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Expedite Action on Minimum Wage Bill, Labour Tells FG



  • Expedite Action on Minimum Wage Bill, Labour Tells FG

The United Labour Congress has urged the Federal Government to expedite action on the outcome of the National Minimum Wage Negotiating Committee as it submits its report next week by preparing and forwarding the new national minimum wage bill to the National Assembly.

It also called for a quick passage of the outcome of the negotiation into law by the relevant arms of government.

The President, ULC, Joe Ajaero, made the call in an interview with our correspondent on Thursday, saying that the delay in preparing the new minimum wage bill and in reviewing the country’s labour laws was not in the interest of Nigerian workers.

Ajaero said, “Just as we speedily want the new minimum wage bill, the review of the nation’s industrial relations and other labour laws by the National Assembly, which seems to have been consumed by electioneering, is not in the best interest of Nigerians and should be revived forthwith.

“All stakeholders in the process should be rightfully notified of the crafting of a better and progressive body of laws to govern workplace relations in Nigeria.”

The ULC president had earlier stated that labour leaders were pushing for an immediate review of the privatisation of the Power Holding Company of Nigeria.

He added, “The review will save Nigerians the agony of suffering under the suffocating darkness, which the Gencos (electricity generation companies) and Discos (distribution companies) have foisted on the nation.

“We also want the immediate payment of all the arrears of severance packages owed defunct Nigeria Airways workers and staff members of the PHCN.”

According to him, workers are demanding that President Muhammadu Buhari gives assent to the Petroleum Industry Governance Bill.

Ajaero stated, “We are worried that despite the fact that the PIGB is but just one leg in the four-legged PIB, and despite its protracted journey in the National Assembly, and having been passed, the President has not yet made up his mind on whether to assent to it or not.

“We call for a definitive action by the President to ensure that it becomes a law very soon.”

Meanwhile, the President of Nigeria Labour Congress, Ayuba Wabba, said the passage of the national minimum wage, among other issues, is of “great concern to the NLC.”

“We shall continue to resist those who have vowed not to treat Nigerian workers properly, just as we shall continue to picket errant companies,” he added.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.


BUA, Kainos Exploration to Drag Each Other to Court Over $20 Million Scandal



BUA Cement Logo

BUA Group on Monday threatened to drag Mr James Onyejekwe, the Managing Director of Kainos Exploration to court over a publication that claimed the Group was involved in a $20 million scandal.

BUA stated in a statement issued on Monday.

It stated that the publication engineered by Mr Onyejekwe was a “clear intent to impugn the integrity and reputation of BUA Group and its Chairman, Mr Abdul Samad Rabiu.”

BUA takes its reputation seriously and we will continue to do everything to protect it from anyone and any entity who obstructs our mandate to conduct business in a proper, legal and socially-responsible manner.

“BUA will, therefore, utilise its legal and human resources to resist every campaign of defamation and distraction,” the statement further said.

The leading cement manufacturing company said its independent investigation showed Mr. Onyejekwe was behind the false story that went viral online.

We have, therefore, instructed our legal team to immediately commence criminal defamation proceedings against the person of Mr James Onyejekwe who is the said originator of the malicious letter fraudulently attributed to Cavendish Petroleum against our person, with damages,” the statement seen by Investors King noted.

BUA explained that “We deem these actions necessary, in order to protect the name and reputation of BUA Group.”

“We see no reason why Mr James Onyejekwe of Kainos Exploration and Processing would single out BUA in a supposed business dispute which had no link to the BUA Group in its entirety.

“Therefore, BUA finds it absurd that Mr Onyejekwe or anyone else will decide to drag BUA into their issues and/or put out such a malicious and defamatory statement, fraudulently using the name of Cavendish/Mr Mai Deribe without recourse to the truth, facts, decorum or decency,” it added.

BUA Group described the story bordering on allegations of corruption as “false, malicious and spurious.”

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Dangote Cement Emerges Best Performing Firm In Africa



Prime Real Estate Development At Eko Atlantic City

The Kogi State Chamber of Commerce, Industry, Mines and Agriculture (KOCCIMA) has named the Dangote Cement Plc, Obajana Plant, as the best performing company in Africa.

The award was presented to the company in Lokoja at the weekend by the Deputy Governor of Kogi State, Chief Edward Onoja, who represented the State Governor, Alhaji Yahyah Adoza Bello, at the Annual General Meeting(AGM) of KOCCIMA.

Speaking at the occasion, the President of KOCCIMA, Mr. Victor Ibrahim, said the Dangote Cement emerged through a thorough screening process that involved 20 companies.

He said: “Our screening committee considered many criteria before Dangote Cement Plc was selected”.

According to him, the Chamber put into consideration Dangote Cement’s contributions to the state’s economy through Internally Generated Revenue(IGR), as well as its good relationship with KOCCIMA.

Mr. Ibrahim said another criterion that placed the Dangote Cement in good stead is that the company has been environmentally friendly.

“We’ve visited DCP Obajana Plant and we found it complying with global best practices when it comes to the environment. Your parking lot does not constitute any environmental danger. We also considered returns to investors, the welfare of staff, the 43km Obajana-Kabba concrete road, your good relationship with the host community and your positive image”.

He announced that the Chamber of Commerce was planning to host its Trade Fair by year-end and looking forward to collaborating with the Dangote Cement Plc.

The Deputy Governor Mr. Edward Onoja expressed the appreciation of the Kogi State Government, saying the contributions of KOCCIMA and the private sector were crucial to the development of the state.

Speaking to newsmen on the sideline of the event, representative of the Dangote Cement Plc Mr. Ademola Adeyemi said the company was elated and that the award will further spur it to continue its support to the state’s economy, KOCCIMA and Corporate Social Responsibility schemes.

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MTN Appoints Chika Ekeji as Executive Lead for Strategy and Transformation



MTN Appoints Chika Ekeji, A Nigerian-American as Executive Lead for Strategy and Transformation

MTN Group has announced the appointment of Chika Ekeji, a Nigerian-American national as an executive to lead the strategy and transformation unit of the mobile network operator.

Chika has a Master of Engineering in Computer Science from Cornell University and an MBA from MIT.

He will be leaving from McKinsey & Company, where he led the West Africa Digital Practice and served telco, financial services, and public sector clients across Africa.

His appointment with Africa’s leading mobile operator will be effective on, 15th of March. In his new role, he will be based in SA.

“We are very pleased that Chika is joining us as we work to accelerate our strategic repositioning,” says MTN Group chief operating officer Jens Schulte-Bockum.

To support the execution of the repositioned strategy, Ekeji joins a group of other recent appointees, including the new group chief financial officer, Tsholofelo Molefe.

In recent weeks, MTN also made changes to the group’s regional structure and the executive committee.

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