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May 15, 2024 Emefiele Faces Charges for Allegedly Printing N684m Notes with N18.96bn, Pleads Not Guilty

Emefiele Faces Charges for Allegedly Printing N684m Notes with N18.96bn, Pleads Not Guilty

The Economic and Financial Crimes Commission (EFCC) arraigned former Central Bank of Nigeria (CBN) Governor Godwin Emefiele on Wednesday for allegedly approving the printing of N684.5 million worth of notes, valued at N18.96 billion.

Emefiele appeared before Justice MaryAnn Anenih of the Federal Capital Territory High Court on four charges and entered a plea of not guilty to all counts. His lawyer, Mahmud Magaji, requested bail on self-recognition, similar to the terms granted by another court led by Justice Hamza Muazu. Magaji assured Emefiele's presence during the trial.

Justice Anenih granted bail at N300 million, requiring two Nigerian residents with property in Maitama district to file an affidavit of means. Emefiele must surrender his travel documents and obtain court permission for international travel. Pending fulfillment of bail conditions, he was remanded at Kuje Correctional Center.

READ ALSO: Lagos Court Grants Emefiele N50m Bail

The trial is set to commence on May 28th and 29th. The EFCC alleged Emefiele violated the law by approving the printing of currency notes without proper procedures, and unlawfully withdrew N124.8 billion from the Consolidated Revenue Fund. This is the third case against Emefiele; previously, he faced charges of procurement fraud and abuse of office.

May 15, 2024 NiMET Set to Commence Strike on Monday Over Unsettled Arrears

NiMET Set to Commence Strike on Monday Over Unsettled Arrears

Aviation unions, including the National Union of Air Transport Employees Association of Nigeria, the Association of Nigerian Aviation Professionals, and the Amalgamated Union of Public Corporations and Technical and Recreational Employees, have directed staff members of the Nigeria Meteorology Agency to commence strike action on Monday, May 20, 2024.

This directive was outlined in a letter dated May 14, 2024, obtained by our correspondent on Wednesday. The strike action is a result of the management's failure to address 45 months of minimum wage arrears and consequential adjustments for staff members. The union, represented by the three General Secretaries: Ocheme Aba, Abdulrasaq Seidu, and Waheed Sikiru, addressed a letter to NiMET’s Director General, Prof Charles Anoske, with the subject line ‘Re: Failure to Pay 45-Month Arrears of Minimum Wage Consequential Adjustment—14 days ultimatum.’

Despite the issuance of an ultimatum, management responded with a proposal to pay off the 45 months of arrears in installments. They also expressed disappointment that the agency’s staff has yet to receive palliative payments sanctioned by the Federal Government since October 2023. Additionally, they highlighted that the 25-35 percent salary increase has not been implemented for them, and NiMET has been excluded from receiving Peculiar Allowances. “Furthermore, our Unions through a joint letter dated April 4, 2024, did request a review of the outdated conditions of service. To date, the management has not responded to our union's request,” it read.

The letter further states, “The above catalog of woes, and others unmentioned confirm that NiMET Staff have been subjected to abject poverty – worse than any existing aviation establishment. In our considered view, it is inhuman on the part of management to allow these conditions, and irresponsible on the part of unions to tolerate this situation for this long.

“Therefore, this letter serves as notice to the management of NiMET that the staff members of the agency are, by a copy of this letter, directed to withdraw all services with effect from Monday, May 20, 2024, unless and until the outstanding 42 months arrears of consequential adjustment are fully paid off. “NiMET Salary structure is adapted to an appropriate Federal Government approved structure and all accruable payments liquidated, Management commences review of the outdated CoS with our Unions with a definite timeline for delivery and actualization.”

May 14, 2024 NLC Calls for Electricity Tariff Hike Reversal, Citing Inflationary Pressure

NLC Calls for Electricity Tariff Hike Reversal, Citing Inflationary Pressure

The Nigeria Labour Congress (NLC) contends that the recent increase in electricity tariffs worsens inflation, stressing that the Nigerian Electricity Regulatory Commission (NERC) and distribution companies must promptly reverse the hike. NLC President Joe Ajaero emphasized in a Tuesday interview that tariff adjustments are influenced by inflation and currency value, a process overseen by NERC. However, he criticized the cycle of tariff increases leading to further inflation, calling for control over this trend.

On April 3, 2024, NERC raised tariffs for customers under the Band A classification, receiving 20 hours of daily power supply. These moves saw customers paying N225 per kilowatt-hour, up from N66, prompting widespread criticism given the prevailing economic challenges. In response to public outcry, NERC directed discos to reduce tariffs by 8.1% for Band A customers. Nevertheless, discontent persisted, leading to protests by the NLC and the Trade Union Congress (TUC) at NERC offices and distribution companies.

Ajaero denounced NERC's recent tariff adjustments as mere political gestures, asserting that reductions following tariff hikes are inadequate. He demanded a complete reversal of the tariff increase, urging NERC and discos to engage with labor unions and stakeholders to chart a mutually acceptable path forward.

Addressing broader concerns about the power sector, Ajaero questioned the efficacy of privatization, highlighting the absence of significant investment despite 12 years of privatization. He argued that the state should play a more active role in sectoral development to alleviate the burden on the populace.

Meanwhile, skyrocketing prices of food and essential commodities have exacerbated the economic crisis, with Nigeria's inflation rate soaring to 33.20% in March 2024. Organized labor insists that Nigerians cannot bear additional hardship amid soaring living costs, advocating for a substantial increase in the minimum wage to alleviate financial strain.

May 13, 2024 Minister Wike Acknowledges Error in Political Support: Promises Correction

Minister Wike Acknowledges Error in Political Support: Promises Correction

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, openly acknowledged his error in supporting Siminalayi Fubara as his successor as the governor of Rivers State. Speaking at an event in Ogu/Bolo Local Government Area of Rivers State on Saturday, Wike apologized to the people of the state for his misjudgment, recognizing that as a human being, he is prone to making mistakes. He assured the people that he would rectify his mistake in due course.

Wike emphasized the importance of acknowledging and learning from one's mistakes, urging forgiveness from those affected by his error in judgment. He expressed humility in admitting his fallibility and pledged to correct the situation at the right time.

Addressing recent comments made by Governor Fubara regarding his gratitude towards Wike's support, Wike clarified that he never expected anyone to worship him, as he is not divine. However, he emphasized the importance of politicians showing gratitude to those who have supported them, rather than displaying ingratitude.

The strained relationship between Governor Fubara and Wike, his former political mentor, has led to political tensions in the state. Wike's public admission of his mistake and commitment to rectify it may contribute to easing the ongoing political crisis in Rivers State.

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