Connect with us

News

Money bouquet now form of naira abuse, says CBN

Published

on

The Central Bank of Nigeria (CBN), says money bouquet is now a form of naira abuse.

The apex bank made this known in a tweet on Friday, while creating awareness on actions that constitute abuse on the currency.

It said other forms of naira abuse include; spraying, selling, squeezing, and defacing.

The CBN further admonished Nigerians to report cases of naira abuse in the country.

“It is your civic duty to protect the Naira,” the apex bank said.

Last week, the CBN said it would begin to prosecute abusers of the naira in collaboration with other regulatory and law enforcement agencies such actions violate the law.

The agencies include the Nigeria Police Force (NPF), Federal Inland Revenue Service (FIRS), the Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU).

Section 21 (3) of the CBN act 2007 (as amended) stipulates that “spraying of, dancing or matching on the naira or any note issued by the bank during social occasions or otherwise howsoever shall constitute an abuse and defacing of the naira or such note and shall be punishable under the law by fines or imprisonment or both”.

Similarly, section 21 (4) states that “it shall also be an offence punishable under sub-section (1) of this section for any person to hawk, sell or otherwise trade in the naira notes, coins or any other note issued by the bank”.

Therefore, the apex bank warned Nigerians, particularly those at social functions, to desist from disrespecting the naira or risk being arrested by law enforcement agencies.

News

Lagos speaker, Obasa, loses father

Published

on

By

The Speaker of the Lagos State House of Assembly, Mudashiru Obasa, has lost his father, Alhaji Sulaiman Obasa.

It was learnt that Obasa died on Tuesday morning.

Confirming his demise, the Secretary of the Orile Agege Local Council Development Area chapter of the All Progressives Congress, who doubles as the Special Adviser to the Speaker on Political and Legislative Affairs, Fatai Olagoke Ajibola, in a statement on Tuesday, said the late Obasa would be buried today according to Islamic rites.

“Late Alhaji Obasa will be buried this evening (Tuesday) in accordance with Islamic injunctions.

“The venue of the Janazah prayer will be communicated in due course,” Ajibola added.

Continue Reading

News

Police begin 24-hour motorbike patrol of Third Mainland Bridge

Published

on

By

The police Rapid Response Squad (RRS) in Lagos has commenced a 24-hour patrol of the Third Mainland Bridge as a way of protecting the infrastructure.

On Monday, Olayinka Egbeyemi, commander of the RRS, directed the squad’s bike riders to commence a daily patrol of the bridge to prevent harassment of road users and vandalism.

“This is in line with the directives of the commissioner of police, CP Adegoke Fayoade, to the squad for the protection of lives, property and public infrastructure on the newly renovated bridge,” Egbeyemi said.

The RRS commander said motorists and road users should cooperate with motorcycle cops so that they can serve them better.

The 11.8km Third Mainland Bridge was recently given a facelift.

Theft of electrical installations and other fittings on the bridge are rife and have persisted for decades.

Earlier this month, the Lagos State Neighbourhood Safety Corps (LNSC) arrested one Friday Nwafor for vandalising and stealing road light indicators on the newly renovated bridge.

The Lagos police command had also arrested four suspects for stealing armoured cables on the bridge.

Continue Reading

News

Labour gives FG May 31 ultimatum to reverse electricity tariff hike

Published

on

By

The Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) have given the federal government until May 31 to reverse the electricity tariff.

The labour bodies gave the ultimatum in a communiqué issued in Abuja on Monday at the end of a joint emergency national executive council (NEC) meeting of the NLC and TUC.

On April 3, the National Electricity Regulatory Commission (NERC) approved an increase in the electricity tariff for customers in the Band A classification—from N66 to N225 per kwh.

The tariff hike attracted public outcry and calls for its reversal.

On May 13, members of organised labour picketed the headquarters of the NERC, the federal ministry of power, and the Abuja Electricity Distribution Company (AEDC) in Abuja, demanding a reversal of the tariff.

The protest was replicated across Nigeria.

In the communiqué, the unions said the action taken by the government without consideration for the hardship of the masses was “unjust and burdensome”.

“The NEC once again vehemently condemns the unilateral increase in electricity tariffs by the authorities,” the communiqué reads.

“This action, taken without due consideration for the economic hardships faced by the masses and the provisions of the law, is deemed unjust and burdensome.

“The NEC reaffirms its demands for an immediate reversal of the tariff hike and the vexatious apartheid categorization into bands to alleviate the suffering of Nigerian workers and citizens and gives the National Electricity Regulatory Commission and the federal government until the last day of May 2024 to meet these demands.”

The organised labour said appropriate actions would be taken if the government failed to meet its demands.

“This includes, but is not limited to, the mobilisation of workers for peaceful protests and industrial actions to press home these demands for social justice and workers’ rights,” the unions said.

The labour unions also reiterated the May 31 ultimatum for the federal government to finalise the new national minimum wage fixing process for workers.

“We need an agreement that will genuinely reflect the true value of Nigerian workers’ contributions to the nation’s development and the current crisis of survival facing Nigerians as a result of government’s policies,” the labour movement added.

“The NEC affirms its commitment to ensuring that the interests and welfare of workers are adequately protected in the negotiation process.

“The NEC-in-session therefore reiterates the ultimatum issued by the NLC and TUC to the federal government, which expires on the last day of this month.”

The organised labour directed all councils whose state governments are yet to fully implement the N30,000 national minimum wage and its consequential adjustments to “immediately issue a joint two-week ultimatum to the culpable state governments to avert industrial action”.

Continue Reading

Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

Most Read...