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ASUU to EFCC, ICPC:  Make public fraud investigation reports on UNILORIN.

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THE Academic Staff Union of Universities (ASUU), Ibadan Zone has raised an alert over alleged attempt by the University of Ilorin management to sack the chairman and secretary of the branch for whistle-blowing on corruption in the university.

It asked EFCC and ICPC to make public results of their investigations on the whistle blowing of the union against the University of Ilorin.

The union further called on the Acting President, Professor Yemi Osinbajo, the Minister of Education, Adamu Adamu as well as the Chairman Governing Council to call the University management to order before plunging the university to another legal crisis.

It urged the Acting President to ensure that the University of Ilorin is not treated to be above the law by the Buhari-led government.

This was contained in a press statement issued in Ibadan after the Zonal meeting of the Union signed by the Zonal Chairman, Dr Ade Adejumo and Dr Deji Omole, Chairman University of Ibadan Chapter.

They noted that it was shocking the federal government seems to choose to prosecute only whistle blowing adding that the anti-corruption can be seen to be selective in prosecution if only those perceived enemies of the government are prosecuted after whistle blowing.

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The duo of UNILORIN ASUU chairman and Secretary, Dr Kayode Afolayan and Dr Solomon Oyelekan respectively had been suspended for four months for signing a document on behalf of ASUU and presenting same at the EFCC and ICPC on alleged corruption and fraud being perpetrated.

“The University of Ilorin Administration is bent on terminating the appointment of Union officials critical of its corruption, lawlessness, dictatorialness and disregard of democratic norms. The union is hopeful that the new Chairman of Council of UNILORIN, Dr. Jubril Oyekan will act positively to prevent the University from sliding down further and being drawn into another round of tussle with our union. We believe he would not be part of a grievous scandal of a Council submitting to the whims of the Administration and terminating the appointments of scholars because they blew the whistle on the wife of the Vice Chancellor or because they alerted the same Council to corrupt practices in the institution. In the meantime, we again call on the relevant agencies to furnish members of the public with the result of their investigations on the petitions submitted by the union. We call on the Visitor to the University and other supervising agencies to prevail on this public institution to stop the continuous harassment of critical voices of dissent.”

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Expressing confidence of a positive response to its call, ASUU called for cessation of harassment and victimization of members of the union who are speaking truth to power.

“After series of attempts by the union to make the university return to the path of decency, the union had no choice than to file petitions before the EFCC, ICPC, CCB and the Visitor to the University over the monumental infractions that have become endemic in the University of Ilorin. Also recently, in a three part investigative report, The Nation newspaper of March 14, 15 and 16 2017 brought out many of the gory details of the UNILORIN anomaly in graphic terms. In addition, the immediate past and the current administration have been exposed as corrupt, nepotistic and lawless. To say the least, the university can no longer be regarded as a university in the proper meaning of the word.

“On February 6 the Branch of the Union in the University of Ilorin drew attention to the malfeasance of the VC employing his wife, Mrs Toyin Ambali under shady circumstances and promoting her within a year instead of the three years allowed by regulation. Rather than retrace his steps, the Vice-Chancellor, apparently to avenge the exposure of his wife directed that the Chairman and Secretary be issued with a query.”

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Labour union protests Heritage Bank’s dismissal of 1,000 workers

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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.

 

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Nigeria not using foreign reserves to defend naira, says CBN governor

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CBN governor

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.

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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.”

 

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Dangote Slashes Diesel Price Amidst Economic Optimism

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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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