as Tinubu issues ultimatum, Naira rises to N1,475/$ in parallel market, Labour considers N100,000

After suffering backlash and controversy over their initial demand of N494,000, the Labour Union is now debating a fresh proposal for a minimum salary of N100,000. The Tripartite Committee on National Minimum Wage made this decision as it started holding daily sessions in an attempt to come to an agreement.CONTINUE FULL READING>>>>>

The Minister of Information and National Orientation, Mohammed Idris, had previously expressed concerns that the proposed minimum wage would put a huge burden on the nation’s finances, estimated to be around N9.5 trillion. Despite the intervention of the National Assembly, Labour went on an indefinite strike on Monday, which grounded economic activities nationwide.

Banks, airports, public schools, and courts were shut, forcing the Federal Government to convene an emergency meeting to find a solution. The Labour Union has now suspended the strike for five days after President Bola Tinubu agreed to pay a national minimum wage higher than N60,000.

Naira Appreciates to N1,475 Per Dollar in Parallel Market

Photo credit: Vanguard Newspaper

Naira has appreciated to N1,475 per dollar in the parallel market, up from N1,480 per dollar on Monday. However, the Naira depreciated to N1,476.95 per dollar in the Nigerian Autonomous Foreign Exchange Market.

INEC Extends Voter Registration Exercise in Edo and Ondo

Photo Credit: Punch Newspaper

The Independent National Electoral Commission has extended the Continuous Voter Registration exercise in Edo and Ondo states to June 9. The exercise recorded significant progress, with 120,458 new voters registered. The commission had earlier set Wednesday, June 5, 2024 as the closing date for the registration exercise.

Enugu Begins Payment of Second Batch of Compensation for Bus Terminal

The Enugu State government has begun the disbursement of the second batch of compensation to property owners and tenants affected by the construction of a modern transport terminal at Holy Ghost, Enugu. The move has been commended by the Nigerian Railway Corporation, which is the lessor of the affected properties.

The Commissioner for Transportation in Enugu State reiterated that only original tenants of the Nigerian Railway Corporation are entitled to compensation. They should submit their documents to the NRC and then forward them to the state for immediate payment.CONTINUE FULL READING>>>>>