President Bola Ahmed Tinubu has said that his administration will soon send an executive bill to the National Assembly to enshrine what has been agreed upon as a new national minimum wage as part of “our law” for the next five years or less. In his national broadcast today on the 25th anniversary of unbroken democracy in Nigeria, the president ...

A group of lawmakers in the House of Representatives are seeking alterations to the 1999 Constitution to pave the way for the rotation of the Presidency among the six geo-political zones of the country. They also want an amendment to the Constitution to provide for “A single tenure of six years for the President and Governors of the Federal Republic ...

Fitch Ratings has revised the outlook on Fidelity Bank PLC’s LongTerm Issuer Default Rating (IDR) to Positive from Stable, while affirming the rating at ‘B-‘. The credit rating agency has also affirmed Fidelity Bank’s National Long-Term Rating at ‘A(nga)’ with a Stable Outlook. In a statement released on Friday, Fitch said that the outlook revision reflects its, “expectations that the ...

During the national minimum wage tripartite committee meeting, the Federal government and Organised Private Sector proposed a new wage of N62,000. However, Organised Labour rejected this offer, insisting on N250,000. Speaking on behalf of Governors, Imo’s Hope Uzodinma, said: “The organised private sector and the Federal Government have agreed on N62,000 while the organised labour is asking for N250,000. “At ...

Nigeria’s premier financial institution and financial inclusion services provider, First Bank has bagged two awards: Best SME Bank in Africa and Best SME Bank in Nigeria at the highly converted Asian Banker Global Excellence Retail Awards 2024. The Excellence in Retail Finance Awards Programme, which includes the Global Excellence in Retail Finance Awards and The Annual Digital Bank Awards, is ...

The Nigeria Labour Congress (NLC) has refuted claims made by Senate President Godswill Akpabio that the recent indefinite nationwide strike embarked upon by organised labour constitutes economic sabotage. The organised labour comprising the NLC and Trade Union Congress (TUC) on June 3 embarked on the strike action “in response to the federal government’s refusal to conclude the national minimum wage ...

Zenith Bank Plc has been named the “Most Sustainable Bank, Nigeria” in the International Banker 2024 Banking Awards, retaining the title for the second consecutive year. Commenting on the award, the Group Managing Director/Chief Executive Officer of Zenith Bank, Dame (Dr.) Adaora Umeoji, OON, said: “We are deeply honoured to be recognised as the Most Sustainable Bank in Nigeria for ...

The meeting between the leadership of the National Assembly, the Executive Arm of government, the Organised Labour, the Nigeria Labour Congress, NLC, has ended in deadlock after four hours. This was the outcome of the meeting between the National Assembly leadership, the Executive Arm of government and the organised Labour, initiated to avert the proposed national strike. The meeting was ...

The leadership of the National Assembly is meeting with the organised labour in Abuja in a bid to avert an imminent indefinite strike by the labour unions. This was disclosed in a statement jointly signed by the spokespersons of the Senate and the House of Representatives, Senator Yemi Adaramodu and Rep. Akin Rotimi, Jr on Sunday. The meeting currently held ...

FBN Holdings Plc declared N238.53 billion profit before tax (PBT) in its unaudited first quarter (Q1) ended March 31, 2024 results, which was about 325.2percent growth from the N56.1 billion reported in Q1 ended March 31, 2023. The Q1 2024 results was a reflection of 2023 impressive performance as one of the oldest banks in Nigeria sustained its fundamentals amid ...