Court Stops N18.4bn Compensation for 34 Rivers Oil Communities
A Federal High Court, Abuja, on Wednesday, declared that the Senate acted illegally in awarding N18.4 billion as compensation to 34 oil producing communities of Obiafu, Soku to Bonny in Rivers over Nigeria NLG Ltd’s acquisition of right of way (ROW).
Justice...
Bayelsa Fails to Implement 30K Minimum Wage, Union Threatens Strike
The Nigeria Union of Teachers (NUT) has threatened to commence an indefinite strike in public primary and secondary schools in Bayelsa over the N30,000 minimum wage and promotion arrears.
The union took the decision at an executive meeting on Oct. 12,...
Naira Pops to N770.71 as Demand Pressures Reduce
The Nigerian naira popped to N770.71 per United States (US) dollar and other major foreign currencies on Wednesday after two days of losing streaks as a result of reduced FX demand pressures at the official market.
A major challenge for naira performance is...
