Just In: NLC, TUC Declare Nationwide Strike November 14

The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have jointly announced a nationwide strike, scheduled to commence on November 14, 2023. This decision emerged following an extraordinary National Executive Council meeting held in Abuja on Tuesday. The two prominent labour unions have also initiated nationwide mobilization efforts to rally their members and allies in preparation for the impending strike. The call for this industrial action is rooted in the recent assault on NLC National President, Joe Ajaero, in Imo State, which sparked widespread outrage within the Organized Labour community. The Commissioner of Police in Imo State, Mohammed Barde, has been accused of complicity in the attack on Ajaero in Owerri, the state’s capital. Last Friday, Organized Labour issued a five-day ultimatum to the Federal Government, demanding the replacement of the police commissioner and seeking accountability for the attack on Ajaero. While Governor Hope Uzodimma, who is seeking re-election, denied involvement in the assault on the labour leader, Organized Labour also demanded the arrest and prosecution of some of the governor’s aides and thereafter threatened a nationwide industrial strike if their demands were not met. In response to mounting pressure, the Inspector General of Police, Kayode Egbetokun, redeployed Commissioner Barde, citing the need for neutrality in the lead-up to the Imo State governorship election scheduled for November 11, 2023.

NDIC Emerges Overall Best In 2023 ICPC MDAs Scorecard

The Nigeria Deposit Insurance Corporation (NDIC) has won the top position in the Independent Corrupt Practices and Other Related Offences Commission (ICPC) 2023 Ethics and Integrity Compliance Scorecard (EICS). According to a statement by the Corporation on Sunday, “The NDIC has once again demonstrated its unwavering commitment to high ethical standards and compliance with anti-corruption laws and regulations, as it proudly This remarkable achievement marks the second time that NDIC has achieved the prestigious first place, previously having been ranked first in the 2021 EICS.” The ICPC’s Ethics and Integrity Compliance Scorecard (EICS) is an annual assessment tool designed to evaluate Ministries, Departments, and Agencies (MDAs) in Nigeria for their adherence to institutional ethics and integrity requirements. The assessment encompasses the measurement and monitoring of key performance indicators in categories such as Management Culture and Structure, Financial Management Systems, and Administrative Systems. In the 2023 EICS, which took place between March and July 2023 and involved 404 MDAs, the NDIC excelled with a score of 91.30%. The EICS report emphasizes the ICPC’s commitment to mitigating abuse of office and corruption by promoting ethics and integrity benchmarks within government agencies, ultimately contributing to more effective service delivery. “The NDIC’s consistent first-place ranking is a testimony to the Corporation’s zero tolerance policy for corruption and benchmarking its operations with standard best practices. “It would be recalled that the Corporation in September this year earned 3 ISO Certifications having complied with the requirements following a rigorous audit by MSECB, a leading international provider of Audit and Certification services. “These achievements have been possible due to Corporation’s effective and ethical operational procedures aimed at instilling transparency and accountability. The NDIC’s Anti-Corruption and Transparency Unit (ACTU) played a pivotal role in the process, collaborating closely with the ICPC. “This collaboration included sensitizing NDIC staff, identifying and enhancing internal controls to prevent fraudulent practices, and ensuring strict compliance with established policies and procedures by the Corporation’s management,” the Director, Communication & Public Affairs, Bashir Nuhu said in the statement. The NDIC’s outstanding performance in the 2023 ICPC Ethics and Integrity Compliance Scorecard underscores its unwavering commitment to upholding the highest ethical standards and serving as a beacon of integrity within the Public Service. The Corporation remains dedicated to ensuring the safety of deposits and contributing to the stability of the financial system.

Extraordinary Wedding: Nigerian Man Sets to Marry Two Women on Same Day

Nigeria’s social media landscape is buzzing with excitement and curiosity as Prince Okebulu Ndukwo Nkobi, a native of Abiriba in Ohafia Local Government Area of Abia State, prepares to embark on a remarkable journey by marrying two women on the same day. This unusual wedding ceremony is garnering attention and fascination from the public. The wedding, as revealed in an invitation circulating on social media, is slated for November 19, 2023, and is scheduled to take place at Nkobi’s family compound. The unconventional nature of this event has stirred discussions and conversations across various platforms. One Facebook user, MC Clockwise from Abiriba, couldn’t resist sharing the intriguing wedding invite on his page and took the opportunity to extend his heartfelt congratulations to the groom. The news of a man simultaneously marrying two women has piqued the curiosity and interest of many on social media. The brides-to-be, Nnenna Okeke and Aluba Itum Kalu, both hail from the Abiriba community, which adds a local touch to this unique celebration of love. The forthcoming wedding has generated considerable anticipation and questions about how such an event will be orchestrated and carried out. While unconventional, multi-partner weddings are not entirely unheard of in various cultural and religious contexts around the world, they remain relatively rare and are subject to legal and social considerations in different regions.

No immediate floods threat in Nigeria – FG

Prof. Joseph Utsev, the Minister of Water Resources and Sanitation, has said there is no immediate threat of flooding, whilst calling on the government at all levels to put measures in place to prevent flood emergencies. Utsev told newsmen in Abuja that the Nigeria Hydrological Services Agency (NIHSA) had observed an increase in the volume of flow along the River Benue system, registering a flow level of 8.97 meters today. This, he said, was insignificant, as compared to a flow level of 8.80 meters on the same date in 2022. According to him, reports from inland dams including Kainji, Jebba, and Shiroro also showed a consistent flow regime. “In Lokoja, the heightened flow volume along the River Benue system, the flow situation at the confluence of the Niger and Benue rivers in Lokoja, Kogi State, remains within normal parameters. “The flow level at the monitoring station downstream of the confluence records 7.80 meters today, compared to 8.24 meters on the same date in 2022. “As at today, there is no threat to lives and properties, especially those states that are contiguous to Rivers Niger and Benue.” The minister called on all tiers of government to ensure preparedness and deploy appropriate measures to minimise the potential impact of flooding during the peak of the rainy season. He called on states to increase sensitisation on the need for people living along the river banks to relocate to higher grounds during the peak period of rainfall. “States and Local Governments should intensify efforts in clearing blocked drainages and also construct new ones where they do not exist. “Removal of illegal structures constructed within the floodplains, the general public, especially road users, should desist from walking or driving through any pool of water or flood”. The minister said it was important to acknowledge the period of heavy rainfall, flooding, and flood-related disasters that typically occured during July, August, September, and October. According to him, Dam water releases are integral to safeguarding dam integrity and mitigating flooding in adjacent communities. The 2023 Annual Flood Outlook showed that 178 LGAs in 32 states of the Federation, and the FCT, fall within the Highly Probable Flood Risk Areas. 224 LGAs in 35 States of the Federation, including the FCT fall within the Moderately Probable Flood Risk Areas. 

Global current account balances to narrow in 2023 -IMF

Global current account balances increased for the third consecutive year in 2022 and are projected to narrow in 2023, the International Monetary Fund (IMF), has said. According to the Fund, the widening over the three years reflects several factors, including the unequal impact of the COVID-19 crisis in 2020–21 and the increase in commodity prices fueled by the economic recovery in 2021 and supply concerns following the Russia-Ukraine war.   In a report titled, ‘External rebalancing in turbulent times; the Fund stated that the absence of widespread sudden stops during the pandemic enabled deficit economies to avoid an abrupt contraction of their current account deficits. “Currency markets exhibited significant fluctuations in 2022, driven by changes in the terms of trade and monetary tightening,” the Fund stated.   The report stated that an accumulation of official foreign exchange reserves played a limited role in net capital outflows from emerging market and developing economies just as net creditor and debtor positions remained at historically high levels. “Over the medium term, global current account balances are expected to narrow as the impacts of the pandemic and Russia’s war in Ukraine recede. However, several risks surround this outlook, including a renewed increase in commodity prices, a slower-than-expected recovery in China, or a slower fiscal consolidation in economies with current account deficits. While the impact of geoeconomic fragmentation on global current account balances is unclear, it would unambiguously reduce global welfare. The excess global current account balances (defined as the sum of absolute values of current account surpluses and deficits in excess of their norms) have remained unchanged since 2021, after being on a declining trend for several years. While the widening of global current account balances is not necessarily a negative development, excess global current account balances can fuel trade tensions and protectionist measures or increase the risk of disruptive currency and capital flow movements. “Narrowing excess global current account balances would reduce the risk of financial crisis and improve welfare. Policy efforts, in both excess surplus and deficit economies, are required to promote external rebalancing. Where excess current account deficits in 2022 partly reflected larger-than-desired fiscal deficits, fiscal consolidation will help stabilize debt-to-GDP ratios and close current account gaps.” The Fund pointed out in the report that in economies where excess current account surpluses persist, higher fiscal spending in targeted areas will help them to meet their goals in climate, digital, and energy security, while reducing their excess surpluses. “Economies with lingering competitiveness challenges will need to address structural bottlenecks. Multilateral cooperation will help counter risks of geo-economic fragmentation, including efforts to strengthen the current rule-based trading system, and facilitate the green transition. Successfully completing the 16th General Review of Quota would ensure that the IMF is adequately resourced to serve as an anchor of the global financial safety net,” it further explained.