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December 2, 2024 CBN to Retire 1,000 Employees by December 2024, Introduces ₦50bn Exit Plan
IFMNEWS

CBN to Retire 1,000 Employees by December 2024, Introduces ₦50bn Exit Plan

The Central Bank of Nigeria (CBN) is reportedly set to retire approximately 1,000 employees by December 31, 2024, as part of a workforce realignment strategy. According to a report by the Daily Trust, the exercise is expected to cost the apex bank ₦50 billion.

Under the leadership of Governor Olayemi Cardoso, the CBN has described the move as a strategic step to optimize its operations. This follows a series of staff disengagements in recent months, including the exit of 17 directors who served under former governor Godwin Emefiele.

A circular released three weeks ago outlined details of the Early Exit Package (EPP), which is open to all staff cadres except those who are yet to be confirmed or have served less than one year as of the date of the announcement. Applications for the package are set to close on Saturday, December 7, 2024, with the effective date of exit being December 31, 2024.

The circular also noted that financial incentives under the package would cover the remaining service period, up to a maximum of 18 months of gross annual emoluments for current grades.

Despite the report, the CBN has not yet made an official statement regarding the planned retirements or the details of the severance plan.

 

December 2, 2024 Fire Destroys Market in Trademore Estate, Abuja
IFMNEWS

Fire Destroys Market in Trademore Estate, Abuja

An early morning fire has destroyed the only market in Trademore Estate, Lugbe, Abuja.

The blaze reportedly started around 3:30 am, shortly after the Abuja Electric Distribution Company (AEDC) restored power to the area. The exact cause of the fire remains unknown at this time.

Details about the extent of the damage and the items destroyed in the inferno were not available as of the time of filing this report.

It took about two hours for firefighters from the Federal Fire Service, including teams from the EFCC and Sauka stations, to bring the fire under control.

Further investigations are expected to shed light on the cause and full impact of the incident.

 

December 1, 2024 Lagos Government Declares No Ban on Sachet Water
IFMNEWS

Lagos Government Declares No Ban on Sachet Water

The Lagos State Government has dismissed rumors of a ban on sachet water within the state.

Tokunbo Wahab, the Commissioner for Environment and Water Resources, clarified the situation on Sunday through a statement shared on his official X account. His response followed the circulation of a viral video depicting enforcement officers destroying packs of sachet water at various locations in Lagos.

Addressing the issue, Wahab explained that the officers in the video were from the National Agency for Food and Drug Administration and Control (NAFDAC). He stated that their actions were part of a lawful operation to remove unregistered and unsafe products from the market, prioritizing public health and safety.

“My attention has been drawn to a viral video showing individuals bursting sachet water packs at factories and on buses,” Wahab wrote. “I wish to categorically state that these individuals are not enforcement officers from any Lagos State Government agency or the Ministry of Environment and Water Resources.”

He further clarified: “Upon investigation, it was confirmed that the individuals in question are enforcement officers from NAFDAC. Their actions are part of an enforcement exercise targeting sachet water that does not comply with NAFDAC regulations, undertaken in the interest of public health and safety.”

Wahab reassured Lagos residents that the state government has not imposed any ban on sachet water and has no plans to do so. Instead, he emphasized the government’s focus on improving plastic waste management across the state.

“As part of our commitment to sustainability, we are implementing mandatory Extended Producer Responsibility (EPR) for manufacturers of polythene terephthalate (PET) products, sachets, and carrier bags with a thickness of no less than 40 microns,” he added.

This clarification aims to dispel misinformation and highlight Lagos State’s ongoing efforts toward environmental conservation and public health.

November 29, 2024 Osun State Set to Implement New Minimum Wage Starting December 1
IFMNEWS

Osun State Set to Implement New Minimum Wage Starting December 1

The Osun State Government has announced that the new minimum wage of N75,554.20 for civil servants will take effect from December 1, 2024. This follows the successful conclusion of negotiations between the state government and labor unions.

In addition to the minimum wage increase, the government has approved a uniform N25,000 increase for all pensioners. Arrears for the minimum wage will be paid alongside November salaries for workers.

During the official signing of the agreement, Osun’s Commissioner for Information and Public Enlightenment, Kolapo Alimi, emphasized that this decision reflects Governor Ademola Adeleke’s dedication to ensuring a satisfied and motivated workforce. Alimi remarked, “This move highlights the Adeleke administration’s focus on worker welfare and the well-being of retirees.”

The ceremony was attended by the state chairpersons of the Trade Union Congress and the Nigeria Labour Congress, Abimbola Fasasi and Christopher Arapasopo. Osun’s Deputy Governor, Kola Adewusi, commended the peaceful resolution of the negotiations and praised Adeleke’s leadership, which he said had gone above and beyond expectations. He urged workers to respond by enhancing service delivery and productivity across the state.

A circular issued on November 29, 2024, by the Head of Service, Ayanleye Aina, provided further details on the wage adjustment. It stated that the N25,000 pension increase reflects the government’s sensitivity to the needs of senior citizens and its commitment to resolving outstanding pension issues.

The circular also noted that the wage hike was the result of “exhaustive negotiations” between the government and labor unions, with consideration given to factors such as state revenue, debt obligations, and economic sustainability. It confirmed that the new wage will take effect on December 1, 2024, with arrears to be paid for one month, and stated that other salary structures will be addressed in the future.

The government has called on all public servants, including local government workers, to show renewed commitment to service delivery and contribute to Osun State’s ongoing development.

 

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