ready with the bill, the question is, has there been an agreement?”

When newsmen  sought the comments of the Senior Special Assistant to the President on National Assembly Matters (Senate), Senator Ita Enang, on the matter, he merely said at any time the bill was ready, the President would submit it to the National Assembly.

“When the bill comes, it will be read on the floor. That is what I know,” he replied.

When asked whether he was aware when it would be ready or there was a particular figure the President and the governors had agreed on, Enang responded, “I am not disposed to speak on a matter that I have not seen.”

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Access Bank Appoints Uche Orji as Independent Non-Executive Director

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Access Bank Appoints Uche Orji as Independent Non-Executive Director

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Access Holdings Plc (‘the Company’) is pleased to announce the appointment of Mr. Uche Orji as an Independent Non-Executive Director of its flagship subsidiary, Access Bank Plc (‘the Bank’), effective from January 7, 2025, following the approval of the Central Bank of Nigeria (‘CBN’).

This appointment reflects our commitment to enhancing our governance practices and ensuring a diverse and experienced board.

Mr. Orji is a renowned investment banking professional, information technology entrepreneur, and finance expert with three (3) decades of professional and board experience. He is the Co-founder and Partner of Titangate Capital Management, an equity firm that invests in deep-tech, enterprise software, semi-conductors, hardware, and artificial intelligence companies.

He is the Founder and Director of Vitesse Africa Limited, an investment advisory firm focused on African energy, technology and infrastructure sectors. He serves as an Executive Board member and investor in Ultrasafe AI, an artificial intelligence/IT development firm that maintains strategic collaborations with leading technology companies. He also sits on the Board of Private Infrastructure Development Group, London, and chairs the Risk Committee.

Previously, Mr. Orji served as the founding Managing Director and Chief Executive Officer of Nigeria Sovereign Investment Authority. He held positions as Managing Director and Senior Analyst at UBS Securities Limited New York and Managing Director and Head of European Technology/Semiconductor Equity Research at JP Morgan Securities, London. He also served as Executive Director/Portfolio Manager at Goldman Sachs Asset Management, London. Earlier in his career, he was Acting Financial Controller at Diamond Bank Limited and an Audit Trainee at Arthur Andersen & Co.

He holds a Bachelor of Engineering Degree in Chemical Engineering from the University of Port-Harcourt and a Master of Business Administration from Harvard Business School.

Commenting on the appointment, Mr. Paul Usoro, SAN, the Chairman of the Bank said:

“Mr. Orji has been appointed based on his exceptionally rich professional, academic, and corporate board experience which will be invaluable to the Bank as we continue to pursue our strategic objectives.

We are confident that his addition to the Board would further enrich the quality of our decision-making process, enabling us to deliver even greater value to our customers and stakeholders.

His appointment has been made in accordance with the Bank’s internal policies and has been notified to all relevant regulatory authorities underscoring our commitment to upholding the highest standards of corporate governance.

On behalf of the Board, Management and staff, I warmly welcome Mr. Orji to the Board and look forward to his contributions towards our goal of becoming one of the top 5 African Banks in the shortest possible time.”

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Go and List Your Challenges, Lagos Speaker tells NANS Member During Courtesy Visit

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Go and List Your Challenges, Lagos Speaker tells NANS Member During Courtesy Visit

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The National Association of Nigerian Students (NANS), Lagos State University (LASU) branch, on Friday paid a courtesy visit on the Speaker of the Lagos State House of Assembly, Princess Mojisola Lasbat Meranda.

The student representatives said the visit was to congratulate Meranda over her emergence as Speaker of the State Assembly.

Meranda, an alumnus of LASU, was elected Speaker on January 13 after the removal of Mudashiru Obasa by the lawmakers over issues relating to alleged high-handedness and financial impropriety.

Describing her as a thoroughbred Lagosian, the chairman of NANS, Abdulraheem Azeez, used the opportunity to list some of the challenges faced by students in the university.

According to him, students have had to read in darkness as the Ikeja campus gets less than two hours of power supply daily.

Azeez also raised the need for the State to make available loans for indigent students as well as for the Assembly to provide opportunities for students to witness the plenary of the House.

Meranda, while thanking the students for the visit, urged them to always attend town-hall meetings in their constituencies where they can contribute and make their opinions known.

She further encouraged them to apply for the loans initiated by the government as done by students in other countries.

The Speaker requested the students to formally send their complaints in written forms to the House for action.

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EFCC Tasks Corps Members on Corruption

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AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

EFCC Tasks Corps Members on Corruption

The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede charge members of the National Youth Service Corps, NYSC, to be change agents and strong resisting force against corruption.

He also enjoined them to be active foot soldiers and whistle-blowers or intelligence-gatherers against corruption.

Speaking on Thursday, January 30, 2025 at the NYSC Orientation Camp, Yikpata, Edu Local Government Area of Kwara State, Olukoyede said It is important for youths to realise that, these roles, if performed creditably, will bring up appreciable growth in the economy of our nation. He said that, “creative energies of youths will be maximised when corruption is brought to its knees.”

The EFCC boss whose address was delivered by the Head, Public Affairs Department, Ilorin Zonal Directorate of the EFCC, Ayodele Babatunde said that most of the problem confronting the country such as kidnapping, banditry, poor infrastructure, among others were connected to corruption. He added that all hands must be on the deck to tame the cankerworm.

Olukoyede encouraged the youths to embrace the virtues of hard work and shun fraudulent practices such as cybercrime noting that, “it’s profitable to earn dignity and fame through hard work and legit business.”

While calling on the youths to channel their potentials productively and shun crime, the EFCC Chair said that, “Yahoo-Yahoo is not a sustainable way of life.”

“There is no shortcut to wealth and fame. The fact that the rate of unemployment is high should not be an excuse to resort to crime. Act of criminality might deliver wealth in the short term but there will be misery and gnashing of teeth”, he said.

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