Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts

Sunday, April 2, 2017

[Must Read] Unpaid salaries: Osun workers resume suspended strike

The leadership of the Nigeria Labour Congress NLC, in Osun State has directed workers in the state to resume  the industrial action that was suspended on Monday evening. This is coming barely 24hours after it was suspended. The post Unpaid salaries: Osun workers resume suspended strike appeared first on Vanguard News.



Contention provided by vanguardngr.com
*Says Aregbesola deceived them; govt pleads for understanding
By Gbenga Olarinoye
Osogbo—The leadership of the Nigeria Labour Congress NLC, in Osun State has directed workers in the state to resume  the industrial action that was suspended on Monday evening. This is coming barely 24hours after it was suspended.
The workers had suspended their month-old strike after signing Memorandum of Understanding, detailing how they wanted their salaries to be paid, with the state government.
The state chairman of Nigeria Labour Congress, NLC, Jacob Adekomi, in a television announcement monitored in Osogbo, last night, said workers should not resume as earlier directed. 
Hours after civil servants in Osun State suspended the strike over non-payment of salaries, they accused the government of allegedly deceiving them to resume duties.
It was gathered that workers on grade level 1-7 in secondary schools and the civil service got full payment of their January salaries, while the senior officers got half salaries.
Also, primary and secondary schools’ pensioners were paid 50% of their pensions for months of January and November respectively.
Addressing the newsmen on the development, Adekomi, said the workers rejected the  half salaries  because it was in breach  of the agreement reached by both parties.
He said NLC suspended the strike because it believed government would honour the agreement in the MoU the two parties signed.
But in a reaction, the ruling All Progressives Party, APC’s Director of Publicity, Research and Strategy, Mr Kunle Oyatomi said government’s initial stand was to pay the two months arrears fully as agreed with the labour leaders before the strike was suspended, “but there was a shortfall where the money was sourced from.
“In order not to disappoint the workers, the government thought that it is better to pay half and balance up later. I can assure you that the balance would be paid before the end of the week. You know that the government is yet to receive its own share of bailout from the Federal Government”.
The NLC boss said it was agreed that workers would be paid salaries for the months of January and February 2015 for secondary schools’ teachers and those in the core civil service.
With the development, Adekomi said all unions that are affiliate of labour movement will be meeting later yesterday to deliberate on the situation.
Govt urges understanding
The government in its own reaction said; “The attention of the State Government of Osun has been drawn to a growing discontent among workers in the state on the partial payment of salaries to workers on Grade Level 08 and above.
According to a statement by Semiu Okanlawon Director, Bureau of Communication and Strategy, Office of the Governor; “The governor, Ogbeni Rauf Aregbesola, wishes to appeal for calm and understanding from all workers in the state.   
“The government wishes to state that it realised the need to accommodate our senior citizens, the pensioners, within the limited funds available in order to ensure an all-inclusive payment that will alleviate the hardship that the delay in salaries and pensions had caused. It should be noted that happiness never decreases by being shared.”
“We are committed to meeting our obligations to the workers as more funds become available to settle such.This period calls for deep understanding of our challenges and we appeal to all and sundry for cooperation in this regard. 

Saturday, December 3, 2016

Why FG Should Tax Nigerians For Every Phone Call Above 3 Minutes’- CBN Governor, Emefiele


The Federal Government has been advised by Governor of the Central Bank of Nigeria, Godwin Emefiele to tax Nigerians for every call above 3 minutes as part of plans to cushion the effect of the economic recession.
He said this while speaking at the Annual Bankers’ Dinner in Lagos on Friday.
Emefiele added: “There are several ways we can raise additional revenue to finance the increased expenditure that is needed to engender fast and sustainable growth in the economy,”
Emefiele said, “I think we can consider introducing a negligible telecom surcharge to be entirely borne by the initiator of a call. In order to protect the poor and vulnerable amongst us, we could structure it to only take effect after the third minute of talk.
“Some analyses have indicated that the government could earn about N100 billion per annum from this alone. Obviously this surcharge will mainly be borne by middle and upper class people since I do not know many poor people who make calls for more than 3 minutes!”

Friday, December 2, 2016

Meet Alleged Founder Of MMM Nigeria, Pastor Ernest Chigozie Mbanefo


A Nigerian who is the mastermind behind the suspected Ponzi scheme known as MMM Nigeria has finally revealed.
According to an online report, the man whose name is Pastor Ernest Chigozie Mbanefo is based in South Africa.
Nigerian Communications Week said Mbanefo registered the site MMM-Nigeria.net domain on June 7, 2016 about at about 5 pm Nigerian time.
NAN quoting NCW And Pageone report written as far back as September said Mbanefo made a single year domain payment. The domain will expire on June 7, 2017.
It was also revealed that MMM Nigeria is not part of MMM Global – a Russian company that was responsible for one of the world’s largest Ponzi schemes in the 1990s.
MMM Global was founded by Russian politician Sergei Mavrodi, his brother Vyacheslav Mavrodi and Olga Melnikova.
The name of the company was taken from the first letters of the three founders’ surnames (MMM) But like MMM Global, the Nigerian scheme is also a pyramid marketing scheme where an investor gets a 30 per cent return on investment.
According to Page One, on the 15th of July, Ernest was awarded a certificate of completion of an online course titled ‘MMM Guiders School’. The certificate was supposedly signed by Sergei Mavrodi himself. He has since given himself the nickname the ‘Super Guider of MMM’. To share news and information about MMM, Ernest also operates a subdomain ‘news.mmm-nigeria.net.
“He is also described as: MMM Nigeria Super Guider who has been working selflessly and tirelessly towards the education, information and proper guidance for the MMM Nigeria Community’
Culled from NAN

Friday, November 11, 2016

REVEALED: Why EFCC boss Magu is the most trusted person by President Buhari


Muhammadu Buhari was elected as Nigerian president partially on the promise to eradicate corruption in Africa’s most populous nation.
It seems that he is living up to his pre-election promise of making the fight against corruption at all levels a top priority of his administration.
The country has been crippled since its independence by political instability, inadequate infrastructure, poor macroeconomic management, and corruption, above all.
In November, 2015, President Buhari has fired the chairman of the anti-corruption agency, the Economic and Financial Crimes Commission, Ibrahim Lamorde and chose Ibrahim Magu to lead his war against graft.
Later, Mr Magu has boasted that what it achieved within the last 11 months in terms of looted asset recovery surpassed its first 12-year record.
Consequently, many Nigerians wonder why Buhari trusted the EFCC chairman so much.
Professor John Paden, who recently presented Buhari’s biography, gave insight on insight on their close relations in his book on page 193.Muhammadu Buhari was elected as Nigerian president partially on the promise to eradicate corruption in Africa’s most populous nation.
It seems that he is living up to his pre-election promise of making the fight against corruption at all levels a top priority of his administration.
The country has been crippled since its independence by political instability, inadequate infrastructure, poor macroeconomic management, and corruption, above all.
In November, 2015, President Buhari has fired the chairman of the anti-corruption agency, the Economic and Financial Crimes Commission, Ibrahim Lamorde and chose Ibrahim Magu to lead his war against graft.
Later, Mr Magu has boasted that what it achieved within the last 11 months in terms of looted asset recovery surpassed its first 12-year record.
Consequently, many Nigerians wonder why Buhari trusted the EFCC chairman so much.
Professor John Paden, who recently presented Buhari’s biography, gave insight on insight on their close relations in his book on page 193.
 
He wrote: “Buhari has often said that if any of his own children were accused of corruption, and the authorities did not investigate, he would never forgive the authorities. On numerous occasions, Buhari has urged public officials to do their duty without fear or favour. He has also tried to inspire younger generations to regard public service as an honest calling.”
“For example, the current acting head of EFCC, Ibrahim Magu, was a schoolboy in Borno when Buhari was military governor in 1975. Buhari gave a talk to a group of boys that included Magu and urged them to do their best.”
“Magu was inspired and became a professional policeman. In 2015, Buhari asked Magu to head the EFCC, a dangerous job if done well. By mid-May 2016, Magu had secured 143 convictions of corrupt officials.”
Mr. Magu was one of the early recruits into the anti-graft commission by the pioneer chairman of the commission, Nuhu Ribadu.
Acting chairman is seen by peers as an incorruptible and courageous officer.
Recently he raised the alarm that there were deliberate plots to ruin his reputation by forces that are not comfortable with his campaign to rescue the nation from the vice grip of corruption.

He wrote: “Buhari has often said that if any of his own children were accused of corruption, and the authorities did not investigate, he would never forgive the authorities. On numerous occasions, Buhari has urged public officials to do their duty without fear or favour. He has also tried to inspire younger generations to regard public service as an honest calling.”
“For example, the current acting head of EFCC, Ibrahim Magu, was a schoolboy in Borno when Buhari was military governor in 1975. Buhari gave a talk to a group of boys that included Magu and urged them to do their best.”
“Magu was inspired and became a professional policeman. In 2015, Buhari asked Magu to head the EFCC, a dangerous job if done well. By mid-May 2016, Magu had secured 143 convictions of corrupt officials.”
Mr. Magu was one of the early recruits into the anti-graft commission by the pioneer chairman of the commission, Nuhu Ribadu.
Acting chairman is seen by peers as an incorruptible and courageous officer.
Recently he raised the alarm that there were deliberate plots to ruin his reputation by forces that are not comfortable with his campaign to rescue the nation from the vice grip of corruption.

Buhari’s $500M Donation To Clinton Campaign May Damage Nigeria Relation With Trump Govt. – US Group

A US non governmental group, the American Black Group for Democracy has revealed  that the Nigerian President, Muhammadu Buhari’s government plunged  $500Million (About N150Billion) into the failed Hillary Clinton electioneering campaign fund. They added that the donation may create a huge misunderstanding between Nigeria and the incoming Trump’s US government.


The Nigeria integrity challenged President, wasted no time in releasing the funds he reportedly pledged to the US secretary of states, Sen John Kerry and US Ambassador in Abuja to support of Mrs Clinton election.
President Buhari an Islamist fundamentalist, have a visible hatred for Mr Donald Trump, especially when the US president elect allegedly made some statement which the Nigerian president sources claimed is demeaning and a threat to the Islamic faith. The Obama government, which Hillary Clinton served as Secretary of States frustrated the Nigerian former government’s war against the Islamist terror group, Boko haram and blocked every source of sourcing arms against the terrorists.
The US group saw Buhari’s donation as an appreciation or a pay back to the the Obama’s government that frustrated Nigerian government under Goodluck Jonathan in all front and used threats and intimidation to kick scare Jonathan out of office.
They added that Mr Kerry’s frequent visit to Northern Nigerian may not be unconnected to the process to release the funds, as Buhari later quickly mobilized some Northern elders and his party governors of Northern inner circle, helped to facilitate a quick and secret ferrying of the money with secured Presidential Fiat.
The defeat of Hillary Clinton was received as a great shock by the Nigerian government, that was help to power by the polices of Mrs Clinton as secretary of state and the $500m donation is now a failed project that my be investigated by the Trump government.

Left alone, President Buhari should not have congratulated Donald Trump because of the animosity he bears for the American. It took the intervention and criticism of Nigerians to force President Buhari to congratulate the US President elect, Mr Donald Trump, as the Nigerian Seat of government was thrown into turmoil when it became certain that Trump has defeated Buhari’s favoured candidate, Mrs Clinton.
All the world leaders including those from Africa made a straight phone call to congratulate Mr Donald Trump, but President Buhari battling the fact that the incoming US government is aware of his hefty financial support to their opponent (Clinton) developed cold feet and choose to congratulate Trump through a twitter post.
Nigerians were shocked about this revelation that Buhari was busy funding a US presidential candidate, while millions of Nigerians are starving to death as a result of the recession caused by his clueless and directionless economic policies.
Nine months ago it was reported that the reckless spending Nigerian leader, Buhari spent billions of Naira on his favoured candidate in the Niger republic presidential election, Mahamadou Issoufou who was going for re-election,  in a neighbouring West African country.  President Buhari’s pictures were displayed side by side to that of the presidential candidate, Mahamadou Issoufou in campaign materials.

Thursday, November 10, 2016

"Say No To Bribe" - Nigerian Police Holds Solidarity Protest to support Buhari's fight Against corruption.


The Nigerian Police Force, Anambra State Command has called on the public to help and support the fight against corruption.

 This is contained  in a video reportedly made available online to online publisher Omojuwa.Com.   The video clearly showed Policemen and women in their uniforms carrying banners and placards with different anti-corruption inscriptions.

This sight is actually a surprising and awkward considering how corrupt the Nigerian Police is perceived to be.

 Speaking to pressmen, the Anambra State Police Commissioner, Mr Sam Okaula, in a statement said; “We are now saying no to corruption. Enough is enough. We are tired of this Toga of corruption that has been hanging on our neck for quite sometimes now. Everyone of us is coming out to say no to corruption and to crime. That is what you have seen today. This message will go down the line. The Area Commanders will pass this information across and also the DPOs. We also want to sensitize the public that the Police should not be lured into corruption. The Police is ready to fight corruption to a standstill.”


 Speaking further was the PPRO of the State Command, Nkiru Nwode. She was also heard saying; “You go to any Police Station and you’re asked to pay for Bail. Please, my CP operates an open door policy. His open door policy has no limit. Come to the office or call the PPRO number which has been made available to everyone. Please call and report any Police officer that asks you for money for bail. Meanwhile, not all offenses are bailable.”

 The activity resulted into a traffic gridlock as the men and women of the Anambra State Police Command took to the streets chanting anti-corruption songs to create public awareness against corruption in the Police force and Nigeria as a whole.

 This is a welcomed development in the country and if this kind of activities are backed up with properly structured actions, Nigeria may yet be able to rid it’s Police force of the cancerous corruption plaguing it.
Source: Omojuwa.Com

Married man paraded for stealing pot of soup

– A 35-year-old suspect has confessed to stealing a pot of soup, some wraps of fufu and half basin of garri in Yenagoa local government area of Bayelsa state

 – The married man blames his actions on hunger and economic hardship 

– The suspect was paraded round the community with the stolen items as a deterrent to others then released afterwards 


 The alleged thief being paraded with the stolen items. Photo credits: The Punch. 

The alleged thief being paraded with the stolen items. Photo credits: The Punch. A father of two has been paraded by a vigilance group in Yenagoa local government area of Bayelsa state for allegedly stealing a pot of soup, 12 wraps of fufu and a half basin of garri flour.

The 35-year-old suspect who was identified as Kaduna Enatimi, was said to have been arrested by the vigilantes about 2am on Thursday, November, 10, while comfortably consuming some of the stolen wraps of fufu and the soup, the Punch reports.

The suspected thief was also said to have pleaded with the vigilantes, blaming his actions on hunger and economic hardship.

The head of the Igbogene vigilance committee, Chief MoneySweet Asomo, said the suspect was caught red handed “doing justice” to the soup and food items stolen from a cafeteria owned by an Akwa Ibom state woman in the area.

“We were on patrol at about 2am on Thursday. When we got to the Timida School area, we saw a man at a local food joint eating. The food kiosk is owned by an Akwa Ibom indigene popularly called Madam Blessing,” Asomo said. 

“We questioned Enatimi and he confessed to have stolen the pot of soup, some wraps of fufu and half basin of garri. He claimed it was the economic hardship that led him to the crime.” 

 It was, however, learnt that the paramount ruler of the area, the Obenibe X1 of Epie Kingdom, King Hope Adike, intervened and asked them to parade him (the suspect) round the community with the stolen items as a deterrent to others.

After parading the suspect round the village, he was released and asked to sin no more considering his defence that hunger and hardship made him to steal the items.

Buhari’s minister applauds Goodluck Jonathan, other two Ex-Presidents on economy

– Minister of state for budget and national planning Zainab Ahmed says President Muhammadu Buhari is taking steps that past three presidents could not take 

– Ahmed said past leaders Olusegun Obasanjo, late Umar Musa Yar’Adua and Goodluck Jonathan had very laudable economic plans

Minster of state for budget and national planning Mrs Zainab Ahmed says Jonathan has done well with economic plans

Minister of state for budget and national planning Zainab Ahmed has applauded the economic plans of past presidents Olusegun Obasanjo, Umar Musa Yar’Adua and Goodluck Jonathan.

The Cable quotes Ahmed as saying on Thursday, November 3 that the trio of Nigeria’s past leaders had excellent economic plans but lacked the will to properly implement them.

Ahmed said this while speaking at the‎ second presidential economic communication workshop in Abuja.

“We have had very good plans, from NEEDS, Seven Point Agenda to Transformation Agenda. All of them were good plans, but the political will to implement them was lacking,” 

Ahmed said. Share on Facebook Share on Twitter Goodluck Jonathan



Minister of state for budget and national planning says ex-president Jonathan had strong economic plan 

She however noted that the Buhari administration was taking critical steps to get the country out of a recession.

She said one of the steps was “growing non-oil exports in the light of the competitive and comparative advantage created by the depreciation of the naira following the introduction of a market effective exchange rate”.

She also disclosed that the 2017 appropriation bill was ready but that the budget ministry was waiting for the approval of the medium term expenditure framework‎ (MTEF) before the proposal would be presented to the national assembly.

“The 2017 budget is ready, but we need the MTEF to be approved so we can make adjustments if there is a need for‎ an adjustment,” she added.

Meanwhile, after Senate rejected President Muhammadu Buhari’s request for a $29.96billion loan on Tuesday, November 1, minister of information and culture Lai Mohammed has revealed what is the next line of action.

Mohammed told a group of reporters on Wednesday, November 2 that the Presidency aims to represent the loan request and is very confident that it would be approved.
 

Nigerian parliament orders crackdown on promoters of ‘MMM’ scheme


The House of Representatives on Wednesday called on law enforcement agencies to track down promoters of a “questionable” investment scheme popularly known as ‘MMM.’

The lower chamber also mandated its committees on banking and currency and financial crimes to investigate the scheme.

The MMM is a deposit money scheme that promises a 30 per cent interest on investment per month.

Despite its popularity amongst Nigerians of all classes, critics maintain that the business is a Ponzi scheme because its operators use money from later investors to pay earlier investors.

Those behind the venture are not known to the Nigerian regulatory agencies, including the Central Bank and the Nigerian Deposit Insurance Corporation.

The business is also said not to have been registered with the Corporate Affairs Commission, making it difficult to identify its promoters.

Regulatory and anti-corruption agencies had earlier warned Nigerians against participating in the scheme.

But lawmakers said members of a syndicate who conduct seminars to train people on how to invest in the business should be arrested.

The development followed a motion of urgent national importance raised by Akinlade Fijabi from Oyo State, who described MMM as a ‘Rob Peter to Pay Paul Scheme’.

Mr. Fijabi said the operators of MMM are exploiting the economic situation of Nigerians that had left them desperate for income through any means without considering the implications.

Another lawmaker from Ondo State, Bode Ayorinde, said lawmakers should be concerned because they will likely be inundated with petitions if the scheme goes burst.

“When the business goes burst, it is the same House that people will flood with petitions,” Mr. Ayorinde said.

An Enugu lawmaker, Dennis Amadi, said the House should save Nigerians from themselves, because the collapse of MMM could make many commit suicide.

“The House will not wait until these crooks defraud Nigerians of billions of naira or until people start committing suicide,” Mr. Amadi said.

Speaker Yakubu Dogara ruled that the motion was adopted and urged the committee to expedite its investigation and report back to House within four weeks