Employee
NSITF raises N180 billion from employers’ enrollment in 10 years
The Managing Director of the Nigeria Social Insurance Trust Fund (NSITF), Dr. Michael Akabogu, has revealed that the agency has raised N180 billion from employers’ enrollment from July 2011-May 30, 2021. He also said that plans were afoot to plug revenue leakages, even as he warned the public to be wary of fraudsters masquerading as agents of NSITF. At an interactive session with Finance Journalists in Abuja on Thursday, Akabogu also stated that the scheme has registered almost 200,000 employers. Out of this number, 170,000 employers are actively involved in the scheme by making their contributions steadfastly. He added: “We have collected both from the private sector who have contributed about 80% of the total revenue and we have collected from the government and all other agencies, so we...
Gunman kills at least 8 in mass shooting at California rail yard
At least eight people were killed when a transit employee opened fire at his co-workers at a light rail yard in San Jose, California, on Wednesday morning, the county sheriff’s office said, in the latest in a string of mass shootings this spring. The gunman, who like the victims was an employee of the Santa Clara Valley Transportation Authority (VTA), was also dead, Santa Clara County Sheriff’s Deputy Russell Davis said at a news conference. He did not say how the gunman died or whether police officers fired their weapons at the scene. The name and age of the suspect were also not disclosed. The first emergency calls reporting the shooting at the VTA light rail yard near the city’s main airport came through shortly after 6:30 a.m. Pacific Time (1330 GMT). A bomb squad was searching the yar...
EFCC arrests bank staff for ‘N34 million fraud’
The Lagos Zonal Office of the Economic and Financial Crimes Commission, EFCC, has arrested one Elizabeth Modupe Osunjuyigbe, an employee of Access Bank Plc, for an alleged fraudulent diversion of funds to the tune of over N34m (Thirty-four Million Naira). The suspect, who was arrested on Friday April 30, 2021, allegedly sent a fraudulent request sometime in January to the Branch Service Manager of Access Bank, Adeola Odeku, Lagos State, to issue a draft of the sum of N31, 330, 165. 00 (Thirty One Million, Three Hundred and Thirty Thousand, One Hundred and Sixty-five Naira) in favour of one Best Timland Nigeria Limited. Investigations revealed that the suspect allegedly forged a solicitor’s letter dated January 19, 2021 directing the bank to issue the draft in favour of Best Timland, claimi...
Kassim Afegbua: No need for reconciliation with Governor Obaseki
Prince Kassim Afegbua, a chieftain of the Peoples Democratic Party (PDP) and former Commissioner for Information in the state, has said he has no need to reconcile with Governor Godwin Obaseki on his purported suspension from the party. Speaking in an interview, Afegbua also said he remained a member of the PDP despite his public endorsement of Pastor Osagie Ize-Iyamu, candidate of the All Progressives Congress (APC) in the last governorship election in Edo state. He said: “There is nothing to reconcile with the state Governor. I am older than him at the party. He only came because he needed a platform to contest the election. After his second term inauguration, can you name the PDP members in his administration, five months after? “Yes, I was purportedly suspended for one month by my ward...
EFCC chairman: I will resign If asked to do anything contrary to my conscience
The Chairman of the Economic and Financial Crimes Commission, Abdulrasheed Bawa, has said that he will resign if he’s asked to compromise. This is as he vowed to ensure that corruption in Nigeria is gotten rid of, saying the “rule of law and fear of God shall be his guiding principles.” The EFCC boss said this on Friday, March 26, 2021, when he featured in a Nigerian Television Authority interview programme One-on-One. His words were disclosed in a statement titled ‘We’ll rid Nigeria of corruption – Bawa Vows,’ which was issued on the official Twitter handle of the EFCC. “We need to change our attitudes in Nigeria,” Bawa was quoted to have said. “We are in the habit of worshipping people that have money in the society, but never bother to ask questions about their source of income. In winn...
Femi Falana: EFCC can mandate bank MDs, executives to declare assets
The Economic and Financial Crimes Commission (EFCC) is charged with the responsibility of enforcing the provisions of all laws relating to economic and financial crimes, Africa’s leading human rights lawyer, Mr. Femi Falana (SAN) has said. Consequently, according to the senior advocate, the anti-graft commission is empowered to cause investigations to be conducted into the properties of any person as stipulated under Section 7 (1) (b) of the EFCC Act, 2004. Also yesterday, Transparency International (TI) argued that if the provisions of the Bank Employees, etc. (Declaration of Assets) Act, 1986 were effectively enforced, Nigeria could save between $15 billion and $18 billion illicit financial flows (IFFs) annually. Falana clarified the roles of the EFCC in a response to inquiries on whethe...
Senate advocates stiffer penalties for employers involved in ill treatment of employees, child labour, others
The Senate on Tuesday, passed for second reading, a Bill which seeks to review the Labour Act to provide stiffer penalties for various offences ranging from ill treatment of workers by employers, modern slavery, child labour to discrimination against women in the work place. The legislation titled ‘A Bill for an Act to amend the labour Act Cap L1, LFN, 2004 to review labour fine and other related matters, 2021,’ is sponsored by Senator Francis Onyewuchi (Imo East). According to the draft Bill, Section 21 proposed a fine of N500,000 and N1,000,000 from the present fine of N800 and N500 for first and second offences relating to “Breach of terms and conditions of employment”, as it relates to the wage hour, nature of employment, leave and contracts of employment, among others. Section 46 also...
Wife of embattled FCMB chief denies leaving husband
The wife of the embattled Managing Director of the First City Monument Bank, Hauwa Adam Nuru, has shown solidarity with her husband, adding that she had never contemplated leaving him. Adam Nuru was made to proceed on leave as the FCMB MD to allow for an investigation into an alleged sex and paternity scandal involving a former female employee of the bank. Hauwa, in a statement, debunked reports that she left her husband, calling such reports malicious and deliberate falsehood. “I want to clarify for the avoidance of doubt that I am still very much with my husband. This fake news was published by an online newspaper in a calculated attempt to further demonise my beloved husband and a loving father,” she said. “Let me reiterate that at no time did I contemplate leaving my matrimonial home o...
Yemisi Edun appointed acting FCMB chief
First City Monument Bank Limited (FCMB) has appointed Yemisi Edun as the acting Chief Executive Officer of the bank. This followed the decision by the Chief Executive Officer, Mr. Adam Nuru, to proceed on voluntary leave as the board investigates allegation of paternity scandal against him. The bank disclosed this on Wednesday. Edun holds a Bachelor’s degree in Chemistry from the University of Ife, Ile-Ife and a Master’s degree in International Accounting and Finance from the University of Liverpool, United Kingdom. She is a Fellow of the Institute of Chartered Accountants of Nigeria and a CFA Charter holder. She is also an Associate Member of the Chartered Institute of Stockbrokers; an Associate Member of the Institute of Taxation of Nigeria; a Member of Information Systems Audit and Cont...
EFCC investigates assault on Shawarma seller by officers
The Economic and Financial Crimes Commission says it has launched an investigation into the alleged assault of Ms Mnena Ato, the Managing Director and Chief Executive Officer, Star Shawarma, Makurdi, Benue State. The EFCC said in a statement by its Spokesman, Dele Oyewale, that it is not the character of the commission to assault innocent citizens. The statement read in part, “The attention of the EFCC has been drawn to reports of a recent arrest made by its officers at a pastry firm in Makurdi, Benue State, involving Ms Mnena Ato, Managing Director and Chief Executive Officer, Star Shawarma. “The commission has commenced investigations into the circumstances of her arrest and would leave no stone unturned in ensuring that all facts related to the arrest are unearthed. It is not in the cha...
PGF chief: Femi Fani-Kayode’s botched defection an attempt to manipulate APC leadership
Director-General of the Progressive Governors’ Forum PGF, Salihu Moh. Lukman has said the recent attempt to accept Chief Femi Fani-Kayode into the fold of the All Progressives Congress APC was a clear attempt by some partisans to manipulate the leadership of the ruling party into doing the wrong thing. There were reports earlier in the week that Fani-Kayode, a chieftain of the opposition Peoples Democratic Party PDP was set to join the APC following a meeting with the Chairman of the Caretaker Extraordinary Convention Planning Committee CECPC, Gov. Mai Mala Buni, and Kogi state Governor, Yahaya Bello who chairs the Mobilization Committee of the party. In a statement titled, “APC and the Question of Values”, Lukman praised the insistence by many APC members and leaders that Mr. Fani-Kayode ...