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Democracy Day: We’ve negotiated with labour on minimum wage – Tinubu
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 said he understood the economic difficulties the country faced as a nation, but asked Nigerians to commit to the fulfilment of the realisation of “our economic democracy.”
Alhaji Bukar Goni Aji-led 37-member Tripartite Committee on National Minimum Wage on Monday submitted its report after about five months of sittings.
Representatives of the federal government and the private sector in the tripartite committee for the negotiation of new minimum wage proposed N62, 000, while the organised labour scaled down from N494,000 to N250,000.With the submission of the report, the president is expected to make a decision and send an executive bill to the National Assembly to pass a new minimum wage bill, which the president will then sign into law.
While speaking today, President Tinubu said the economic reforms initiated were necessary repairs required to fix the economy over the long run so that everyone had access to economic opportunity, fair play and compensation for their endeavour and labour.
Tinubu said, “Our economy has been in desperate need of reform for decades. It has been unbalanced because it was built on the flawed foundation of over-reliance on revenues from the exploitation of oil.
“The reforms we have initiated are intended to create a stronger, better foundation for future growth. There is no doubt the reforms have occasioned hardship, yet they are necessary repairs required to fix the economy over the long-run so that everyone has access to economic opportunity, fair play and compensation for his endeavour and labour. As we continue to reform the economy, I shall always listen to the people and will never turn my back on you.
“In this spirit, we have negotiated in good faith and with open arms with organised labour on a new national minimum wage. We shall soon send an executive bill to the National Assembly to enshrine what has been agreed upon as part of our law for the next five years or less.
“In the face of labour’s call for a national strike, we did not seek to oppress or crack down on the workers as a dictatorial government would have done. We chose the path of cooperation over conflict. No one was arrested or threatened. Instead, the labour leadership was invited to break bread and negotiate towards a good-faith resolution.
“Reasoned discussion and principled compromise are hallmarks of democracy. These themes shall continue to animate my policies and interaction with the constituent parts of our political economy.”
President Tinubu pledged to protect the country’s democracy at all cost, adding that he would also do his utmost best to “protect your rights, freedoms and liberties as citizens of Nigeria.”
The president reminded Nigerians that no matter how complicated democracy was: “It is the best form of governance in the long run,” adding that, “We must also be aware that there are those among us who will try to exploit current challenges to undermine, if not destroy, this democracy for which so much has already been given.”
Tinubu, who went down memory lane, said during the struggle for democracy, the country lost great heroes and heroines.He said the winner of the June 12, 1993, presidential election, Chief MKO Abiola, his wife, Kudirat, General Shehu Musa Yar’Adua and Pa Alfred Rewane, among others, sacrificed their lives, stressing that they surrendered their futures so that our nation might have a better one.
The president said what democracy demanded “is that we do not resolve differences through force and repression. But we make allowance for the legitimacy of views that differ from our own.”
A former Vice President, Atiku Abubakar, has paid glowing tributes to late Basorun MKO Abiola, his late wife, Alhaja Kudirat Abiola, late Shehu Yar’Adua, late Alfred Rewane, among others, for their efforts towards the entrenchment of democracy in Nigeria.
Atiku, in his Democracy Day message to Nigerians, said the secondary purpose of declaring every June 12 as Democracy Day in Nigeria was to commemorate the history of “our long journey of becoming a stable democratic country.”
The PDP presidential candidate in the last elections, who noted that, “There’s no substitute to democracy as a form of government,” blamed the opposition politicians for lack of unity to rescue the country from the ruling party.
He said, “The ruling All Progressives Congress is to blame for bringing forth this dawn of gloom.“But the opposition political parties are even guiltier than the ruling party for the seeming lack of capacity to come together and galvanise a coalition that will retire the ruling party and articulate a plan of good governance that will earn the conviction of Nigerians.
“Today, the failings of the opposition parties to uphold the functionality of their existence is the major threat to our democracy. The earlier they realise that the fortunes of Nigeria lies in their forging a coalition, the better it will be for our country and the people.”
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ZENITH BANK CHAMPIONS ENVIRONMENTAL SUSTAINABILITY WITH TWO-PHASE CLEAN-UP IN LAGOS
In line with its commitment to environmental sustainability and responsible business practices, Zenith Bank Plc has commemorated the 2026 World Environment Day with a two-phase environmental clean-up initiative in Lagos State, held under the global theme “Inspired by Nature. For Climate. For Our Future.”
The first phase was a morning clean-up conducted by staff of the Bank on Wednesday, 3 June 2026, along Ajose Adeogun Street, Victoria Island, Lagos. The exercise mobilised employees to clear waste, sensitise residents on proper disposal practices, and reinforce the Bank’s culture of community service and environmental stewardship.
The second phase, on Thursday, 4 June 2026, featured a waterways clean-up at the Falomo Waterways, Ikoyi, Lagos, executed in collaboration with the Lagos Waste Management Authority (LAWMA) and the Lagos State Waterways Authority (LASWA). The joint effort focused on removing marine debris, promoting cleaner waterways, and supporting the State’s broader climate-resilience agenda.
Speaking on the initiative, Dame Dr. Adaora Umeoji, OON, Group Managing Director/CEO of Zenith Bank Plc, said: “At Zenith Bank, sustainability is integral to how we operate. Clearing our streets and our waterways is a practical reminder that protecting the environment is a shared responsibility – and one we are proud to take up alongside LAWMA and LASWA. Through these exercises, we are taking deliberate action to preserve our communities, support climate action, and inspire others to act. Our operations will continue to align with global environmental standards as we build a more sustainable future for Nigeria and Africa.”Zenith Bank remains committed to embedding Environmental, Social and Governance (ESG) principles across its operations, investing in green initiatives, energy efficiency, and community-focused programmes. These efforts advance the United Nations Sustainable Development Goals – particularly SDG 7 (Affordable and Clean Energy), SDG 11 (Sustainable Cities and Communities) and SDG 13 (Climate Action). Sustainability remains an operational imperative across the Bank’s Nigerian base and its broader African, UK and European footprints.
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ZENITH BANK APPOINTS ENGR. MUSTAFA BELLO AS CHAIRMAN AT ANNUAL GENERAL MEETING
Zenith Bank Plc has announced the appointment of Engr. Mustafa Bello as the Chairman of its Board of Directors. The appointment, which takes immediate effect, has been approved by the Central Bank of Nigeria (CBN) and ratified by shareholders at the Annual General Meeting held on May 5, 2026.
Engr. Bello’s appointment represents a strategic step to ensure the continuity, stability, and sustained effectiveness of the Board, while reinforcing the high standards of corporate governance, regulatory compliance, and strategic oversight for which Zenith Bank is widely respected. He joined the Board of Zenith Bank Plc on 29 December 2017 and has served on several Board committees, including the Board Audit and Compliance Committee, Board Governance, Nomination and Renumeration Committee and as Chairman of the Board Risk Management Committee until his appointment as Chairman of the Board of Directors.
He has extensive leadership experience at Board and executive levels, a strong understanding of corporate governance principles and regulatory expectations, and a proven track record in strategic oversight and organisational growth. He has consistently demonstrated integrity, independence and sound judgement, qualities that distinguished him as the natural choice to lead the Board into its next chapter.
Engr. Mustafa Bello is a distinguished engineer, statesman and corporate leader. His career spans more than four decades across the public and private sectors of the Nigerian economy. He served as Minister of Commerce of the Federal Republic of Nigeria from 1999 to 2002 under President Olusegun Obasanjo, GCFR, where he led the development of Nigeria’s WTO-consistent Trade Policy. He also oversaw the Corporate Affairs Commission (CAC) online project of 2002, which modernised the way businesses register and operate in the country. From November 2003 to February 2014, he served as Executive Secretary and Chief Executive Officer of the Nigerian Investments Promotion Commission (NIPC), where he was instrumental in attracting foreign direct investment into Nigeria, building multilateral and bilateral partnerships, and representing the Federal Government at international conferences and missions.
He graduated from Ahmadu Bello University (ABU), Zaria, in 1978 with a B.Engr. in Civil Engineering (Second Class Upper Division), winning the Shell Prize for the best project and thesis in the Faculty of Engineering. He began his career with the Nigerian Army’s Directorate of Quartering and Engineering Service from 1978 to 1979, before joining the Niger State Housing Corporation as a Senior Civil Engineer from 1980 to 1983.
He is currently the Chairman of Invest-in-Northern Nigeria Limited, a special purpose vehicle for the economic and social transformation of the Northern Nigerian economy, and has previously served on the boards of Eskom Holdings Limited of the Republic of South Africa (2004 to 2008) and FrieslandCampina WAMCO Nigeria Plc as an Independent Non-Executive Director. He is a Fellow of the Nigerian Society of Engineers and a Registered Member of Council for the Regulation of Engineering in Nigeria (COREN) as well as Fellow of the Academy of Natural Sciences & Engineering in Nigeria (ANSEN).Zenith Bank stands among Africa’s leading financial institutions, with a strong capital base and operations across Nigeria, the United Kingdom, the United Arab Emirates, Ghana, Sierra Leone, The Gambia and Côte d’Ivoire.
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FirstBank Confirms Appointment of Olayinka Ijabiyi as Group Head, Marketing and Corporate Communications
FirstBank, West Africa’s premier financial institution and financial inclusion service provider, has confirmed the appointment of Olayinka Ijabiyi as the substantive Group Head, Marketing and Corporate Communications. The appointment takes immediate effect and reinforces strong corporate governance at a pivotal point in the Bank’s growth and transformation journey.
Olayinka Thomas Ijabiyi is a seasoned marketing and corporate communications professional with over 25 years of experience driving brand transformation, strategic visibility, and stakeholder engagement across financial services, telecommunications, media, and international development sectors.
Ijabiyi joined FirstBank in 2011 and has served in acting capacity as the Group Head of Marketing and Corporate Communications from December 2024 until his recent confirmation. In his role, he leads the development and execution of integrated marketing and corporate communications strategies across the Group’s markets. He oversees brand and reputation management, executive positioning, Corporate Responsibility and Sustainability as well as strategic communications initiatives aligned to the Bank’s business objectives/aspirations.
Prior to his current role, Ijabiyi has held leadership positions within the Marketing and Corporate Communications Department in FirstBank, including Head Brand Strategy and Special Projects, Head Digital Marketing and Head Brand and Stakeholder Management.
Before joining FirstBank, Ijabiyi built a diverse career across leading organizations including British Council, Multichoice, MTN and Etisalat Nigeria, where he played key roles in brand building, corporate communications and digital transformation initiatives.
Widely recognized for his strategic mindset, leadership ability to translate business objectives into impactful marketing and communications strategies, he has successfully led major brand initiatives, including milestone anniversary campaigns and brand refresh programs, while consistently delivering efficiencies and enhancing brand equity.
Ijabiyi holds a Master’s degree in Public and International Affairs from the University of Lagos and a Bachelor’s degree in English Language from the former Ondo State University, Ado Ekiti. He is a Fellow of the National Institute of Marketing of Nigeria (NIMN) and a member of the Nigerian Institute of Public Relations (NIPR), amongst other industry bodies.
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