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The Transmission Company of Nigeria @TCN_NIGERIA reports that the Labour Union has shut down the national grid, resulting in a nationwide blackout as a strike begins.  According to TCN, the shutdown occurred at about 2:19 am on Monday, June 3, 2024. The shutdown originated from the Benin transmission operator and spread to other substations in Ganmo, Benin, Ayede, Olorunsogo, Akangba, and Osogbo.  TCN also states that power generating units from various stations were forced to shut down some units of their plants. However, at about 3:23 am on Monday, TCN began grid recovery efforts, using the Shiroro Substation to attempt to feed transmission lines supplying bulk electricity to the Katampe Transmission Substation.  TCN assures the public that it is working diligently to recover and stabilise the grid to restore normal bulk transmission of electricity to distribution load centres nationwide.

Yoruba, Igbo, Other Ethnic Nationalities Should Be Able To Exit ‘Freely’ From Nigeria –  The private bill was titled, “A Bill for an Act to substitute the annexure to Decree 24 of 1999 with a new governance model for the Federal Republic of Nigeria."  Every ethnic nationality and people in Nigeria will have an unconditional right to self-determination, the promoter of a trending draft "bill" seeking a return to the regional system of government, Dr Akin Fapohunda, has proposed. The private bill was titled, “A Bill for an Act to substitute the annexure to Decree 24 of 1999 with a new governance model for the Federal Republic of Nigeria. In the full proposal obtained by SaharaReporters on Saturday, Fapohunda also suggested the scrapping of the presidential system of government, reintroduction of the parliamentary system, return to unicameral legislature, as well as provision for self-determination by any section of the country which desires so. It read, “Every Ethnic Natio...

“I will Step Down and support Peter Obi in The 2027 Presidential Elections if PDP decides it’s the turn of the South East” - Atiku  Former Vice President, Atiku, has disclosed that he will support the 2023 presidential candidate of the Labour Party, Peter Obi, if the Peoples Democratic Party decides that it is the turn of the South-East in 2027. Atiku, the presidential flag bearer of the PDP in the 2023 general election, said he will throw his weight behind Obi if he is picked by his party. The former vice president disclosed this during a recent interview with BBC Hausa Service, adding that he vied to be president last year because the race was thrown open. “I have said repeatedly and I even said it before the 2023 general elections that if the PDP decides to zone the presidential ticket to the South or South-East specifically, I won’t contest it,” Atiku said. “As long as it’s the decision of the party, I will abide by it. But I contested the 2023 presidential ticket because it w...

Four Nigerian fintech companies have been directed by the Central Bank of Nigeria (CBN) to suspend onboarding new customers. The affected fintech are OPay, Palmpay, Kuda Bank, and Moniepoint. This directive comes amidst investigations into allegations that accounts on these platforms have been used for illegal foreign exchange transactions. A representative from two of the affected companies confirmed the CBN’s order is linked to these accusations. However, they noted that the directive might be misdirected, as the majority of the implicated accounts belong to commercial banks, not fintech platforms. “I can confirm that 90% of the accounts implicated in the illicit forex transactions are with commercial banks, and only 10% are with fintechs,” one of the sources said. “Why then has the CBN not extended this directive to the commercial banks? We face a widespread issue here, and targeting fintechs seems like an unfair focus on the more vulnerable targets.”

The Governor of Edo State, Godwin Obaseki, on Monday, April 29, approved a new minimum wage of N70,000 for civil servants in the state. The governor made the announcement at the inauguration of the newly built ultra-modern Labour House secretariat complex for labour unions in the state, along Temboga Road, Ikpoba-Hill, Benin City. According to him, the new wage comes into effect on May 1st, 2024.