May 15, 2024

SPOTLIGHT

Death Sentence

Nigerian senate proposes death sentences for convicted drug traffickers as the nation totters from a growing addiction to imported narcotics Nigeria's Senate on Thursday proposed significantly toughening penalties for drug trafficking, making the death penalty the new maximum sentence through a law amendment. The amendment, which is not yet law, replaces life imprisonment, which was previously the harshest punishment. Nigeria,...

The $150 Million Bribe

Binance CEO Richard Teng says Nigerian officials from the Office of the National Security Adviser asked for $150m bribe The CEO of cryptocurrency exchange Binance on Tuesday accused Nigerian officials from the Office of the National Security Adviser (ONSA) of demanding a $150m bribe to "make their problems go away". CEO Richard Teng also indicted the west African country of...

Stable to Positive

Credit ratings agency upgrades Nigeria's economic outlook from stable to positive as Naira crashes to N1400/$1 and inflation continues to climb Global ratings agency Fitch revised Nigeria's outlook on Friday to positive from stable, citing the country's economic reforms under its new president. Since taking office about a year ago, President Bola Tinubu has embarked on sweeping reforms, including slashing...

Living Wage

Nigeria's workers reject new minimum wage of N450k unions insists on living wage of N615k which government must deliver Nigerian labour union leader Joe Ajaero, has described as mischievous, the salary increase of between 20% and 28% for civil servants announced on Tuesday by the Tinubu administration.  “The announcement appears mischievous because there is no wage increment that government is announcing,” Ajaero...

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