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Nigerian Newspaper: Punch Headlines Today, Wednesday 7th November, 2018.

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Nigerian Newspaper: Punch Headlines Today, Wednesday 7th November, 2018.

I’m committed to giving Nigeria new minimum wage soon – Buhari
Wed, 07 Nov 2018

President Muhammadu Buhari on Tuesday said he was committed to ensuring that the nation’s workers get a new minimum wage as soon as possible.

Buhari made the promise at the Presidential Villa, Abuja, shortly after receiving the report of the Tripartite Committee on New Minimum Wage from the Chairman, Amal Pepple.

This happened just as the presidential candidate of the Peoples Democratic Party, Atiku Abubakar, said he welcomed the news that government had accepted to pay the new minimum wage recommended by the committee.

The panel recommended N30,000 as the new minimum wage for the country.

The President promised to immediately put in place the necessary machinery that would address what he called open areas in the report.

He said his plan was to transmit an Executive Bill to the National Assembly for passage within the shortest possible time.

He said, “The committee chairman highlighted some of the challenges encountered during your deliberations, especially as it relates to having a consensus position acceptable by all parties.

“I understand, on the government side, the concerns raised were around affordability – that today many states struggle to meet their existing salary requirements. On the side of labour, the points raised focused on the need for any increase to be meaningful.

“In a way, both arguments are valid. I want to assure you all that we will immediately put in place the necessary machinery that will close out these open areas.”

He added, “Our plan is to transmit the Executive Bill to the National Assembly for passage within the shortest possible time.

“I am fully committed to having a new National Minimum Wage Act in the very near future.”

Buhari said the government would continue to engage members of the committee as it commenced a review of the report.

He, however, warned workers against being used as political weapons.

“As the executive arm commences its review of your submission, we will continue to engage you all in closing any open areas presented in this report.

“I, therefore, would like to ask for your patience and understanding in the coming weeks.

“May I, therefore, implore workers and their leaders not to allow themselves to be used as political weapons,” the President said.

Buhari said the need for a review of the minimum wage became necessary because the last review was done in 2011 and since then, prices of key consumables had increased while the most vulnerable workers were struggling to make ends meet.

He said the successes recorded by the country since 2011 did not benefit the majority of Nigerians.

While presenting the report to the President, Pepple said the committee recommended N30,000 as the new minimum wage and produced a draft bill to be sent to the National Assembly on the matter.

In arriving at the figure, she said the committee weighed the demands of the workers which was predicated on the high cost of living occasioned by unfavourable exchange rate and rising inflation over the past few years, among other factors.

She said the committee also considered the overall macro-economic indicators, including the revenue and expenditure profile of government as provided by the Ministers of Budget and National Planning and Finance as well as the minimum wage proposed by some state governments in their memoranda submitted to the committee.

She added, “Consideration was also given to the critical role of the informal sector in employment generation and the need for a realistic minimum wage that will not stifle the growth of the sector and the overall economy.

“After carefully weighing these critical factors and bearing in mind the overriding interest of the economy, the committee while noting the offer of N24,000 by the Federal Government, is recommending an increase in the existing minimum wage from N18,000 to N30,000.

“We believe the implementation of the recommended minimum wage will, no doubt, boost the purchasing power of workers, increase consumption expenditure and ultimately stimulate business and overall economic growth.”

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Estate surveyors, others to explore opportunities in mining
Wed, 07 Nov 2018
Maureen Ihua-Maduenyi Estate surveyors and valuers, and other stakeholders are set to explore new opportunities in the mining and extractive industry. The Plant and Equipment Faculty of the Nigerian Institution of Estate Surveyors and Valuers said that in collaboration with the Federal Ministry of Mines and Steel Development, Bank of Industry and the Federal University
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Abuja agency targets shea butter
Wed, 07 Nov 2018
Ifeanyi Onuba, Abuja The Abuja Enterprise Agency, in a bid to support the diversification agenda of the Federal Government, says it has set up a shea butter plant to process the product. The plant, according to the Principal Manager, Mr Chudi Ezirigwe, will support the processing of the products towards meeting the requirements for export.
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Pedabo commits to audit devt, professionalism
Wed, 07 Nov 2018
Nike Popoola The Managing Partner, Pedabo, Ajibade Fashina, has said that the company is committed to developing the tax, audit and financial advisory professions in the country. He spoke during a press briefing to relay the achievements and celebrate the firms 20th anniversary in Lagos. Fashina said, Our vision is to be the leading professional
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CBN plans framework to support remittance inflows
Wed, 07 Nov 2018
Ifeanyi Onuba and Femi Makinde The Central Bank of Nigeria in collaboration with the African Institute for Remittances are fine-tuning strategies to conduct the first ever Remittances Household Survey for the country. The survey, which would be conducted with support from the National Bureau of Statistics and the National Population Commission, is being planned for
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Ex-Somali refugee, one otherbecome first Muslim women in US Congress
Wed, 07 Nov 2018
A onetime Somali refugee and the daughter of Palestinian immigrants shared the historic distinction Tuesday of becoming the first two Muslim women elected to the US Congress. Both women Ilhan Omar, 37, and Rashida Tlaib, 42 are Democrats from the Midwest and outspoken advocates of minority communities that have found themselves in the
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Democrats retake US House, Republicans keep Senate
Wed, 07 Nov 2018
Democrats seized control of the lower house of Congress in midterm elections Tuesday, dealing a stern rebuke to Donald Trump almost two years into his polarizing, rollercoaster presidency. Fox and NBC television networks called the result in the US House of Representatives, while confirming expectations that Trumps Republicans will retain control of the Senate. The
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Its time to rescue Tiv nation
Wed, 07 Nov 2018
John Charles, Makurdi The paramount ruler of the Tiv nation, Orcivirgh Prof James Ayatse, on Tuesday, vowed to take proactive measures to surmount the many challenges confronting Tiv land. He made the vow while speaking during Tiv Day annual celebration held in Gboko, the headquarters of Tiv kingdom. The Chairman, Benue State Council of Traditional
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Man kills neighbour over accumulated grievances in Niger
Wed, 07 Nov 2018
Enyioha Opara, Minna The Niger State Police Command on Tuesday arrested one Garba Maru of Kokani Village, Fulani Camp, New Bussa in Borgu Local Government Area of the state for alleged murder. The suspect was said to have killed one Umar Mohammed of the same address with a cutlass over some grievances. It was learnt
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UBTH begins autopsy on surgeon who died on duty
Wed, 07 Nov 2018
Alexander Okere, Benin The management of the University of Benin Teaching Hospital, Edo State, announced on Tuesday that it had begun a medical examination to ascertain the cause of the sudden death of one of its employees, Dr Okeoghene Edigba. The Public Relations Officer of the hospital, Mr Joshua Uwaila, disclosed this to Southern City
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Police nab suspected killer of Abia pastor, church members
Wed, 07 Nov 2018
Ogbonnaya Ikokwu, Umuahia A combined team of operatives from the Abia State Police Command and the Zone 9 Police Headquarters in Umuahia has arrested one Pastor Prosper Akachukwu for allegedly killing one Pastor Blessed Iwuanyanwu and two of his church members. The police operatives, led by the Deputy Commissioner of Police in charge of the
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Navy, Customs confiscate N54.6m smuggled rice in Calabar
Wed, 07 Nov 2018
Mudiaga Affe and Gibson Achonu The Nigerian Navy Ship Victory in Calabar, Cross River State on Sunday intercepted 3,039 bags of contraband rice worth N46m being smuggled into the country from Cameroon. The seizure, which represents the highest that the Navy has recorded in recent times, is coming barely one week after a similar interception
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Lawyers boycott courts over ex-NBA chairmans abduction
Wed, 07 Nov 2018
Alexander Okere, Benin Members of the Auchi branch of the Nigerian Bar Association have commenced a seven-day boycott of the courts in protest against the abduction of their former Chairman, Mr Anthony Itemuagbor. Itemuagbor was whisked away by unknown gunmen at Ahor, in the Uhunmwonde Local Government Area of the state, on Sunday. His wife
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Policeman, five persons killed, 30 kidnapped in Zamfara in one month Rep member
Wed, 07 Nov 2018
John Ameh, Abuja The House of Representatives on Tuesday raised the alarm over rising incidents of kidnapping in Zamfara State, calling for the deployment of more soldiers in the state to bring the situation under control. The House asked the Ministry of Defence to deploy additional troops in Zurmi and Shinkafi Local Government Areas of
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Immigration official, two others remanded for forging documents
Wed, 07 Nov 2018
Olaide Oyelude, Katsina A Federal High Court sitting in Katsina on Monday remanded a passport officer with the Nigeria Immigration Service, Peter Ethan, and two others in prison custody till November 13, 2018 for attempting to procure a Nigerian passport with false documents. The other two accused persons are Michael Okoro and Jennifer Okoro. Justice
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Family accuses DSS of killing kidnap suspect
Wed, 07 Nov 2018
Adeniyi Olugbemi, Sokoto The family of the late Aliyu Bukhari of Kofar Marke area of Sokoto metropolis has accused operatives of the Department of State Services of killing their son. They appealed to relevant agencies of government to assist in unravelling the circumstances that led to the demise of Buhhari in the DSS custody. The
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Champions League: More misery for Henry as Club Brugge thrash Monaco
Wed, 07 Nov 2018
Thierry Henrys Monaco crashed to an embarrassing 4-0 home defeat by Club Brugge on Tuesday that left the French side tumbling towards an early Champions League exit. Giant striker Hans Vanaken scored twice, the second from the penalty spot, while Brazilian forward Wesley banged in a third as Monaco fell three goals behind in just
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UPDATED: Red Star Belgrade shock Liverpool for first Champions League win in 26 years
Wed, 07 Nov 2018
Liverpool face the threat of crashing out at the Champions League group stage after a shock 2-0 defeat to Red Star Belgrade in the Serbian capital on Tuesday. Milan Pavkov scored twice in seven first-half minutes to hand Red Star their first Champions League victory in 26 years. Liverpool still lead Group C but could
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Champions League: Injured Messi out of Barca-Inter clash
Wed, 07 Nov 2018
Lionel Messi was left out of Barcelonas Champions League clash at Inter Milan on Tuesday as the Group B leaders aim to qualify for the last 16. Messi is recovering from a broken arm suffered last month, and Barca boss Ernesto Valverde has opted to leave the superstar attacker out of the match at the
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Mum taught me to be bold Ibrahim Chatta
Wed, 07 Nov 2018
Chux Ohai Actor Ibrahim Chatta, whose mother passed on last Thursday, is still in shock over the sad event. Although the deceased has since been buried, the actor, in an interview with our correspondent, confessed that he could not possibly get over the shock of losing her at this stage in Recalling fond memories of
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American investment fund, GACP, takes over French club Bordeaux
Wed, 07 Nov 2018
American investment fund GACP has completed its takeover of Ligue 1 club Bordeaux for 100 million euros ($114 million), the teams previous owners announced on Tuesday. French media company M6, which had owned the club since 1999, said in a statement that it had finalised the transaction. READ ALSO:Races to watch in US midterm elections
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Wike unveils plan for tourism development in Rivers
Wed, 07 Nov 2018
Chux Ohai Governor Nyesom Wike of Rivers State has reiterated his commitment to develop the tourism potential of the state. The governor, in a meeting with journalists on the sidelines of the recently concluded National Festival of Arts and Culture held in Port Harcourt, said there was a need to constantly showcase the cultural heritage
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Ronaldo a goal machine and money-making machine for ambitious Juventus
Wed, 07 Nov 2018
Cristiano Ronaldos reputation has been tarnished by allegations of rape, but Juventus still believe he will help the Italian giants to reduce the financial gap between them and the worlds very biggest clubs. Juventus take on Manchester United the worlds richest club and where Ronaldo became a star in Turin on Wednesday knowing
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Leicester rename foundation in honour of late owner
Wed, 07 Nov 2018
Leicester Citys Foxes Foundation will be renamed The Vichai Srivaddhanaprabha Foundation in honour of the clubs chairman, who tragically died in a helicopter crash, the Premier League side announced on Tuesday. On top of the millions he poured into funding the clubs rise from English footballs second tier to Premier League winners in 2015/16, Vichai
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Dortmund clash to determine Bayerns Kovac fate Matthaeus
Wed, 07 Nov 2018
Germany legend Lothar Matthaeus says Saturdays showdown between Bundesliga leaders Dortmund and stuttering champions Bayern Munich willmake-or-break under-fire coach Niko Kovac. The 47-year-old Kovac took charge of Bayern in July, but is already under intense pressure amidst speculation of unrest in his dressing room fuelled by poor results and lacklustre performances. Bayern have been German
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What you need to know about fructose intolerance
Wed, 07 Nov 2018
Oladapo Ashiru Fructose is pure sugar (monosaccharide) found in most fruits, such as watermelons, mangoes, oranges, pineapples. Nowadays, fructose is present in large quantities in artificial sweeteners, such as high fructose corn syrup, which is a significant constituent in soda, fruit drinks, cookies, and cereals. It also constitutes 50 per cent of sucrose, which is
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Aids highest cost of death in Asokoro hospital
Wed, 07 Nov 2018
Eniola Akinkuotu, Abuja The HIV/AIDS Clinic at the Asokoro District Hospital has said that HIV/AIDS is the highest cause of death among patients in the entire hospital. It, however, said the rate of deaths caused by HIV/AIDS had dropped significantly compared to previous years. The Project Coordinator, Anti-Retroviral Therapy, Dr. Henry Onyegbutulem, and his Deputy,
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Imo deputy gov hails judiciary
Wed, 07 Nov 2018
Gibson Achonu, Owerri The Deputy Governor of Imo State, Eze Madumere, has commended the judiciary for nullifying the suspension of some members of the state House of Assembly. Mr. Ifeanyi Nnataraonye, representing Mbaitoli state constituency, Dr. Uche Oguwuike, (Ikeduru state Constituency), Mr Chiji Collins (Isiala Mbano state constituency), Mr Nkenna Nzeruo (Oru East state constituency)
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APC loses four more Reps to defection
Wed, 07 Nov 2018
John Ameh, Abuja Four members of the ruling All Progressives Congress in the House of Representatives defected on Tuesday on the floor in Abuja. The development brought the total number of lawmakers who abandoned the party in the last three weeks to five. Those who defected on Tuesday were Mr Abiodun Awoleye-Dada (Oyo State), who
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Debt recovery: Reps to finalise AMCON amendment bill soon
Wed, 07 Nov 2018
Femi Asu The Chairman, House of Representatives Committee on Banking and Currency, Sir Jones Onyereri, has said the Asset Management Corporation of Nigeria Amendment Bill will be presented before the House in the next one or two weeks. Onyereri also said AMCON needed support from other government agencies to recover the over N5.4tn debt yet
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Alleged frame-up: Dino Melayes trial stalled over prosecutions omission
Wed, 07 Nov 2018
Ade Adesomoju, Abuja The trial of the Kogi East Senator, Dino Melaye before the High Court of the Federal Capital Territory in Maitama, Abuja, was aborted shortly after it commenced with the testimony of the first prosecution witness on Tuesday. The testimony of the witness was cut short after the defence raised an objection to
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I wont take sides with any political party Bayelsa CP
Wed, 07 Nov 2018
Simon Utebor, Yenagoa The new Commissioner of Police in Bayelsa State, Mr Joseph Mukan, has pledged not to take sides with any political party in the state. Rather, he said his mandate was to protect lives and property of the citizens of the state and provide security to all political parties in order to ensure
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First Bank reiterates commitment to ethics, corporate governance
Wed, 07 Nov 2018
Feyisayo Popoola First Bank of Nigeria Plc has reiterated its commitment to the promotion and inculcation of sound business ethics in students of Nigerian universities. The Head, Corporate Responsibility, Marketing and Corporate Communications, FirstBank, Ismail Omamegbe, while speaking at the National Final of the 2018 Ethics Challenge of CFA Society Nigeria, described the bank as
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Rhoda Michaels graduates 60 students
Wed, 07 Nov 2018
Sixty youths who have been empowered with fashion designing skills have graduated from the Rhoda Michaels Fashion Institute with a view to building their own start-up businesses. During an even in Lagos where the students showcased their skills, the Founder of the fashion institute, Mrs Yemisi Agbeyo, said the fashion school focused on building fashion
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Baro River Port: NIWA orders contractors back to work
Wed, 07 Nov 2018
Anna Okon The Managing Director, National Inland Waterways Authority, Dr Adeleke Mamora, has called on the contractors handling the installation of Cargo handling equipment at the Baro River Port to immediately move to site to commence work before the end of the year. A NIWA statement on Tuesday quoted the Managing Director of saying this
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FG woos Canadian investors for mining industry
Wed, 07 Nov 2018
Everest Amaefule, Abuja Canadian investors who are interested in the Nigerian mining sector can enjoy incentives and conducive environment needed for their investments to thrive, Vice President, Prof. Yemi Osinbajo, has said. Osinbajo gave the assurance at the on-going two-day, Nigeria-Canada Investment Summit with the theme: Fostering Strong Business Partnership into the Future. Osinbajo affirmed
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Senate probes NNPC over diverted$1bn NLNG dividend
Wed, 07 Nov 2018
Leke Baiyewu, Abuja The Senate has begun an investigation of the diversion of $1.05bn from the Nigerian Liquefied Natural Gas dividend account by the Nigerian National Petroleum Corporation. The upper chamber is specifically probing all withdrawals from the account and how the funds were spent. The Chairman, Senate Committee on Petroleum (Gas), Senator Bassey Akpan,
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2019 budget: Buhari writes NASS, demands timely MTEF passage
Wed, 07 Nov 2018
John Ameh and Leke Baiyewu, Abuja President Muhammadu Buhari has transmitted the 2019-2021 Medium Term Expenditure Framework and Fiscal Strategy Paper to both chambers of the National Assembly for consideration and approval. President of the Senate, Bukola Saraki; and Speaker of the House of Representatives, Yakubu Dogara, read Buharis cover letter on the document in
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Power distributors owe NBET N159bn in five months
Wed, 07 Nov 2018
Femi Asu Power distribution companies in the country failed to remit a total of N158.98bn to the Nigerian Bulk Electricity Trading Plc for the invoices given to them for electricity sold to them in the first five months of the year. The government-owned NBET buys electricity in bulk from generation companies through Power Purchase Agreements
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Buhari meets APC senators over party crisis
Wed, 07 Nov 2018
Olalekan Adetayo, Abuja President Muhammadu Buhari on Monday evening met with some senators elected on the platform of the ruling All Progressives Congress. The meeting was part of ongoing efforts by the President to resolve the crisis that followed the primary elections of the party across the country. The meeting was held inside the Presidents
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Ponzi schemes drive investors away from capital market Experts
Wed, 07 Nov 2018
Feyisayo Popoola Financial experts have described Ponzi schemes as a big threat to further investment in the nations capital market. According to them, the instant and enticing returns from Ponzi schemes are driving investors away from the capital market because people are looking to make quick money to boost their purchasing power and meet their
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Undeclared crude: FG closes case in $110m suit against Agip
Wed, 07 Nov 2018
Oladimeji Ramon The Federal Government on Tuesday closed its case in the suit it filed to recover a sum of $110m from Nigeria Agip Oil Company Limited. In the suit filed before the Federal High Court in Lagos, the Federal Government accused the oil giant of under-declaring the volume of crude oil it shipped out
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One year after, NSE lifts suspension on four firms
Wed, 07 Nov 2018
The Nigerian Stock Exchange has lifted the suspension it placed on trading in the shares of Premier Paints Plc and three other firms more than a year ago. The firms, including Ekocorp Plc, Austin Laz & Company Plc and Academy Press Plc, were suspended for failure to adhere to best corporate governance practices and refusal
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Investors gain N38bn as 14 stocks appreciate
Wed, 07 Nov 2018
Investors in the nations equities market on Tuesday recorded N38.14bn increase in their holdings at the close of trading on the floor of the Nigerian Stock Exchange. At the close of trading, 14 gainers pushed the market capitalisation up from N11.700tn on Monday to N11.738tn on Tuesday, while 23 stocks declined. The NSE All-Share index
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The high cost of shame
Wed, 07 Nov 2018
Author of Practical Steps to Financial Independence and business & finance coach, Mr Usiere Uko, writes on the impact of shame on ones finances What is more important to you’ Is it your financial health or peoples opinion’ In reality, what will people say is the major driver in the decision making of most people.
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Firms cant survive in business without embracing politics Experts
Wed, 07 Nov 2018
ozioma Ubabukoh A United Kingdom-based professor, Kenneth Dubin, has advised companies to get more involved in governance and policy-making. He gave the advice at the 8th Detail Business Series seminar recently organised by a Nigerian law firm, Detail Commercial Solicitors. The seminar, which was tagged The non-market environment: The most overlooked challenge facing businesses today,
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Preparing personal finances as entrepreneurs (2)
Wed, 07 Nov 2018
Ozioma Ubabukoh Emergency funds What happens if your business goes through a tough period, and cannot turn either a profit or needs to cut your salary temporarily’ What if your business stopped growing’ These are nightmares for an entrepreneur, but they are realistic threats you need to be prepared for. Again, this is why entrepreneurs
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Subscribers lament as Econet shuts Kwese TV
Wed, 07 Nov 2018
Ife Ogunfuwa Subscribers to Kwese TV in Nigeria have expressed dissatisfaction at the abrupt manner in which the satellite television company ended its pay TV services. Some of them said they only noticed that something was amiss when only 14 channels were showing out of over 65 channels on the cable TV. Subscribers, who just
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Bankers, others to drive financial inclusion with fintech
Wed, 07 Nov 2018
Nike Popoola Stakeholders in the financial sector have emphasised the need for increased collaboration between the banking and telecommunications sectors in driving financial inclusion in the country. A statement quoted them as saying this during an event by the Fintech Association of Nigeria tagged Social Meet 3.0, which was hosted by the Chartered Institute of
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