Tag: Featured

‘Banks’ addiction to mobile apps heightening fraud’

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Incidences of mobile-related financial frauds may be on the increase in the country as banks roll out more mobile applications and Unstructured Supplementary Service Data (USSD) services, New Telegraph has learnt. This also comes with the disclosure that the banks in rolling out the services, most times sacrifice security for ‘ease-of-use’. Industry statistics shows that mobile payment fraud in the country rose from N248.14 million in 2015 to N347.645 million in 2017 and still growing. According to the Managing Director, Digital Knowledge Associates, Mr Benedict Anyalenkeya, this is happening because…

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Premium on workmen compensation drops to N196.19m

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Following regulatory directives, which transferred the management of Workmen Compensation and Employers Liability Insurance to the Nigerian Social Insurance Trust Fund (NSITF) under the Employers Compensation Act 2010, premium accruable to insurers has gradually declined by 88.5 per cent from N1.70 billion to N196 million in the last nine years. According to details in the current edition of Nigeria Insurance Digest, a Nigerian Insurers Association (NIA) compendium of insurance business transaction in 2017, the industry recorded N1.70 billion in 2009 and followed with N903.24 million in 2010. The gradual decline…

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OML: Drilling on two slots hits 203 in 14 years

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Shell said that it had, through Production Sharing Contracts (PSCs) with Nigerian National Petroleum Corporation and other PSCs partners, drilled 203 oil wells offshore Nigeria in the last 14 years. The company, which said this in a document obtained by New Telegraph at the weekend, noted that these wells were drilled on Bonga and Erha oil fields between 2002 and 2016. “Twelve years after first oil, Bonga is still operating at “nameplate capacity” – its capacity when it first came into production in 2005. The company had drilled 203 oil…

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Minimum wage: Governor seeks sympathy for colleagues

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Following the unending battle between labour and the Federal Government over new minimum wage, the Governor of Kebbi State, Alhaji Atiku Bagudu, has called on Nigerians to sympathise with some state governors over their inability to pay the proposed N30,000. Bagudu, who was part of the Tripartite Committee on New Minimum Wage that recommended N30, 000 new minimum wage, said that in spite of the Committee’s commitment and recommendation, it was also important for stakeholders to sympathise with governors in that category. He gave the advice in Abuja at the…

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New minimum wage: NECA seeks implementation by January 1

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Following the perceived silence on the proposed N30,000 new minimum wage, the Nigerian Employers’ Consultative Association (NECA) has called on the Federal Government to expedite action on it in order to commence its implementation by January 1, 2019, at the latest. Briefing the media yesterday in Lagos, the President of the association, Dr. Mohammed Yinusa, said since the process of arriving at a the New National Minimum Wage had culminated in the submission of the recommendations of the Tripartite Committee to the President, “we urge the Federal Government to expedite…

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USAID, Coca-Cola partner to improve water sanitation

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 The United States Agency for International Development (USAID) and Coca-Cola Foundation (TCCF) have commissioned a project to improve access to safe water and sanitation services for more than 44,800 persons in Abia and Cross River states respectively. The projects are being executed through their Water and Development Alliance (WADA) global partnership. They were implemented over a two-year period by Partners for Development (PfD), working closely with the state rural water agencies and four selected local government areas (LGAs. Under the USAID and Coca-Cola partnership, 40 boreholes have been drilled and…

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Stepping up agric insurance campaign

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About two weeks ago, the Federal Government bungled another opportunity to sell insurance to Nigerian farmers with the president skipping that aspect while promising farmers compensation over floods that ravaged their investment.   Having been devastated as a result of flood that destroyed their farmland and produce, the affected farmers and fishermen were assured by the Federal Government of compensation.   Presidential gaffe   While compensating the farmers is not out of place, the scenario, however, provided another unique opportunity for the government to talk extensively on the importance of…

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CPS: Male contributors maintain 59% dominance

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  Latest report by the National Pension Commission (PenCom) has revealed that male workers have continued to lead in their pension contributions under the new pension scheme, New Telegraph has learnt.   According to checks, the data, compiled by the commission as at September 30, 2018, shows that the male contributions to their Retirement Savings Accounts (RSAs) is 59 per cent higher than that of females.   While the number of male contributors stands at 5,846,166, that of the female c is 2,425,782. The total makes up the current figure…

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NDE: Youth development central to economic growth

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The Director General of the National Directorate of Employment (NDE), Dr Mohammed Labaran, has said that youth empowerment remains one of the major ingredients to economic development of any nation.   He spoke in Ilorin, Kwara State during an interactive meeting on the new strategy for the implementation of the Skills for Job Training Component of the Youth Employment and Social Support operation (YESSO).   The DG he said youth empowerment was important in the development agenda of the three tiers of government.   He said the strategy being deployed…

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Ganduje promises better deal for labour

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Governor of Kano State, Abdullahi Umar Ganduje has again expressed his willingness to pay N30, 600 as new minimum wage to workers in the state.   He said this in Kano during the inauguration of the Nigeria Labour Congress (NLC) executives for the 44 local government areas in the state.   The governor promised to continue working in harmony with labour oragnisations in the state for the benefit of the workers.   On his part, the Chairman, Kano state chapter of NLC, Comrade Kabiru Ado Minjibirn, however, advised the state…

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