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Economic hardship: Financial expert proffers alternative of digital shares to boost income

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By Omolola Dede Adeyanju

A financial expert Dr. Favour Sunano has urged Nigerians to purchase digital shares that can be transferred to tenable cash all around the world as a means of empowering themselves amidst the biting economic hardship.

Dr Favour who is also the Managing Director of Blockchain Global Resources Ltd made this known at the company’s Multi Stream Business Summit held in Lagos.

Speaking, Dr Favour said he has embarked on a project to ensure multiple streams of income for people at various stages and levels of life.

Dr. Favour Sunano further examined the three passive income streams that cannot be ignored, namely; ‘Invest, Cashback and Share.’

He explained that as technology takes a larger space in the globe, with a smartphone investments can be made to purchase digital shares that can be transferred to tenable cash all around the world.

The cryptocurrency expert submitted “The Summer season of an individual life is from the age of 18 to 50, hence, from the age of 70 to 120 is a winter season of life when life becomes colder.”

Dr Favour emphasised the necessity of digital shares which can be bought with ‘Ultima’, a cryptocurrency.

He enumerated that in an economy where dollars determines the rate and prices of commodities, it is expedient to convert local currency to digital dollars (USDT).

Meanwhile, one of the program facilitators at the Summit, Hon. Imafidon spoke as regards finance and economy. He said, “Making money is a project and every other project is accrued to money. If you don’t work on your money project, every other project will be delayed.”

Mr Imafidon enumerated the three dimension Income streams which are: one time income such as the salary or a sale of ones landed properties; the once and always income, which is set up once and continuously generates more money; lastly he mentioned the free flow which is money that is self-generating  without stress. This, he likened to the Ultima cryptocurrency, and urged everyone to take advantage of the investment opportunity.

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FAAN starts sales of E-Tags at airports

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The Federal Airport Authority of Nigeria (FAAN) said it has started the sales of e-tags at airports.

FAAN confirmed this in a statement on Friday. “Following the presidential directive that all citizens are mandated to pay for e-tags at all the 24 federal airports across the country, we wish to inform the general public that the e-tags are available for sale from Friday, 17th May 2024 at the following locations,” it said.

“Lagos: Murtala Muhammed International Airport Lagos, Terminal 1, 5th Floor) Office of HOD Commercial. Contact: 08033713796 or 08023546030.

“Abuja: Nnamdi Azikiwe International Airport, HOD Commercial Office (General Aviation Terminal) Contact: 08034633527 or 08137561615.”

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FG, Labour to reconvene next week over minimum wage negotiation

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The Tripartite Committee on Minimum Wage will reconvene on Tuesday, May 23 to further negotiate a reasonable new minimum wage for workers, after the organised labour walked out of the negotiation on May 15.

An invitation letter sent to the labour leaders by the chairman of the committee, Bukar Goni, states that the other members of the committee have agreed to shift grounds from the N48,000 proposal which was made on Wednesday.

The letter appealed to the labour leaders to speak to their members and attend the reconvened meeting next Tuesday.

The organised labour comprising the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have proposed a new minimum wage of N615,000, which is way higher than the N48,000 proposal by the government.

The organised private sector, on the other hand, proposed an initial offer of N54,000. After dumping the talks, the labour leaders addressed a press conference where they expressed their anger over the Federal Government’s offer.

They blamed the government and the private sector for the breakdown in negotiation.

The Federal Government had failed to present a nationally acceptable minimum wage to Nigerians before the May 1 Labour Day.

The situation has forced labour to be at loggerheads with the government. In the wake of the tussle, the NLC President Joe Ajaero insisted on the N615,000 minimum wage, arguing that the amount was arrived at after an analysis of the economic situation worsened by the hike in the cost of living and the needs of an average Nigerian family of six.

Ajaero and labour leaders have given the Federal Government a May 31 deadline to meet their demands.

On January 30, Vice President Kashim Shettima inaugurated the 37-member  tripartite committee to come up with a new minimum wage.

With its membership cutting across federal, and state governments, the private sector, and organised labour, the panel is to recommend a new national minimum wage for the country.

During the committee’s inauguration, the Vice President urged the members to “speedily” arrive at a resolution and submit their reports early.

“This timely submission is crucial to ensure the emergence of a new minimum wage,” Shettima said.

The 37-man committee is chaired by the former Head of the Civil Service of the Federation, Goni Aji.

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Tinubu appoints governing board members for 111 tertiary institutions

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President Bola Tinubu has approved the appointments of at least 555 persons to serve as Pro-chancellors/Chairmen and members of Governing Boards of 111 federal universities, polytechnics and Colleges of Education.

This followed Tinubu’s assent to a list of nominees selected by the Ministry of Education.

It was signed by the ministry’s Permanent Secretary, Mrs. Didi Esther Walson-Jack.

“The inauguration and retreat for the Governing Councils will take place on Thursday, May 30 and Friday, May 31, 2024, at the National Universities Commission, 26 Aguiyi Ironsi Street, Maitama, Abuja. Both events will commence at 9:00am daily,” said Walson-Jack.

When contacted for confirmation, the Presidency said the list emanated from the Ministry of Education.

“This is from the Federal Ministry of Education…they make the nominations and forward them to the President to sign. But they are at liberty to release it from their end,” the President’s Special Adviser on Information and Strategy, Bayo Onanuga, told our correspondent on Saturday.

The appointments come days after the Academic Staff Union of Universities had threatened to embark on another strike, potentially disrupting the academic calendar and causing further setbacks in the country’s higher education sector.

The union, on Tuesday, decried the failure of the Federal Government to appoint Governing Councils for federal universities.

The union also faulted what it described as the nonchalant attitude of the President Bola Tinubu-led Federal Government to matters about academics in federal universities.

The body of academics, during a briefing at the University of Abuja, also faulted the 35 per cent salary increment for professors and the 25 per cent salary increment for other academics in the university system.

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