Business & Economy
Minimum wage: State governors Reject N60,000 proposal ….Insist it can not pay

By George Mgbeleke
Governors under the aegis of the Nigerian Governors Forum have rejected the proposed N60,000 minimum wage for Nigerian workers.
In a statement issued on Friday by the Director of Media and Public Affairs for NGF, Halimah Salihu Ahmed, the governors said the proposed minimum wage is too high and not sustainable.
NGF expressed concerns that if the N60,000 minimum wage is adopted, many states would allocate their entire Federal Account Allocation Committee funds to salaries, leaving no resources for development projects.
The statement reads in part,”“The Nigeria Governors’ Forum (NGF) is in agreement that a new minimum wage is due. The Forum also sympathises with labour unions in their push for higher wages.
“However, the Forum urges all parties to consider the fact that the minimum wage negotiations also involve consequential adjustments across all cadres, including pensioners. The NGF cautions parties in this important discussion to look beyond just signing a document for the sake of it; any agreement to be signed should be sustainable and realistic.
“All things considered, the NGF holds that the N60,000 minimum wage proposal is not sustainable and can not fly. It will simply mean that many states will spend all their FAAC allocations on just paying salaries with nothing left for development purposes. In fact, a few states will end up borrowing to pay workers every month. We do not think this will be in the collective interest of the country, including workers. ”
The statement further reads,”We appeal that all parties involved, especially the labour unions, consider all the socioeconomic variables and settle for an agreement that is sustainable, durable, and fair to all other segments of the society who have legitimate claim to public resources.”
Business & Economy
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Business & Economy
Hajj: CSO urges enlightenment for Nigerian pilgrims on currency denominations

By Abdul-Ganiyy Akanbi,Abuja
A faith-based registered Civil Society Organization, CSO, that reports and advocates for workable Hajj policies, the Independent Hajj Reporters, IHR, has called on the States’ Muslim Pilgrims Welfare Boards, SMPWBs to conduct a special enlightenment programme to intending pilgrims on Saudi Arabian currency denominations.
The group, in a statement signed and released on Friday by its national coordinator Ibrahim Muhammad, said: “Now that the Central Bank of Nigeria, CBN has approved the payment of 2025 Hajj BTA via cash payment in US dollars, we call on States Muslim Pilgrims Welfare Boards, agencies and Commission to organize a special enlightenment program to educate Nigerian pilgrims on currency denominations especially on the exchange rates between US dollars and Saudi Riyals.”
It added: “Most of the Nigerian pilgrims are not conversant with foreign currencies especially US dollars and Saudi Riyals, and can hardly identify the value of each denomination unless they are guided during hajj, where hundreds of thousands of pilgrims engage in financial transactions.
“Given the above, Nigerian pilgrims should also be shown the Saudi Riyals currency denomination so that they can be able to identify such whenever they need to change US dollars to Saudi Riyals or make a purchase using either of the two currency denominations.
“This call is important due to past experiences where some dubious Saudi-based individuals shortchanged our dear pilgrims whenever they make purchases or try to convert their BTA to US dollars.”
IHR warned that Nigerian female pilgrims who patronize unregulated dental services to change their teeth as soon as they arrive in Madinah are more vulnerable to being shortchanged.
The group also pleaded with airlines to use the onboard educational system to educate pilgrims on the same subject as a way of corporate social responsibility to help mitigate the risks of financial losses on the part of intending pilgrims.
“Understanding denomination in today’s currency circulation is crucial as it serves as the foundation of all monetary transactions worldwide. It will enable pilgrims to comprehend the value of their BTA.
“According to the Central Bank of Saudi Arabia, SAMA, the most-exchanged foreign currencies during Hajj are the US dollar, the euro, the Singapore dollar, the Indian rupee, the Indonesian rupiah, the Emirati dirham and the Malaysian ringgi,” IHR stated.
Business & Economy
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