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Cashless Policy: Senator Dickson accuses APC of a hidden agenda

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***CBN convinces Senate Panel on N100, 000 Cash Withdrawal

The former governor of Bayelsa State Seriaki Dickson has kicked against the new cash withdrawal policy as he
accused the ruling All Progressives Congress (APC) of having a hidden agenda behind it
Controversies have continued to trail the planned policy of the Central Bank of Nigeria (CBN) to limited cash withdrawal for individuals to N100,000 and Corporate Bodies N500, 000 per week
He spoke with newsmen after the screening of the Deputy Governor of CBN on Financial System Stability,
Mrs Aishat Ahmad and her counterpart on Corporate Services, Edward Lametek Adamu, for re-appointments by the Senate Committee on Banking, Insurance and other Financial Institutions.

Dickson wondered why the ruling party was not concerned about the success of the forthcoming 2023 election
He said ordinarily they should have allowed the incoming Government to carry out the new policies if they don’t have any hidden agenda
This was just as the Central Bank of Nigeria made effort to convince the Senate Committee on Banking, Insurance and other Financial Institutions on why the policy has come to stay

The policy as disclosed by the Deputy Governor of CBN on Financial System Stability, Mrs Aishat Ahmad was introduced in 2012 during former President Good luck Jonathan ‘s administration and extended to Abuja and six other states in 2013 .

She said cashless policy being fully implemented by CBN now is not new , as required steps in that direction, was taken in 2012 with Lagos State as pilot scheme and Abuja and Six other states in 2013 .

She explained that though full implementation of the policy has not been carried out by CBN since then , but its introduction then, has brought a lot of transformation in the banking and payment system .
“Distinguished Chairman of this committee and members , I ‘m happy for the opportunity given to make presentations on planned N100,000 withdraw limit for individuals and N500, 000 for Corporate Bodies per week, beginning from 9th January, 2023, in line with cashless policy introduced in 2012 .
“Based on information available to CBN, the time for full implementation of the policy with proposed limit on cash withdrawals per week is now .
“Required infrastructure for its implementation in terms of financial access point system , mobile money , e – naira etc , are available across the 774 local government councils in the country .
“All fears and worries being expressed by Nigerians on the planned limited cash withdrawal policy are seriously being taken care of as nobody or section of Nigerians , will be left out .

” In the past , banking transactions in Nigeria was limited to Bank Branches alone as the only means , which has now expanded into multiple electronic platforms as well as geometrical increase in the number of agents from 88,000 to 1.4million “, she said.

She however said that the Apex bank is flexible and will be ready to accommodate opinions that won’t make the policy strenuous to any category of Nigerians during implementation .
After her presentation, the Committee chaired by Senator Uba Sani (APC Kaduna Central) , gave the two nominees ‘ take a bow and go treatment ‘ as moved by the Whip of the Senate , Senator Orji Uzor Kalu and seconded by Senator Danjuma Goje .
Chairman of the Committee in his remarks said : ” With presentation made by the Deputy Governor of CBN on Financial System Stability , Aisha Ndanusa Ahmad on the planned limited cash withdrawal, required information on the merits of the policy has been given and will be communicated to the Senate in plenary through our report .
“The two Deputy Governors , having earlier been screened before serving their first tenures , need not to again as unanimously agreed by members of the Committee .
“They should therefore take a bow and go “.

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Strike: NASS Leadership, Labour Leaders, others in closed meeting to avert industrial action

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In last minute effort to prevent indefinite industrial action declared by Nigeria Labour Congress ( NLC) and affiliate bodies from tomorrow, Monday, June 3, 2024 , the leadership of the National Assembly led by the President of the Senate, Godswill Akpabio and Speaker of the House of Representatives, Hon Tajudeen Abbas, are currently in closed door meeting with the labour leaders and some Ministers at the Senate Wing of the National Assembly
The Secretary to the Government of the Federation, Senator George Akume, Minister of Finance , Wale Edun, Minister of Information and National Orientation, Alhaji Mohammed Idris Malagi and some other Ministers are also at the Emergency meeting.
Labour welcomes negotiations for “survival wage “NOT “starvation wage” for workers. Akpabio cautions Labour to be mindful of possible “collateral damage” that might lead to massive job loss
Thesewere just before they went into a closed door meeting.
The National Assembly had had earlier indicated that it would engage the organized labour as part of moves to avert the industrial action due to commence on Monday.
It said its decision of to intervene followed the deadlock between the federal government and the Labour Unions in agreeing on a new national minimum wage and reversal of the recent hike in electricity tariffs. The National Assembly stressed that both parties have tenable reasons for their respective positions.
A statement issued Sunday and jointly signed by the spokesperson of the Senate, Senator Yemi Adaramodu and the spokesperson of the House, Akin Rotimi revealed that the President of the Senate, Senator Godswill Akpabio, and Speaker of the House of Representatives, Hon. Abbas Tajudeen, are taking proactive steps to mediate and avert the impending industrial action.
The legislative arm was of the opinion that the strike action would have severe repercussions on the populace and economy

It said: “The National Assembly acknowledges the announcement by Organised Labour, including the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC), to commence an indefinite strike action from Monday, June 3, 2024, nationwide.

“In view of this, the National Assembly Leadership and the Chairmen of the Senate and House Committees on Labour, Employment and Productivity respectively, Senator Diket Plang, and Rep. Adegboyega Adefarati, are looking to engage both parties in constructive dialogue and explore a variety of solutions in addressing the issues at hand.”

It added that the 10th National Assembly was committed to ensuring that the interests of all parties are fairly represented.

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Strike is not in the interest of Nigerians, Labour Minister cautions organised labour

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The Minister of State for Labour and Employment, Barr. Nkeiruka Onyejoecha, has caution the organised insisting that embarking on a nationwide strike is not in the best interest of the country and its people.
In a statement by her Special Adviser (Media) Emameh Gabriel the minister
Minister advised the workers unions to have a rethink as declaring a strike in the middle of ongoing negotiations would not only compound the economic woes but also exacerbate the suffering of millions of Nigerians who are already struggling to eke out a living from their daily endeavors.
Explaining further the Minister noted that the “government has consistently demonstrated commitment and goodwill throughout the negotiations with organised labour.
She pointed out that the government’s proposals were carefully crafted, taking into account the country’s economic realities and incorporating innovative solutions.

“These proposals include a comprehensive package featuring a wage increase to N60,000 for federal workers, the introduction of CNG-fueled buses, and enhanced financial access for Micro, Small and Medium Enterprises (MSMEs). “Additionally, the government has pledged investments in strategic sectors such as agriculture, manufacturing, education, healthcare and many others that are already in the pipeline.
She however cautioned that any new minimum wage must not lead to widespread job losses, particularly in the Organised Private Sector, which employs the bulk of the nation’s workforce

“This sector is crucial to the country’s economic growth and stability. The government’s stance is rooted in a deep understanding of the negotiations, demonstrating its dedication to finding a balance between the needs of workers and the economic realities of the country.
“The goal is to establish a minimum wage that is not only realistic but also sustainable, avoiding any potentially detrimental consequences for the economy.

“By adopting this approach, the government aims to safeguard the interests of both workers and employers, ensuring that any agreement reached is mutually beneficial and does not jeopardise the country’s economic progress.
“This balanced stance is crucial for maintaining harmony in the workforce and driving national growth”, she explained.

The Minister expressed disappointment that in a surprising turn of events, organised labour abruptly exited the negotiations yesterday, despite the government’s flexibility in rescheduling the meeting from Monday to Friday, May 31st, to accelerate the talks.
“Labour unions remained adamant in their demand for a staggering 1,547% wage increase, after the government’s proposed 100% increase, accompanied by various incentives for workers.

“It is widely acknowledged that the labour unions’ demands are unrealistic, given the country’s current economic position. The government takes into account the nation’s fiscal constraints and the need for sustainable economic growth. In contrast, labour’s demands seem disconnected from the economic realities, potentially jeopardising the very gains they seek to achieve”.

“The government’s willingness to engage in dialogue and its demonstrated flexibility in the negotiations underscore its commitment to finding a mutually beneficial solution. However, labour’s inflexibility and unrealistic expectations may hinder the progress made thus far, ultimately harming the workers they represent and the nation as a whole, the minister added.

She however, urged the unions to reconsider their decision and continue engaging in constructive dialogue to find a solution that benefits all, as strike will disproportionately harm the most vulnerable segments of our society. She concluded by asking
organised labour to continue to respect the principles of social dialogue, engaging in good-faith.

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Gov Yusuf Visits National Security Adviser, Ribadu

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Governor Abba Kabir Yusuf of Kano State on Thursday met with the National Security Adviser Malam Nuhu Ribado at his Office in Abuja
The meeting which was ocasioned by the recent happenings in Kano following the dissolution of five emirates by the Kano State House of Assembly through the repeal of the state emirate law, the governor’s assent and the subsequent restoration of Emir Muhammad Sanusi II by the
Governor.
The Governor’s spokesperson Sanusi Bature Dawakin Tofa, in a statement indicated that the two political leaders deliberated on various matters relating to state/national development and the peaceful coexistence of the nation during their discussions in Abuja.
Recall that the NSA had been accused of involvement in the Kano crisis for allowing a substantial military presence to protect the dethroned Emir Aminu Ado Bayero, a position the Office of the NSA debunked
The Kano State Deputy Governor, Comrade Aminu Abdussalam Gwarzo, had apologized to the NSA for his implication in the Kano crises, attributing the error to flawed intelligence.
Recognizing the respected professional background and integrity of the NSA throughout his time as an Officer and Anti-corruption campaigner, the state deemed it necessary to retract the allegation and offer a sincire apology.
In harmony with these events, the Governor’s meeting with the NSA coincided with Emir of Kano Muhammadu Sanusi II’s six-day stay at the Kano palace, where a significant majority of district heads and kingmakers already pledged their allegiance and loyalty to the newly consolidated Kano Emirate under the leadership of the 16th Emir.
The state assured that Kano has been characterized by peace and tranquillity, and thus urges all residents to continue their regular activities in compliance with the rule of law.
“It was a fruitful discussion between myself and the National Security Adviser, his role is critical for the harmonious existence of our nation, so I briefed him on the recent developments in Kano,” Governor Yusuf confirmed.

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