Ekiti Government Approves N70,000 Minimum Wage
Ekiti State Governor, Biodun Oyebanji, on Monday, announced that his government has approved the payment of N70,000 new minimum wage for Ekiti State workers…
Finance
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2025 Budget: Governor Oyebanji Presents N375.79 Billion to Ekiti State Assembly
Governor Biodun Oyebanji of Ekiti State has presented a budget of N375.79 to the State House of Assembly for the year 2025.
First Bank Notifies Vendors of Plans to Transition to New Banking Platform from October 26
First Bank notifies vendors of its plan to migrate to a new procurement platform from October 26…
October 2024: FAAC Shares N1.298 Trillion September Revenue For FG, States And LGAs
September 2024 Allocation: Fed Govt, States, LGAs share N1.298trillion Fed Govt got N424.867 billion States got N453.724 billion LGAs got N329.864 billion Oil producing states got N90.415 billion as 13% derivation The Federation Accounts Allocation Committee (FAAC) has shared N1.298 trillion to the Federal, State and Local Governments as revenue for September 2024. This…
Abia to begin payment of new minimum wage in October
The Abia State Government has stated that it will commence payment of the new minimum wage from October. The state Commissioner for Information, Okey Kanu, disclosed this on Monday while briefing the press on the outcome of the week’s State Executive Council meeting chaired by the state governor, Alex Otti. He stated the payment, “will…
Private employers that pay employees less than N70K may face imprisonment- FGN
The Federal Government has issued a serious warning to private-sector employers, emphasizing that offering wages below the newly set minimum of N70,000 could result in imprisonment. During the 13th Annual General Meeting of the Employers Association for Private Employment Agencies of Nigeria, which took place in Ikeja, Lagos, the Permanent Secretary of the Ministry of…
September 2024 : FAAC Shares N1.203 Trillion August Revenue for FG, States and LGAs
A total sum of N1.203 trillion from the Federation Accounts Revenue (August 2024) was distributed among the Federal Government, States, and Local Government Councils across Nigeria. This was revealed by Bawa Mokwa, the Director of Press and Public Relations at the Office of the Accountant General of the Federation (OAGF), during the September 2024 Federation…
President Tinubu Approves N108 Billion For State Governments To Address Natural Disasters
President Bola Ahmed Tinubu approved the allocation of N108 billion to support the states in addressing natural disasters, with each state receiving N3 billion to aid their efforts. Borno State Governor, Babagana Umara Zulum, whose capital city, Maiduguri, is currently suffering from severe flooding due to the failure of the Alau Dam water channels,…
NELFUND: 20,371 Students Receive N20k Monthly Upkeep for July
NELFUND Student Loan, 20,371 Students Receive Alert of N20,000 Monthly Upkeep for July The Management of the Nigerian Education Loan Fund (NELFUND) under the leadership of Mr Akintunde Sawyerr, the Managing Director has announced the successful disbursement of N20,000.00 monthly stipends for the month of July to 20,371 students from six tertiary institutions. This was…
NELFUND Disburses N2.5b Student Loan Across Nigerian Tertiary Institutions
NELFUND Continues Student Loan Disbursements Across Nigerian Tertiary Institutions The Nigerian Education Loan Fund (NELFUND), in alignment with President Bola Ahmed Tinubu’s commitment to enhancing educational opportunities for Nigerians, has continued the disbursement of substantial student loans to institutions and students nationwide. In In the light of the foregoing, NELFUND has so far further approved…
CREDICORP: UPDATE ON CONSUMER CREDIT SCHEME
UPDATE ON CONSUMER CREDIT SCHEME The consumer credit scheme is another frontline policy of President Bola Ahmed Tinubu that seeks to improve the standard of living of Nigerians by providing easy access to credit for everyone regardless of societal class. The scheme will help to facilitate vital investments like housing, transportation, education, and healthcare, crucial…
N70k Minimum Wage: Kwara Sets to Commence Payment, Inaugurates Committee for Consequential Adjustment
Kwara Sets to Commence Payment N70,000 minimum wage, Inaugurates Committee for Consequential Adjustment. Kwara State Governor AbdulRahman AbdulRazaq has approved the constitution of a tripartite committee to work out the consequential adjustment component for other categories of workers. According to the Chief Press Secretary to Kwara Governor, Rafiu Ajakaye, this comes as a new national…
Next-of-kin, legal representatives can claim unclaimed balance on dormant account- CBN
The CBN has allowed next-of-kin, legal representatives, or beneficial owners to claim unclaimed balances in dormant accounts. The CBN clarified this in a report released over the weekend. It stated that next-of-kin can now claim unclaimed funds by submitting applications to financial institutions.These applications must include legal proof of title & for corporate entities, details…
President Tinubu Signs N70,000 Minimum Wage Bill Into Law
President Tinubu signs N70,000 Wage Bill into law. President Bola Ahmed Tinubu on Monday, July 29, 2024, signed the new Minimum Wage Bill of N70,000 into law. According to the Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, Mr President signed the bill midway into the Federal Executive Council meeting. Head…