Breakthrough in 2024 Base Pay Negotiations: Government and Labor Unions Reach Agreement” As inflation and VAT rates surge, Public Sector workers feel the squeeze on the Cost of Living, prompting negotiations for a salary increase. The 2024 base pay discussions kicked off, revealing stark differences between the government and labor unions. The outcome of these […]
Yesterday marked the start of 2023 base pay negotiations, as the government engaged with labor union representatives to discuss the base pay for 2024. In a crucial turn, the government’s initial 10% base pay increase offer has risen to 15%, aligning with projections of a 15% inflation decrease by the end of 2024. On the […]
Dangote Still Richest Man In Africa With $15.6bn – Bloomberg Aliko Dangote, president of Dangote Group remains the richest man in Africa, despite the volatility of Nigerian currency against the dollar. Bloomberg in its daily top billionaire lists, released on Tuesday, revealed that Dangote with a wealth of $15.6 billion topped other Africans in the […]
5 African Banks Embrace Seamless Cross-border Trade Payments Five banks on the African continent have embraced the Pan-African Payment and Settlement System (PAPSS) for seamless cross-border trade payments. To this end, PAPSS has signed Memorandums of Understanding (MOUs) with Access Bank Group, Ecobank Group, KCB Group, Standard Bank Group, and UBA Group. These significant partnerships […]
Naira Now Undervalued After Free Float – Bank Of America The Bank of America (BoA) has said the it sees the value of the naira settling at N680 to the dollar by the end of the year, saying that the currency has moved from overvalued to being undervalued following the government’s recent foreign exchange reform. […]
Oil revenue crash pushes FG’s deficit to N513bn in February ..It is 16% below budget benchmark —CBN …Non-oil revenue declines also …As Federation Account revenue drops 32% The Federal Government’s fiscal operations in the early part of this year have resulted into a 22.8 per cent rise in deficit spending in February 2023. The development […]
PPI: Nigeria’s next administration, Siemens to review agreement — Investigation •Eight power transformers trapped at Lagos port THERE were strong indications, yesterday, that Nigeria’s next administration and Siemens Energy will have to review the agreement governing the implementation of the nation’s Presidential Power Initiative, PPI, as it has become impossible to complete the project under the current plan. Under […]
Nigeria, others in G-24 call for reforms in World Bank supports systems The intergovernmental group of twenty-four (G-24) on international monetary affairs and development has expressed their concerns over some of the measures undertaken by the World Bank Group, WBG, in addressing the post COVID economic, financial and development challenges of the low and middle […]
Musk announces ‘final date’ for removing free Twitter verification Elon Musk, the tech mogul and CEO of Tesla and SpaceX, recently took to Twitter to make a surprising announcement regarding Twitter verification. In a tweet that caught the attention of his millions of followers, Musk revealed what he called the “final date” for removing free […]
SPORTYBET ANNOUNCES REGIONAL PARTNERSHIP WITH MANCHESTER CITY SportyBet, the most innovative betting platform in Africa has today announced a regional partnership with Manchester City SportyBet will become the Club’s Official Betting Partner in Africa. SportyBet has today announced a regional partnership with Manchester City. The agreement will see SportyBet become the Club’s Official Betting Partner in […]
