The Labour Party says it would implement a minimum wage of N80,000-N100,000 if the party wins next year’s presidential election.
A few days ago, the Labour Party unveiled its manifesto after a long wait with its presidential candidate Peter Obi touting the payment of hourly wages as against the current monthly format in the country.
While speaking to our reporter on Thursday, the party’s Deputy National Chairman Ayo Olorunfemi said the LP is looking at implementing a new minimum wage of between N80,000-N100,000 as against the N30,000 obtainable presently.
“It depends on the nature of the job that would be given out. For instance, when you take a cursory look at the manual labourer out there, he does not take less than N2,500-N3,000 per day which is still not okay as far as the reward system is concerned. If you divide N3,000 by six hours, you will be talking about N500 per hour,” he said on the show.
“So, when you benchmark that against what we have now, certainly, you would be talking of something within the range of N500-N1,000 per hour depending on the nature of work, and at the end of the day, someone can effectively say that he can make up to N4,000 in a day. And when you multiply N4,000 in a day by 20 or 25, we are talking about N80,000 or N100,000 in a month.”
When asked to further clarify his comment, the LP chieftain maintained that the party is eyeing “N80,000-N100,000” as a new monthly minimum wage, noting that “that is exactly where we are going!”
As far as he is concerned, the present N30,000 minimum wage does not reflect the realities, saying the Labour Party would pluck holes and exploit new ways to ensure the new wage structure is implemented if the party wins next year’s polls.
“As a matter of fact, you know the amount of oil in the name of oil theft that has been leaving this country,” Mr Olorufemi added. “We know where these things are coming from. They say there is no money but we know these monies have been stashed in the rooms or toilets of a few persons.”
The Resident Electoral Commissioner of the Independent National Electoral Commission in Anambra State, Queen Agwu, has said about 132,623 Permanent Voter Cards are yet to be claimed in the 21 local government areas of the state.
Agwu stated this on Wednesday at the INEC headquarters in Awka, Anambra State, while raising concern about the situation.
She added that the commission would open its offices on Saturdays and Sundays, urging voters who have not collected their PVCs to go and pick their PVCs, while the new batch of PVCs from the recent voter registration exercise was still being expected.
She said the commission has equally relocated six local government areas collation centres in the state over insecurity.
According to her, the security concerns was raised during a stakeholders meeting involving all the political parties, traditional rulers, civil society groups with the commission, among others.
Agwu listed the local government areas where the relocation of collation centres took place as Ihiala, Nnewi South, Onitsha North, Orumba North, Awka North and Awka South.
The REC said the collation of PVCs had been extended to Saturdays and Sundays in Anambra State, adding that they needed enough security to carry out their function.
She said if the people did not collect their PVCs, they were shortchanging Ndigbo and doing disservice to the people of South-East.
Agwu assured that 2023 general elections would be free, fair and credible, not only in Anambra State, but the entire country.
The figures at each of the 21 local government areas not collated as announced by INEC, were as follows: Ayamelum -1,960, Dunukofia -6,222, Idemili South -4’589.
Others were,l Anaocha -885, Orumba South -6,656, Onithsa South -12,274, Idemili North -16,256, Aguata -12675, Njikoka -7,009, Ogbaru -10,755 and Anambra East -7,717;
Nnewi South -1,841, Awka North -1,153, Anambra West -1,387, Orumba North -2,393, Oyi -7,982, Onitsha North -9,990, Ihiala -4,058, Nnewi North -8,700, Ekwusigo -3,350 and Awka South -4,971.
The traditional rulers and Town Union Presidents, including Party chieftains, assured that they would carry the message to their respective areas.
“Voters who have not collected their PVCs are encouraged to go and pick their PVCs, while the new batch of PVCs from the recent voter registration exercise is still being expected,” they added.
The new cash withdrawals limit will have tax implications especially for individuals and MSMEs.
As many people will be forced to carry out transactions using electronic payments, small businesses that currently operate mostly on cash will become visible to the tax authorities.
This will trigger various tax obligations including:
Income tax
If your business is registered as a company you may be liable to CIT depending on your annual turnover (i.e. no CIT if your turnover below N25m, 20% if your turnover is between N25 to N100m, 30% if your turnover is more than N100m) in addition to Education Tax at 2.5%.
If your business is not registered as a company then you will be liable to personal income tax based on graduated taxable income bands between 7% and 24%.
VAT
All businesses are required to register for VAT and charge 7.5% on their goods and services except those with annual turnover below N25m.
PAYE
All employees earning more than N30,000 per month are liable to PAYE which must be deducted and paid to the tax authority by the employer on a monthly basis. You may also be liable to other statutory contributions such as pension depending on your staff strength.
Individuals
The more transactions you make electronically the more the tax authorities will get the intelligence to track your income and net worth making it easier to fish you out if you are a tax evader.
What to do
If you’re a small business owner, you need to take some steps now:
1. Register with the relevant tax authorities (FIRS and the State Internal Revenue Service where you operate)
2. Open a separate bank account for your business (or dedicate one for that purpose if you already have a business account) and don’t mix business with personal transactions.
3. Government on its part needs to sensitize the general public especially small business owners, and the CBN should ensure a proper handshake with the fiscal authorities. For instance, the conditions for excess cash withdrawals could include Tax Identification Number.
The Inspector-General of Police, IGP Usman Alkali Baba, has successfully completed and commissioned the digitalized Central Motor Registry (CMR) Command Centre at the Force Headquarters, Abuja which is domiciled at the Department of Information and Communication Technology. This is in line with the IGP’s quest to ensure a digital environment for policing the country for robust and more proactive measures in crime prevention, investigation, and prosecution.
The newly digitalized Central Motor Registry Command Centre will make it possible for members of the public to report vehicles stolen from as far back as 1st January, 2018, and yet-to-be-recovered to input the vehicle details on the online platform to serve as a reliable data point for the possible recovery of the vehicle. The platform will also process motor vehicle information to support police operations and efforts toward enhancing national security.
The digitalization of the CMR is complete with 2 Command Centers in Abuja and Lagos, 37 CMR Information Center space across the Country and in the Federal Capital Territory, 200 e-Enforcement Operational Patrol Vehicles with automatic number plate recognition on each vehicle as part of the first batch.
The Inspector-General of Police has therefore admonished Nigerians and other residents in the country to take advantage of the platform at https://reportcmr.npf.gov.ng to upload their vehicle information on the website with effect from today 7th December, 2022, as a security step for preventing it from being stolen and re-registered.
West to East:
From December 15th to January 2nd, 2023; traffic will be opened only to those retuning to the East from West (eg. Lagos, Benin, Asaba etc).
One Way Movement; No Return.
East to West:
From January 3rd, 2023 to January 15th, 2023; traffic will be opened only to those leaving the East back to the West.
Journey Makers are however advised to be mindful of the traffic direction within the period allotted to either side of the newly built bridge.
The opening is intended to help save holidaymakers from long hours on the Niger Bridge and does not translate to formal opening of the Second Niger Bridge.
The Independent National Electoral Commission has knocked the presidential candidate of the All Progressives Congress, Asiwaju Bola Tinubu, for expressing doubts over the credibility of the Bimodal Voter Accreditation System and Results Viewing Portal which will be deployed for the 2023 election.
The commission expressed shock that the APC candidate could question the efficiency of the technology which had been used in several polls, including the off-season governorship elections in Ekiti, Osun, and Anambra states.
The former Lagos State governor had on Monday at the Chatham House in London, United Kingdom, said the electoral body had yet to assure Nigerians of the workability of the BVAS and e-transmission of poll results.
He spoke weeks after the APC National Chairman, Senator Abdullahi Adamu, and the National Organising Secretary, Suleiman Argungu, expressed concerns over the planned deployment of BVAS for next year’s general polls.
Speaking at Chatham House, Tinubu said, “We are still building confidence in our democratic and voting system. INEC is yet to assure us (that) during this election that electronic transmission, the technology being used for accreditation and the total vote count, is reliable, dependable and assuring in our democratic process before we introduce a complicated element of ballot counting.”
But responding to Tinubu’s uncertainty, the Chief Press Secretary to the Chairman of INEC, Mr Rotimi Oyekanmi, pointed out that the commission has been talking about the features, strengths and advantages of BVAS since 2020.
Oyekanmi spoke in response to inquiries by The PUNCH regarding the APC standard bearer’s comment on the credibility of BVAS and the e-transmission of results.
He stated, ‘’The Independent National Electoral Commission has been talking about the Bimodal Voter Accreditation System, its features, strengths and advantages since 2020 when it was introduced to replace our beloved Smart Card Reader.
“At every quarterly meeting that the commission held with leaders of political parties since this BVAS was introduced, and I am talking about more than five meetings, it has always been on the agenda and discussed. My presumption is that both the national chairman and secretary of all the political parties that attend our meetings also brief their presidential candidates about the issues discussed.
‘’More importantly, we have conducted off-season governorship elections in Ekiti, Osun and Anambra states using the BVAS and all of these elections have generally been described and accepted as free, fair, credible, and inclusive by all and sundry. The governors elected have quietly been enjoying their respective tenures. Don’t forget that we also deployed it for the Federal Capital Territory area council election and it was a huge success.
‘’The BVAS has been trending on social media platforms and even foreigners visiting Nigeria for the first are asking: ‘What is this BVAS thing?’’
In response to mischief-makers who circulated rumours that the commission had dumped the BVAS, Oyekanmi explained that the INEC Chairman, Prof. Mahmood Yakubu, has reiterated severally that there is no going back on the deployment of BVAS for the 2023 general election.
‘’Therefore, if at this moment in 2022, we still have a presidential candidate of one of the 18 registered political parties, saying he needs assurances on the BVAS or he doesn’t know or appreciate its relevance to the 2023 general election, then something is terribly wrong somewhere,’’ he stated.
But the APC defended the reservations expressed by Adamu and Tinubu on the BVAS, stating that their statements were probably misconstrued.
The APC Publicity Director, Bala Ibrahim, stressed that both men were merely striving to ensure INEC is 100 per cent certain about its readiness for the election.
Ibrahim said, “I think we are misinterpreting or refusing to understand the broader meaning of concerns in this context. The concern raised by both the party chairman and presidential candidate is that justice should not just be done but be seen to be done holistically.
“What they are doing is to ensure that the right things are done to avoid giving room for complaints to be raised after the 2023 elections. The process should not just be left at 99 per cent; it must meet up with the acceptable 100 per cent standard.
If there is an iota of doubt or anything that can compromise the integrity of the election, it must be looked into. The right thing has to be done.”
When asked if the party was apprehensive that the use of the technology might affect its chances in the polls, the director declared that the party has nothing to fear.
This is even as he reiterated that they have the confidence that the commission can successfully conduct the polls if the right things are done.
“No, we are not intimidated. In fact, our imminent victory is more pronounced with what is happening now. If you look at the ongoing rancour, chaos and divisive situation in the camp of the opposition PDP, you will discover that our chances are getting brighter every day,’’ he stated.
Speaking further, Ibrahim said, “The indices have also indicated that the APC is coasting home to victory and it is certainly going to be an ‘Hallelujah’ at the end of the day. I think we should have confidence in INEC. But that doesn’t mean we shouldn’t tell the commission to be on its feet. On its part, INEC has assured us that everything is on course and everything has been done to ensure the election will be successful.
“For now, we don’t have any fear. Our only worry is misinformation or wrong information being peddled. We hope people won’t believe the antics of the opposition that is giving the public the impression that the party is not ready for the election.
“Of course, we are more than ready. In fact, let me also remind them that the APC is the party to beat. The ruling party is in power and will want to continue by consolidating what the Buhari administration has done. When the Jagaban takes over, we are confident that he will hit the ground running.’’
Ibrahim’s position was echoed by the Director of Media and Publicity for the Tinubu-Shettima Presidential Campaign Council, Bayo Onanuga, who said the party leadership and APC candidate simply wanted the electoral body to get its acts together.
The former boss of the News Agency of Nigeria was also positive that his principal would beat the opposition candidates by a landslide.
He said, “What Adamu and Tinubu are trying to tell INEC is to get its acts together. They are not saying anything more than that. Of course, they are not against BVAS. Tinubu as a candidate, even when he was in the opposition, has been at the forefront of using technology to campaign for the election. So he cannot at this time be saying that he is not in support of BVAS.
“What he is simply saying and what Adamu also said is that INEC should get its acts together to be able to use BVAS seamlessly. This is all they are saying contrary to the twist and distortion of the opposition that they are against technology.
You can see what happened in Osun State, for instance. In one breath, INEC gave the APC a set of results. The party went to tender it in court. Instead of the commission to disclose that they made a mistake, it printed another set of results. How can you print two contradictory results?
“That’s not the kind of thing we are looking forward to. We don’t want an election where people will be arguing that INEC cheated them or anything related to that. This is why we are saying the commission must get its acts together.
“If it presents a result, it should be ready to say ‘That’s the result.’ Not running to get another result. It is so embarrassing.”
On the biggest fear of the APC ahead of the polls, Onanuga maintained that if the exercise was devoid of mischief or rigging, the ruling party would win.
“We are not threatened by the use of BVAS or any technology because we know we are winning this election. In fact, we are winning with a landslide. We have no fear because we believe we will win if there is no mischief or attempt to rig the elections by the opposition.
“Just some months ago, some people told Peter Obi that they could hack the INEC portal when he went on a tour. Once everybody allows the process to go on seamlessly, we don’t have any fear about the 2023 election. We are prepared and believe that with the Almighty God on our side, we are going to win massively,” he stated.
The Senate has raised concerns about the latest Central Bank Nigeria (CBN) policy on cash withdrawals.
Senate Minority Leader Phillip Aduda in a point of order during plenary on Wednesday called the attention of his colleagues to the new policy and demanded for caution as it will affect many Nigerians, especially small business owners.
In his response, Senate President Ahmad Lawan cautions the CBN not to approach the policy by jumping into it at once as many Nigerians will be affected.
He further noted that there is a need to engage the CBN in discussions to get more details of the policy and he directs the committee on banking to discuss this matter during the screening of the CBN Deputy Governors expected to hold before next week.
The Senate has set next Tuesday to debate the new CBN policy.
Under the new withdrawal policy, the CBN restricted the maximum cash withdrawal over the counter (OTC) by individuals and corporate organisations per week to N100,000 and N500,000 respectively.
The CBN stated, however, that withdrawals above the thresholds would attract processing fees of 5 per cent and 10 per cent respectively for individuals and corporate entities going forward.
In addition, third-party cheques above N50,000 shall not be eligible for OTC payment while extant limits of N10 million on clearing cheques still remain.
The new withdrawal regime further pegged the maximum cash withdrawal per week via Automated teller Machine (ATM) at N100,000 subject to a maximum of N20,000 cash withdrawal per day.
The First Anniversary of Anambra International Passenger and Cargo Airport, Umueri is at once a cause for celebration and sober reflection.
It calls for celebration that such a magnificent edifice could be built against all odds, especially as the Covid-19 pandemic raged on and successfully began flight operations on December 7, 2021. The brand new airport built under administration of the immediate past governor of Anambra State, Chief Willie Obiano, remarkably recorded 142 flights carrying 3,865 passengers in its first month of operation. The airport has ever since waxed quite strong by serving as a well-facilitated conduit for ferrying passengers ever since its commencement of flight activities. It especially saved the highly itinerant Anambra commerce-oriented people the trouble of having to travel to Asaba, Enugu or Owerri to catch flights to their business destinations.
The sober reflection on Anambra International Airport is that it is as yet a work in progress. The necessary hope is anchored on the multiform plans Anambra State Governor, Professor Charles Chukwuma Soludo, CFR, has in place of turning the airport into an international showpiece for passengers and cargo haulage. Mr. Governors design of an Anambra Emporium for exports bears the imprimatur of the Anambra International Passenger and Cargo Airport.
Anambra State Commissioner for Transport, Mrs. Patricia Igwebuike has given the promise that regular international flights may commence at the turn of the New Year. She disclosed that discussions are ongoing with some airlines in France, Germany and the United States for the commencement of the international flight operations.
In this busy Christmas season, the domestic passenger airlines, Air Peace and United Nigeria Airline, are busy flying full schedules into and out of Anambra State.
On the planned international front, initial studies have shown that from Anambra to Miami in the USA is just about eight hours of flight time. Transport Commissioner Mrs. Patricia Igwebuike said: We are engaging with the airlines to find out ways we can make it possible for airlines to carry passengers from Anambra to Miami directly.”
It is a universally known fact that commerce is the second name of Ndi-Anambra who are always open for business. Through the airport, Anambra businessmen and women are ready to build relationships and interface with their contemporaries around the world.
On the part of the government, Mrs. Igwebuike stressed: We are also looking for partners from airports around the world. We are new, and the advantage of being new is that we get to do things in line with international best practices. We are looking for investors and experts that will assist us in capacity-building. Also, we want to grow our revenue base.”
The Anambra aviation authorities are in advanced discussions with many local and international airlines, and Commissioner Igwebuike assures that “we are doing things systematically and learning from those who are already in the system. We do not believe in reinventing the wheel.” Mrs. Igwebuike further said: We have engaged with some companies in France, Munich, and now we are engaging the Maimi Dade County. We will seek a partnership or some sort of collaboration. We are going to acquire all the necessary footprints to make ourselves known.”
The grand plan is to make the Anambra International Passenger and Cargo Airport commercially viable. Through the Anambra Emporium, export revenue will start flowing into the state through the vast riches of exportation via the airport. Being in its first year, the airport is still in the process of growth. In due course, it will break even.
According to Commissioner Igwebuike, We have generated revenue from the airport for the government of the state. It is very promising from the way we are going and when we grow it the way we want to grow it, both the commercial arm and others, it will be self-sustaining. That is where we are going.”
The Anambra International Passenger and Cargo Airport is indeed an idea whose time has come.
Ahead of the reintroduction of the new naira notes, the Central Bank of Nigeria (CBN) has imposed a weekly limit of N100,000 and N500,000 withdrawals on individuals and organisations.
The new policy which will take effect from January 9, 2023 is contained in a memo signed by the Director of Banking Supervision, Haruna B. Mustafa and issued to banks on Tuesday.
“The maximum cash withdrawal over the counter by individuals and corporate organisations per week shall henceforth be N100,000 and N500,000 respectively.”
Withdrawals above these limits shall attract processing fees of 5% and 10%, respectively,” it added.
The apex bank has also directed commercial banks to load only N200 and lower denominations into their ATMs.
The memo read, “Further to the launch of the redesigned naira notes by the President, Muhammadu Buhari, on Wednesday, November 23, 2022, and in line with the cashless policy of the CBN, all deposit money banks and other financial institutions are hereby directed to note and comply with the following:
1. The maximum cash withdrawal over the counter by individuals and corporate organisations per week shall henceforth be N100,000 and N500,000 respectively. Withdrawals above these limits shall attract processing fees of 5% and 10%, respectively.
“2. Third-party cheques above N50,000 shall not be eligible for payment over the counter, while extant limits of N10,000,000 on clearing cheques still subsist.
3. The maximum cash withdrawal per week via Automated Teller Machine shall be N100,000 subject to a maximum of N20,000 cash withdrawal per day.
“4. Only denominations of N200 and below shall be loaded into the ATMs.
“5. The maximum cash withdrawal via the point of sale terminal shall be N20,000 daily.
“6. In compelling circumstances, not exceeding once a month, where cash withdrawals above the prescribed limits are required for legitimate purposes, such cash withdrawals shall not exceed N5,000,000.00 and N10,000,000.00 for individuals and corporate organisations, respectively, and shall be subject to the referenced processing fees in (1) above, in addition to enhanced due diligence and further information requirements.
Further to (6) above, you are required to obtain the following information at the minimum and upload same on the CBN portal created for the purpose:
a. Valid means of identification of the payee (National Identity Card, International Passport, Drivers License.). b. Bank Verification Number of the payee. c. Notarised customer declaration of the purpose of the cash withdrawal. d. Senior management approval for the withdrawal by the Managing Director of the drawee, where applicable. e. Approval in writing by the MD/CEO of the bank authorising the withdrawal.
“Please further note the following: i. Monthly returns on cash withdrawal transactions above the specified limits should be rendered to the Banking Supervision Department. ii. Compliance with extant AMUCFT regulations relating to the KYC, ongoing customer due diligence and suspicious transaction reporting etc., is required in all circumstances. iii. Customers should be encouraged to use alternative channels (internet banking, mobile banking apps, USSD, cards/POS. eNaira, etc.) to conduct their banking transactions.
Finally, please note that aiding and abetting the circumvention of this policy will attract severe sanctions.
“The above regulatory directives take effect nationwide from January 9, 2023. Please be guided accordingly.”
