Here is a roundup of some Nigerian newspaper headlines, accompanied by our advocacy-driven demands for government action in addressing citizens’ concerns.
1. Daily Trust: May Day: N70,000 Minimum Wage Not Enough
As labour unions commemorate this year’s Workers’ Day today across the country, civil servants in various states have said the N70,000 new national minimum wage is not enough to cater for their cost of living amidst rising inflation.
Our Take: As Nigerians mark Workers’ Day, it’s high time the federal and state governments back up minimum wage implementation with real policies that tame inflation and restore dignity to the average worker’s life.
2. Punch: CBEX Resumes Operations Despite SEC Ban, N1.2 Trillion EFCC Probe
Despite the alleged N1.2 trillion digital trading fraud that reportedly affected over 600,000 Nigerians, Punch reports that the embattled Crypto Bridge Exchange (CBEX) trading platform, accused of these acts, has resumed operations, announcing fresh withdrawal options in a move to restore investor confidence.
Our Take: The Securities and Exchange Commission (SEC) and Economic and Financial Crimes Commission (EFCC) must act swiftly to enforce the ban on CBEX and prevent further operations until the ongoing investigations are fully concluded and accountability is ensured. Allowing a platform under scrutiny for a 1.2 trillion naira fraud case to resume business undermines public trust in the financial system and also puts more Nigerians at risk of financial loss.
4. Vanguard: Bank Customers to Pay N6 Per SMS Transaction Alert from Today
Banks will commence implementing charges for alerts and other short messages (SMS) communications to their customers at the rate of N6 for every SMS transaction with effect from today.
Our Take: The Central Bank of Nigeria (CBN) and the Federal Competition and Consumer Protection Commission (FCCPC) must urgently intervene to review and regulate the rising costs of essential banking services to ensure that Nigerians are not further burdened by avoidable charges, especially in a time of economic hardship where every naira counts.
