Author: Opalim Lifted

British banknotes bearing the image of King Charles III entered circulation for the first time on Wednesday, nearly two years after he succeeded his mother Queen Elizabeth II. The four banknotes with the king’s portrait on the front carry values of £5 ($6.4), £10, £20 and £50 and will be used alongside those bearing the image of Elizabeth, who died in September 2022. Coins bearing Charles’s head entered circulation in December 2022. The updates come as Britons increasingly use physical and online bank cards, rather than cash, to make payments. But Bank of England governor Andrew Bailey called it “a…

A nurse, Lucy Likeh, has gone missing after visiting a park in the Federal Capital Territory to send a parcel to her friend. The 28-year-old said to be working with a private organisation at MKK Plaza in Jabi, Abuja was said to have been at Zuba Park to send a parcel to her friend in Minna, Niger State, on Friday. After she visited the park, the nurse’s whereabouts have remained unknown, and her mobile phone switched off. She was said to be wearing a black tracksuit and a black/white chiffon shirt with a fez cap when she was last seen.…

The Nigerian Deposit Insurance Corporation (NDIC) said that the payment of depositors at Heritage Bank will commence before the end of the week. The Managing Director of NDIC, Bello Hassan, disclosed this in a briefing on the liquidation of the bank in Abuja on Wednesday. The NDIC commenced the liquidation of Heritage Bank following the revocation of its banking licence by the Central Bank of Nigeria (CBN) on Monday. Hassan said the total bank deposits at heritage bank stands at N650 billion while it’s loan portfolio stands at over N700 billion. He stated that the NDIC looks forward to ensuring…

A former deputy Governor of the Central Bank of Nigeria (CBN) Kingsley Moghalu, has said the Nigerian Government can pay N500,000 as minimum wage if the country has an active production economy. Moghalu, however, said government can only pay between N75,000 to N100,000 as new minimum wage due to the lack of a production economy. This comes amid continued negotiations between organized labour and the Nigerian Government over the need to increase the low wage. Labour had called off its nationwide strike after a productive meeting with the Nigerian Government on an increase in the pay of workers. The Nigerian…

Members of the Tripartite Committee on the New National Minimum Wage on Tuesday met with President Bola Tinubu at the Presidential Villa, Abuja. The meeting comes after the suspension of the strike for five days by organised labour, comprising the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC). Chronicle NG gathered the team in the Villa to confer with President Tinubu on the next line of action following the promise to pay above N60,000 as the minimum wage. The team was also expected to brief the President on the ongoing negotiations and get his buy-in on a new…

Gunmen attacked Ohaukwu Police Division located in Ezzamgbo, headquarters of Ohaukwu Council Area of Ebonyi state. No casualties were recorded as policemen on duty were said to have gallantly fought back, and repealed the attack. However, the gunmen succeeded in burning some operational vehicles attached to the station. The gunmen, said to be 8 in number, were said to have come in a bus and started shooting, causing panic in the area. The chairman of Ohaukwu Local Government Area, Prince Ikechukwu Odono confirmed the attack. He also confirmed that no life was lost but that the attackers burnt some police…

The leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele on Tuesday said fasting and prayers won’t be able to solve the economic hardship in Nigeria because leaders are the problems of the country. Primate Ayodele said God isn’t listening to Nigerians on the issue of hardship anymore because the people elected the leaders that are now making life difficult for them. In a statement signed by his Media Aide, Oluwatosin Osho, Ayodele said Nigerians have failed to listen to the truth and God will not come down to help the country solve economic hardship if the leaders don’t do…

Many Nigerians were caught unawares by yesterday’s revocation of the license of Heritage Bank by the CBN, but among many industry operators, it was widely known that the bank has been severely distressed in the last five years. Under Godwin Emefiele, the CBN did not have the appetite to close down a bank, and so Heritage was under life support for a long time, relying mostly on borrowing from the CBN and the interbank market to support its businesses. But Yemi Cardoso is taking the apex bank in a different direction. He’s trimming the workforce, streamlining functions, and divesting it…

The Nigeria Labour Congress (NLC) has declared that it is still on strike. NLC said its organs will meet to decide on the outcome of the meeting with the Federal Government. Posting on X on Tuesday, NLC wrote: “Until we hear from Our Organs at our Meeting scheduled for today, 4th June, we are still on strike.” The Federal Government and the organised labour on Monday reached an agreement that might end the ongoing strike. The organized labour embarked on an indefinite strike on Monday to push for an improved pay package for workers. NLC, TUC leaders arrives SGF office…

The Federal Government of Nigeria has called on labour unions to continue negotiations regarding the new minimum wage. The appeal, issued by Minister of Information and National Orientation, Mohammed Idris, on Monday at a press conference in Abuja, emphasises the government’s commitment to achieving a peaceful and mutually beneficial outcome. Idris highlighted the recent efforts by both the National Assembly and the government to engage with the labour unions. He reiterated FG’s openness to dialogue, stressing the importance of a collaborative approach. “We will continue to engage and continue to make ourselves very available in the context of these negotiations…