Exclusive Reports

Wed, May

CBN Retrenches 200 Staff In Restructuring Exercise

The Central Bank of Nigeria (CBN) has retrenched approximately 200 employees across various departments in a bank-wide restructuring exercise. This latest round of job cuts impacted several departments including: Human Resources; Development Finance; Trade and Exchange (including a prominent director, Dr. Hassan Mahmud); Financial Policy and Regulation and Procurement and Support Services (all service coordinators in the PSSD who predominantly can be found in the state branches were laid-off on Friday). 

Minister Of Agriculture Proposes New National Policy On Apiculture

The Minister of State for Agriculture and Food Security, Senator Sabi Abdullahi has hinted at a new national policy to revitalize the apiculture subsector to achieve its potential. This is just as the Minister lamented the untapped honey industry which he said the inclusion of the youth will help drive the industry which will contribute massively to the country’s Gross Domestic Product (GDP).

IPOB To EEDC, Leave Or Provide Power

The Indigenous People of Biafra has threatened Enugu Electricity Distribution Company, EEDC, to provide electricity or exit the region for reliable supplier. 

FG, Labour To Continue Wage Negotiation

The Tripartite Committee on Minimum Wage will continue sittings to further negotiate a reasonable minimum wage for workers on Tuesday, May 23.

NERC Unbundles TCN, Establishes NISO

The Nigerian Electricity Regulatory Commission (NERC), has unbundled the Transmission Company of Nigeria (TCN) with the establishment of the Nigerian Independent System Operator of Nigeria Limited (NISO). The company disclosed this in an order signed by its Chairman, Mr Sanusi Garba and Mr Muslim Oseni, Vice Chairman in Abuja on Saturday.

Data Base: 2m Accounts Closed over BVN, NIN

Nigerian banks have closed 2.021 million bank accounts in the first quarter of 2024, Q1’24, to clean their books of questionable accounts and comply with regulatory orders on the linkage of bank accounts to the National Identity Number, NIN.

Stop Electricity Subsidy, IMF To FG, As Labour Begins Protest

The International Monetary Fund, IMF, has cautioned the Nigerian government to phase out costly and regressive energy subsidies as it is critical to creating fiscal space for development spending and strengthening social protection while maintaining debt sustainability.

NNPCL Opens Up Reserves To Subdue Scarcity

Normalcy is gradually returning to the supply and distribution chain of Premium Motor Spirit (PMS) or petrol, following the scarcity of the product in the last three weeks. The Nigerian National Petroleum Company Limited (NNPCL) blamed the development on “logistics” issues. The improved petrol supply across the country, The Nation gathered yesterday, was not unconnected with the opening up of reserves by the NNPCL for supply to the marketers.

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