News
Oyo : NPower beneficiaries lament over unpaid stipends .
SOME beneficiaries of the social intervention programme dubbed N-Power Scheme, an initiative of the Muhammadu Buhari led Federal Government, on Wednesday in Oyo state protested against non-payment of their monthly stipends since December last year.
The agitators who stormed the state Ministry of Women Affairs, Poverty Alleviation and Social Development Secretariat Ibadan hinted that they have been cleared but wonder why they are yet to be receiving their monthly stipends.
They disclosed that their colleagues in other states have been paid as at when due as they alleged that delay in the payment by those who are in charge appeared that some people with ulterior motive have cornered their money on selfish grounds.
Protesters who expressed their displeasure decried that it was unfortunate that all efforts made to get the person who is in charge so as to provide necessary information for them proved abortive.
Refreshing your memory, the Special Adviser to the Acting President, Professor Yemi Osinbajo, Mr. Laolu Akande has reportedly claimed that the 200,000 unemployed youths across the 36 states and FCT have been posted to their respective places of work, adding that those employed will start work and receive their stipends from December 1st last year.
Contrary, Kehinde Omolola from Akinyele Local Government, one of the beneficiaries lamented that all efforts made by the beneficiaries in all the 33 local government areas of the state to know the main anchor of the scheme in the state has severally yielded fruitless results.
She then urged the office of the Vice President to intervene in the matter to avoid their own allowance being hijacked by the officials in charge.
Omolola reported that officials of the National Orientation Agency, State Universal Basic Education Board, Ministry of Education and the Women Affairs have been pushing them to each other since the commencement of the payment of December 2016 allowance in January this year.
“I am one of the beneficiaries of NPower, we that are here have not been paid, they did not tell us anything, they have been pushing us to each other, we have gone to the secretariat to complain, we have been to NOA, SUBEB, Ministry of Education and Women Affairs, they did not tell us anyone that is in charge”, she bewailed.
Similarly, another beneficiary, Folarin Dipo from Oluyole Local Government Area said that that their counterparts in other states have been paid but they are yet to receive a penny.
“We are here to tell the management of NPower that we have not collected our allowance since December, we have gone to various agencies but they don’t have any information for us, they have been dragging us from one place to another. That is why we are saying enough is enough. We have been selected and verified but I am wondering why our counterparts in other states have been paid and we are yet to receive any penny”.
The story was not different as another beneficiary who identified himself as Damilare from Ibadan South-West Local Government Area urged the state government to rescue them so that the opportunity will not elude them.
Meanwhile, an official at the Poverty Alleviation department in the ministry, who later chased the protesters out of the premises, Mr. Adekunle Sunday declared that the Commissioner of Women Affairs, Mrs. Atinuke Osunkoya who is not in the office is the one in charge of the program.
Adekunle who did not want journalists to quote him, being a civil servant said the problem may be due to error in account details supplied.
“Some of them have changed their names due to marriage, if the information is different from the account details supplied, will you pay? Some of them, their documents are not completed”.
“Please everybody should leave here. Vacate this premises”, he ordered.
However, Mega Icon Magazine further checks revealed that some youths in the State who are beneficiaries of the scheme have been receiving their stipends.
The headquarters of Heritage Bank at Victoria Island, Lagos, was besieged on Thursday by members of the labour union, protesting the recent dismissal of 1,000 support workers.
The National President of the National Union of Banks, Insurance and Financial Institutions Employees, Comrade Anthony Abakpa, led the demonstration, condemning the bank’s management for what he deemed a lack of adherence to due process in the termination of employment contracts.
Speaking during the protest, Comrade Abakpa asserted that the leadership of Heritage Bank failed to follow established protocols before executing the mass layoffs.
He emphasised the union’s commitment to pursuing justice for the affected workers, vowing to escalate their demands until the bank’s management rectifies the situation.
“We will intensify our demands for justice,” declared Comrade Abakpa, urging the bank’s management to take corrective action to address the grievances of the dismissed workers.
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, clarified that Nigeria is not utilising its foreign reserves to bolster the naira, despite recent fluctuations in reserve levels.
Speaking from Washington DC, where he is attending the International Monetary Fund-World Bank Spring Meetings, Cardoso highlighted the influx of $600 million into Nigeria’s reserves account within the past two days.
While the naira has experienced a notable appreciation against the dollar in recent weeks, climbing over 40% from approximately N1,900/$ to about N1,000/$1, Nigeria’s foreign reserves have been dwindling. As of April 15, reserves dropped to approximately $32.29 billion, marking the lowest level in over six years.
Cardoso emphasised that the shifts in reserves are typical for any country, where various financial obligations, such as debt repayments, necessitate withdrawals.
He stated, “What you’ve seen with respect to the shift in our reserves is normal in any country’s reserves where, for example, debts are due and certain payments need to be made. They are made because that is also part of keeping your credibility.”
Continuing, Cardoso underscored the dynamic nature of the market, advocating for a system driven by willing buyers, willing sellers, and price discovery.
He emphasised, “The shift in our reserves has really little or nothing to do with defending the naira, and that is certainly not our objective.”
Dangote Petroleum Refinery has made headlines by announcing a further reduction in the price of diesel, dropping it from ₦1200 to ₦1000 naira per litre.
The refinery’s decision comes on the heels of its recent supply at a significantly reduced price of ₦1200 per litre, which was introduced three weeks ago, signifying a remarkable 30 per cent decrease from the previous market price of approximately ₦1600 per litre.
This substantial reduction in diesel prices at Dangote Petroleum Refinery is expected to reiterate positively throughout various sectors of the economy, potentially serving as a catalyst in alleviating the persistently high inflation rate in the country.
In a statement last week, Aliko Dangote, Africa’s wealthiest individual and the owner of the refinery, expressed his optimism regarding the potential impact of the price reduction on inflation in Nigeria.
“I believe that we are on the right track. I believe Nigerians have been patient, and I also believe that a lot of goodies will now come through. There’s quite a lot of improvement because if you look at it, one of the major issues that we’ve had was the naira devaluation that has gone very aggressively up to about ₦1900,” he remarked.
As anticipation builds around the implications of this move by Dangote Petroleum Refinery, stakeholders and consumers alike remain hopeful for the positive effects it could bring to the Nigerian economy in the coming months.
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