Speaking on the ‘Ounje Eko’ initiative, where food items are sold at discounted prices, the governor said, “We created 59 makeshift markets outside of the regular markets out of our 57 local government and local council development areas and made it Sunday-Sunday market.”
News
Transfer deadline: Three players to join Chelsea today
Chelsea is set for a busy last day in the transfer window.
The Blues have already unveiled Wesley Fofana from Leicester City on Wednesday after they agreed a £70m.
Three players are in line to join the Blues today and they include: Pierre-Emerick Aubameyang, Edson Alvarez and Jasko Gvardio.
Chelsea is now negotiating with Barcelona over the signing of Pierre-Emerick Aubameyang, which could see Marcos Alonso go the other way.
The Blues are also in for Ajax midfielder, Edson Alvarez.
They are willing to pay in excess of £40m for the Mexican; Alvarez after manager, Thomas Tuchel bemoaned the depth of his squad following Tuesday’s defeat at Southampton.
RB Leipzig defender, Josko Gvardio is another player Tuchel is looking at.
News
Lagos workers now earn minimum of N70,000 since January – Sanwo-Olu
The Governor of Lagos State, Babajide Sanwo-Olu, has disclosed that workers have been enjoying an additional N35,000 wage allowance since January.
This is as he revealed the state government will soon roll out a new minimum wage scheme.
The governor stated that those who are currently earning a minimum wage of N35,000 or more now take home a salary of N70,000 or above since the beginning of the year.
“The civil servant and all public officers in Lagos know that since January, we have continued to pay the wage allowance of a minimum of N35,000 over and above what they were earning before.
“What this means is that people that are earning a minimum of N35,000 or more before are now earning over N70,00. That is what they have been enjoying since January.
“So it is important for people to know that we make these things very clear that this government has doubled up to ensure that at this difficult time, it has not left the citizens on their own,” Sanwo-Olu said at a state function on Thursday.
The governor while giving an update on the intervention the state embarked on to ameliorate the current economic hardship, said his administration will distribute food items to 500,000 households in the state through unions and local governments.
News
AGF warns treasury managers against corruption, fraud
Mrs Oluwatoyin Madein, the Accountant General of the Federation (AGF) has advised treasury managers to guard against corruption, fraud and financial mismanagement by implementing strong internal control mechanisms.
Madein said this at the training programme organised by the Chartered Institute of Treasury Management (CITM) in Abuja on Thursday.
The AGF, who was represented by Alhaji Muhammed Aliyu, Director, Special Duty, said that there was a need to safeguard public funds and protect the interest of government and the public.
“We must remain watchful against the threats of corruption, fraud and financial mismanagement by implementing a strong internal control system and promoting a culture of compliance.”
This, according to her, is in a bid to achieve the virtues and behaviours necessary to curtail corruption in the polity.
She said: “training and professional development are essential in equipping the practitioners with the knowledge and skills necessary to conduct the activities of Treasury Management Ethically.”
“Let us seize this opportunity to expand our understanding of ethical principles and best practices, so as to strengthen our ability to serve the public well.”
She urged the participants to uphold the highest ethical standards in their work and actions as treasury professionals.
According to her, together, we shall strive to build a future where transparency, integrity and accountability will be the focus in management of public finances.
“As professionals, we must resist the temptation of personal interest or undue influence in our decision-making processes.
“We must always prioritise the public interest above all other interests, even in the face of unpleasant situations or pressure from the public.” she said.
She said ethical conduct in treasury management entailed an extremely large number of principles, which includes transparency, honesty, accountability, and fairness.
“We must adhere to these principles seriously, not only to maintain public trust but also to imbibe a culture of integrity and transparency within our organisations.”
She said that as custodian of public funds, treasury managers bear a tremendous responsibility to uphold the highest standards of ethics and integrity in our profession.
Also speaking, the Registrar, CITM, Mr Olumide Adedoyin, said to curtail financial crime, there must be deterrent, adding that enlightenment is also key.
“Once you create awareness, you must empower professional associations particularly associations like CITM, ANAN, ICAN, because where we are going is an evolving journey.
“And along the line, there are gaps that needed to be filled and that is why treasury management becomes important , if you don’t involve treasury management in your financial flow you are going to lose it”, he said.
He said that sound treasury management would help to safeguard the nation’s financial system by fortifying financial inflow and reducing corruption in the system.
News
Nigerian telecom operators ask NCC to approve price hike
Telecommunication operators in Nigeria have said they are the only service providers that have not implemented price increments in the last 11 years despite soaring inflation.
The Association of Licensed Telecom Operators of Nigeria, ALTON, and the Association of Telecommunication Companies of Nigeria, ATCON, disclosed this in a recent joint statement.
The associations noted that current telecom sector pricing does not align with economic realities, threatens the industry’s sustainability, and can erode investors’ confidence.
The operators said the time has come for the Nigerian Communications Commission to approve price increments for the sector.
“ALTON and ATCON respectfully reiterate that telecommunications infrastructure development requires substantial investments in network expansion, maintenance, and technology upgrades.
“Despite the adverse economic headwinds, the telecommunications industry remains the only industry yet to review its general service pricing framework upward in the last (11) years, primarily due to regulatory constraints.
“For a fully liberalized and deregulated sector, the current price control mechanism, which is not aligned with economic realities, threatens the industry’s sustainability and can erode investors’ confidence.
“ATCON and ALTON call upon the government to facilitate a constructive dialogue with industry stakeholders to address pricing challenges and establish a framework that balances consumers’ affordability with operators’ financial viability”, the statement by ALTON Chairman Engr. Gbenga Adebayo, and the President of ATCON, Engr Tony Izuagbe Emoekpere, said.
The development comes amid Nigeria’s soaring inflation, which stood at 33.20 in March 2024. This is as energy costs keep rising in Nigeria.
-
Finance3 months ago
Court orders Sen. Victor Umeh to repay N136m bank debt to AMCON
-
Abuja Update2 months ago
UNDP, FG partnership needed to achieve inclusion, equity- Minister
-
Abuja Update1 month ago
Banks drive stock market performance with N147bn gain
-
Infotech3 weeks ago
World Backup Day: NITDA urges Nigerians to ensure backup of data
-
capital market2 years ago
Rt.briscoe, FBNH, Others halts negative performance of stock market
-
Health3 weeks ago
Immunisation: FG, GAVI seek synergy with Sokoto Govt.
-
Infotech2 weeks ago
Forex for Beginners: Unveiling the currency exchange and how to trade it
-
Health1 week ago
Capacity training will reduce migration of health workers- NPHCDA