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Lagos female chair dispels forcing N650,000 birthday fabrics on staff



Lagos female chair dispels forcing N650,000 birthday fabrics on staff

The Executive Chairman, Ikosi Isheri LCDA, area of Lagos State, Mrs Samiat Bada, has denied online allegations of compelling her staff to buy N650,000.00 fabrics for her forthcoming 50th birthday.

Addressing the media at the council secretariat, in Lagos on Tuesday, Bada described the allegations as completely false and baseless.

Recall that an online medium reported a petition filed by Concerned Ikosi Isheri LCDA Residents against Bada of selling N650.000.00 fabrics for her birthday at this difficult time.

The group had allegedly accused her of making it compulsory for councilors, supervisors and workers to buy the fabrics, among other allegations leveled against her.

Bada told newsmen that those allegations were part of a deliberate attempt to blackmail her, tarnish her reputation and create unnecessary division within her administration.

“I stand before you today to address the recent allegations that have been circulating on the social media in which the writer claimed that I imposed a N650,000.00 Aso Ebi (traditional fabrics) on my staff.

“I want to categorically state that these allegations are completely false and baseless. Since assuming office, I have prioritised the welfare and working conditions of my staff.

“I have worked tirelessly to improve their working environment and ensure that they feel valued and appreciated.
“One of the first actions I took was to increase their monthly welfare package from N400,000 to N1.4 million paid through NULGE Ikosi-isheri Branch.

“I believe the increment is even a significant increase that will further reflects their dedication and hard work to the development of the council,” she said.

The chairman said she recently increased their welfare bonus from N4,000 to N10,000 Naira, a gesture aimed at acknowledging their commitment and motivation to their work.

Bada added that she also procured some new staff bus to enhance their convenience and transportation to their working place.

She said in spite these positive developments and efforts to uplift the working conditions of her staff, it was, however, disheartening to see such allegations against her.

Bada, however, admitted that her friends and associates from abroad were the ones that decided to chose the N650,000 fabrics among themselves to celebrate her birthday coming up in December 2023.

The chairman said there was no formal invitation to her staff, forcing them to contribute financially towards her 50th birthday celebration.

She said appropriate legal route would be carried out to unravel this scheme and ensure that those responsible face the consequences of their actions.

Bada urged the media practitioners to exercise due diligence and report facts, not fiction.

Speaking, the Council Manager, Mrs Bola Adeyemi told newsmen that there was no time the chairman had forced her nor any member of staff to buy the N650,000.00 traditional fabrics for her birthday.

Adeyemi urged members of the public to debunk the allegations against the executive chairperson of the council.


Hardship: Protesters Defy Police Warning, Hit Lagos Streets



Residents have hit the streets of Lagos State to protest against the increasing spike in the price of food and the high cost of living in the country.

The protest was facilitated by a human rights group identified as the “Take It Back Movement.”

This comes against the warning issued by the Lagos State Commissioner of Police, Adegoke Fayoade, on Sunday.

The protesters were seen carrying placards of various inscriptions at Ojuelegba Under Bridge area of the state to express their grievances.

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CBN Lifts Ban On BDCs, Introduces New Operational Mechanism



In a major development aimed at financial stability and strengthening the naira, the Central Bank of Nigeria (CBN) plans to resume its weekly intervention in the country’s foreign exchange (FX) market through the Bureau de Change (BDC) operators.

In 2021, the central bank, in a bid to achieve its mandate of safeguarding the value of the local currency, ensuring financial system stability, and shoring up external reserves, announced the immediate discontinuance of foreign currency sales to Bureau de Change (BDC) operators in the country.

However, the resumed intervention, which would reportedly commence today for funding as well as Tuesday for collection, will see the apex bank inject FX into the subsector in a bid to rescue the naira from further depreciation against major currencies, particularly the US Dollar. The collection will be at designated CBN branches in Lagos, Abuja, Kano, and Awka, while details of the naira accounts to be credited for funding bidding will also be made available today.

CBN is also expected to publish the list of eligible BDCs to benefit from its funding using certain compliance criteria.National Executive Council of Association of Bureau De Change Operators of Nigeria (ABCON) hinted on the latest developments through a memo to its members over the weekend.

The association also warned members that it will no longer be business as usual under the new supervisory regime of the central bank, as any infringement or infraction would result in outright revocation of license and prosecution.

ABCON said through the association’s various engagements with the central bank, in conjunction with ABCON’s strategic partners, CBN had agreed to its request, under the bank’s supervision, to inject liquidity into the market through a weekly intervention beginning today.

CBN assured ABCON that the new circular on the Revised Regulatory and Supervisory Guidelines to BDCs, which was introduced over the weekend, was only a draft exposure that required the association’s inputs before the release of the final guidelines by the apex bank.

To that effect, the letters of the guidelines were not cast in stone, the association’s leadership told its members, who had been worried over the sweeping reforms in the document, which, among other things, prescribed N2 billion and N500 million minimum capital for national and state BDCs, respectively.

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