BILLION

The Nigerian National Petroleum Company Limited has announced the compulsory retirement of all management staff with less than 15 months to statutory retirement. In the announcement made on Tuesday, September 19, the company said the retirement of the affected workers is with immediate effect and also in line with its business objectives. The statement read;  “In our bid to pursue effective organisational renewal to support the delivery of our strategic business objectives, it has become imperative to rejuvenate our workforce. “Consequently, in addition to the recent exit of three Executive Vice Presidents, other management staff with less than 15 months to statutory retirement will be exiting the company effective September 19, 2023. “This is in line with our commitment to scale up NNPC Ltd.’s capabilities through targeted talent management and equal opportunity for all Nigerians.”

A lawsuit filed by Senator Adamu Bulkachuwa, seeking to stop the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Department of State Services (DSS) from probing him over the comment he made during the valedictory session of the 9th National Assembly, has been struck out by Justice Inyang Ekwo of the Federal High Court in Abuja.   Recall that Senator Bulkachuwa had said that he made his wife, Justice Zainab Bulkachuwa, “extend help” to him and his colleagues during her time as President of the Court of Appeal between April 2014 and March 2020. The comment triggered condemnations from Nigerians with calls for his probe.   Justice Ekwo who presided over the lawsuit, struck it out on grounds of lacking merit. He stated that the lawmaker ought to understand the implications of the statement that he made on the floor of the Senate.   Ekwo stated that the legislative immunity that Bulkachuwa claims in this case does not avail him. He added that i

President Bola Tinubu has approved the appointment of Zacch Adedeji as the new Acting Executive Chairman of the Federal Inland Revenue Service (FIRS).   A statement released by Ajuri Ngelali, Special Adviser to the President on Media and Publicity, says the President has directed the erstwhile FIRS Chairman, Muhammad Nami, to proceed on 3 months of pre-retirement leave, as provisioned by Public Service Rule (PSR) 120243, with immediate effect, leading to his eventual retirement from service on December 8, 2023.   ‘’Hon. Zacch Adedeji is hereby appointed in acting capacity for a 90-day period before his subsequent confirmation as the substantive Executive Chairman of the Federal Inland Revenue Service for a term of four (4) years in the first instance. Hon. Zacch Adedeji is a first-class graduate in accounting from the Obafemi Awolowo University. He most recently served the nation as the Special Adviser to the President on Revenue, following meritorious service terms as the

The much-anticipated verdict of the Presidential Election Petition Court (PEPT) is expected to be delivered on Wednesday, September 6th.  The Registrar of the Court of Appeal, Umar Bangari, disclosed this during an interview with Channels Television on Monday, September 4. He stated that the proceedings will be open to live broadcast by interested television stations. The Labour Party (LP), the Peoples Democratic Party (PDP), and the Allied Peoples Movement (APM), as well as their presidential candidates, had petitioned the tribunal seeking to nullify the election of President Bola Tinubu as the winner of the 2023 presidential election. Judgement is also expected to be delivered by election tribunals in 25 states for governorship, National Assembly, and state assembly election petitions. The results of the polls announced by the Independent National Electoral Commission (INEC) are being contested in no fewer than 25 states out of the 28 states where elections were conducted

The Economic Community of West African States Defence Chiefs have agreed a “D-day” for a possible military intervention to restore civil rule in Niger if diplomatic efforts fail. According to Reuters, ECOWAS Commissioner for Political Affairs, Peace and Security Abdel-Fatau Musah, said on Friday, without disclosing when that is. The official made the comments at the end of a two-day meeting of West African army chiefs in Ghana’s capital Accra, where they have been hashing out the logistics and strategy for a possible use of force in Niger, which ECOWAS said would be the last resort. The ECOWAS troops a day earlier pledged readiness to participate in a standby force that would restore democracy in Niger after generals toppled and detained President Mohamed Bazoum. All member states, except those under military rule and Cape Verde, agreed at a meeting in Accra, Ghana capital, on Thursday to activate a “standby force” as a last resort to restore democracy in Niger. Speaking at

The Economic Community of West African States, ECOWAS, has ordered its standby force to restore constitutional order in NIger Republic. The President of the ECOWAS Commission, Omar Alieu Touray made the declaration while reading the resolution of ECOWAS on the Niger coup at the ECOWAS Extraordinary meeting in Abuja on Thursday, August 10. ECOWAS also called on the African Union, AU, partner countries, and institutions to support the resolution taken by the sub-regional body. ECOWAS said all efforts made to dialogue with Niger Republic military junta have been defiantly rejected by the coup leaders as they condemn the continuous detention of President Mohamed Bazoum and his family members. The resolution partly reads, “Direct the committee of the Chief of Defence Staff to activate the ECOWAS standby force with all its elements immediately. “Order the deployment of the ECOWAS stand-by force to restore constitutional order in the Republic of Niger. “Underscore its continued co

The investigation into the alleged job racketeering at the Federal Character Commission has taken a different twist as one Haruna Kolo, a former Integrated Payroll and Personnel Information System (IPPIS) desk officer at the commission has admitted collecting N75 million from some persons on the instruction of the chairman, Farida Dankaka.   Kolo alleged that the FCC chairperson instructed him to send the money to his personal bank account and pay to her in cash, which he did at several meetings in her house.   Kolo said he resigned from FCC on November 2, 2022, to begin a new job at the Asset Management Corporation of Nigeria AMCON, but still received salary from FCC on two occasion. He revealed that he notified FCC human resource officer about the payment but was told it was not an issue and that it would be handled.   He said;    “When she came to Federal Character Commission as the executive chairman, she appointed me as a protocol officer and I carried out my duty dili

The Federal Government has directed the Chief Medical Directors and Medical Directors in the Federal Tertiary Hospitals to implement the no work, no pay policy on the striking members of the Nigerian Association of Resident Doctors. The FG also directed the hospitals to maintain an attendance register for all resident doctors willing to work. The letter obtained by our correspondent on Thursday was written by the Federal Ministry of Health and addressed to the CMDs and MDs of all FTHs in the country. The letter, dated August 1, 2023, was titled, “Re: Incessant strike action by the Nigerian Association of Resident Doctors: Implementation of ‘No Work, No Pay’ policy of the Federal Government,” was signed by the Director of Hospital Services, Dr Andrew Noah. NARD embarked on an indefinite strike on July 26, 2023, to press home its demands. The strike followed the expiration of a two-week ultimatum to the government to meet its demands. The doctors are demanding the implementat

Barely 24 hours after meeting with President Bola Tinubu where an agreement was reached to call off their protests, the rapprochement between the organised labour and the Federal Government appeared to have collapsed as the unions on Thursday night vowed to embark on a nationwide strike from August 14 if their leaders were summoned for contempt of court orders.  The Nigeria Labour Congress hinged its decision on the contempt of court application filed by the Federal Ministry of Justice against the labour leaders on Wednesday. It threatened to down tools should the Federal Government fails to withdraw the lawsuit accusing the labour leadership of disobeying court orders. The NLC President, Joe Ajaero, announced the decision on Thursday night after the union’s National Executive Council meeting which was held in Abuja. In a bid to avert a strike by the labour movement last month, the FG had through the Federal Ministry of Justice secured an order from the National Industrial

Barely 24 hours after embarking on nationwide protests against the removal of fuel subsidy, the Organised Labour has suspended its proposed strike action. The President of Trade Union Congress, Festus Osifo made this known during an interview with Arise News on Thursday morning. He said the Labour leaders who had earlier met with President Bola Tinubu extracted some commitments to some of the issues raised during the meeting for immediate implementation. He explained the suspension of the strike was based on this. SB  reported that in a press release issued on Tuesday, the Nigeria Labour Congress had announced that it would proceed with the nationwide mass protest as initially planned, following a meeting with the Federal Government. The NLC President, Comrade Joe Ajaero noted that the outcome of the meeting with the government did not yield positive any changes or concessions that would alter their course of action. They stressed that they remained steadfast in their commi

Burkina Faso and Mali have warned that any military intervention in Niger to restore deposed President Mohamed Bazoum will be considered a “declaration of war against their two countries”. The warning from Niger’s military-ruled neighbours came a day after West African leaders, supported by their Western partners, threatened to use “force” to reinstate the democratically elected Bazoum and slapped financial sanctions on the putschists. In a joint statement, the governments of Burkina Faso and Mali warned that “any military intervention against Niger would be tantamount to a declaration of war against Burkina Faso and Mali.” They said the “disastrous consequences of a military intervention in Niger… could destabilise the entire region.” They also said they “refuse to apply” the “illegal, illegitimate and inhumane sanctions against the people and authorities of Niger.” This came as the Russian Federation also advised the Economic Community of West African States against the u

President Bola Tinubu will today send a new batch of ministerial nominees to the Senate for screening,  The PUNCH  has learnt. According to a very reliable source in the Senate, the names would either come on Tuesday night or very early on Wednesday morning. The source exclusively told our correspondent that the names of the new batch of ministerial nominees would be read at the plenary today. The lawmaker added that the screening of the 28 nominees will be concluded today so that the next batch can be screened thereafter. “By Wednesday, the new set of nominees will be unveiled, so that by Monday, we will be through with their screening. “We want to conclude with the screening before we go on our recess. We wouldn’t want a situation where we would go on recess and we would now start calling lawmakers to back to come for screening,” the lawmaker said. The Senate had on Monday screened 14 out of the 28 ministerial nominees earlier submitted by the President. On Tuesday, nine

The two-day meeting between the Federal Government and the organised labour ended in a deadlock on Tuesday, with the Nigerian Labour Congress and the Trade Union Congress leaders vowing to begin a nationwide protest against the removal of fuel subsidy. This came as oil workers under the aegis of the Petroleum and Natural Gas Senior Staff Association began an indefinite strike on Tuesday, citing inhumane treatment by the management of the Nigerian Upstream Petroleum Regulatory Commission, an agency of the Federal Government. The strike and planned protest by the organised labour slated for Wednesday (today) over the fuel subsidy removal by the Federal Government may shut down the country and paralyse the economy. Oil workers had earlier on Tuesday staged a protest and shut down the commission’s office in Lagos, while also vowing to shut down the agency’s offices nationwide. Speaking on the planned strike on Tuesday, the NLC President, Joe Ajaero, said the organised labour ha

President Bola Tinubu this evening addressed the nation, announcing some palliatives to cushion the effect of high cost of living experienced in the country.    Some of the palliatives the President rolled out include loans for businesses, students and review of minimum wage.    Read President Bola Tinubu's full speech below…   My fellow citizens  I want to talk to you about our economy. It is important that you understand the reasons for the policy measures I have taken to combat the serious economic challenges this nation has long faced. 2. I am not going to talk in difficult terms by dwelling on economic jargon and concepts. I will speak in plain, clear language so that you know where I stand. More importantly, so that you see and hopefully will share my vision regarding the journey to a better, more productive economy for our beloved country. 3. For several years, I have consistently maintained the position that the fuel subsidy had to go. This once beneficial measu

Heads of State and Government of ECOWAS on Sunday July 30, in Abuja called for the immediate release and reinstatement of President Mohamed Bazoum as the legitimate Head of State and Government of the Republic of Niger.   In a communique at the end of the Extraordinary Summit on Socio-Political Situation in the Republic of Niger read by the President, ECOWAS Commission, Dr Omar Touray, the leaders also rejected any form of purported resignation by President Bazoum and declared him as the only recognised and elected President by ECOWAS, the African Union and the international community. ‘‘In this regard, only official acts of President Bazoum or his duly-mandated officials will be recognized by ECOWAS,’’ they said. The leaders expressed strong condemnation of the attempted overthrow of constitutional order in Niger, and the illegal detention of President Bazoum, as well as members of his family and government. They demanded full restoration of constitutional order in the Rep

Reports suggest that a coup attempt is possibly ongoing at the presidential palace in Niamey, on July 26.   It's been reported that the official residence of Nigerien President Mohamed Bazoum was sealed off by the elite Presidential Guard. AFP reported that why the action was taken is yet to be disclosed.   Although Bazoum's official presidential complex in Niamey was sealed off, there was no abnormal military deployment or sounds of gunfire in the area, and traffic is normal.   The landlocked West African state has been one of the most coup-prone nations in the world, with four since its independence from France in 1960, not to mention several attempted coups. The last successful one was in February 2010, overthrowing the president at the time, Mamadou Tandja.   Bazoum was democratically elected in 2021 and considered a close ally of France. There was an attempted coup on March 31, 2021, two days before the inauguration. The suspected ringleader, an air force capta

A lawsuit filed by the Academic Staff Union of Universities (ASUU), challenging the registration of the Congress Of University Academics (CONUA) and the Nigeria Association of Medical and Dental Academics (NAMDA) as trade unions by the Federal Government, has been struck out by President of the National Industrial Court, Abuja, Justice Benedict Kanyip.    Justice Kanyip who delivered judgment on the case on Tuesday, July 25, held that Section 27 of the Trade Union Act allows for more than one trade union in employment. He held that the section does not depict trade monopoly.   The judge noted that ASUU's claim of former Minister of Labour, Chris Ngige, and the registrar of Trade Union not having the right to register NAMDA and CONUA is baseless.    Kanyip also said that ASUU presented hearsay evidence which did not show the complete registration of CONUA and NAMDA when it filed the suit. He stated that the suit was filed on October 26, 2022, when CONUA and NAMDA registr

SEVERAL  markers and official responses in the last week demonstrate the unfolding turmoil in the economy and the uncoordinated response of President Bola Tinubu. While the naira exchange rate rose to N870 to $1, and the pump price of petrol to N617 per litre, inflation rate in June was reported at 22.79 per cent. Food inflation was even higher; and external reserves are headed for another dip on the back of unmet crude production targets. Tinubu then declared an “emergency” in food security, ordered the release of grains, and reviewed his earlier “palliative” plan. Ominous clouds are gathering and the administration may be ‘losing the plot.’ It must change tactics and re-strategise to avoid pushing the economy into an unstoppable tailspin. Signs of chaos are already visible. The divergence between the Central Bank of Nigeria’s official Importers and Exporters Foreign Exchange Window moved close to N100; while the I&E FX window closed at N777.82/$ on Friday, the rate at