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PRAN Supports Bank Staff Salaries Rationalisation

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The proactive Shareholder Association of Nigeria (PRAN) has applauded the Central Bank of Nigeria’s directive to banks to rationalise staff salaries saying it would help reduce unnecessary expenses.

National coordinator at the association, Taiwo Aderinde said this last week in Lagos while responding to questions from media representative. He warned that there is no need for downsising in the banking sub-sector, saying that staff salaries should be at reasonably level. According to him, salaries of most bank executive are outrageous and considering the present economic and financial crisis, there is need to review their salaries so as to avoid liquidity problem and to equally project healthy balance sheets.”

He disclosed that since the coming of the financial crisis, organisations and individuals have cut down their expenses and that the issue of banks reviewing staff salaries should not be overemphasized because it is a necessary option, speaking further he maintained that the CBN governor has a genuine intention for the common people. He is a revolutionary who is fighting a war that I know would benefit the market. My prayer is that he does not derail because he has our backing, “ he added.

The CBN governor does not have a northern agenda, noting that his reform polices are for the good of the economy and the nation at large Taiwo said. He however pleaded that the CBN governor should be supported by all stakeholder to enjoy a sound and safe banking institution.

It would be recalled that CBN in its recent memo to the managing directors and Chief executive offices of the embattled banks, directed among other things to reduce executive and other staff emoluments by at least 30 per- cent and submit an action plan for branch and staff rationalisation (reduction) in order to utilise some hidden economics of scale in the bank’s operation.

This directives is said to have given impetus to new policies that penciled down thousands of workers for retrenchment.

Industry sources have, however expressed concerns that while government all over the world work hard to encourage employment and are measured by the number of jobs created, the current reforms in the Nigerian banking industry encourage chief executives to sack workers with impunity.

Elijah Segun, general secretary NUBIFE, described as unfortunate the reform process that could lead to mass sack in banks. According to him, “this has been our predicament in the banking industry. Workers are usually at the receiving end of any reform. No matter the nature of any reform, at the end of the day, you will discover that the workers are the victims. When they recapitalized, we were at the receiving end. They are now sanitising, and we are also at the receiving end, despite the fact that we are not privy in the perpetration of the so-called atrocity in the industry so it is very unfortunate that it is happening this way.

Jarus Erhemosele, secretary general ASSBIF while responding also pleaded with the CBN governor to tread the path of caution in his management’s action in the banks. 

At the last count, at least 1,000 workers within the rank of banking officers and above in two banks (one cleared as healthy and the other rescued) alone were either sacked or asked to resign in the last two weeks.

This figure excludes the thousands reportedly penciled down for sack in the other 22 healthy and troubled banks still grappling with economic crisis. Meanwhile the federal government had reportedly asked Sanusi Lamido CBN Governor to intervene and put an end to arbitrary retrenchments in most of the banks, especially the eight rescued ones.

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TTP Trains Customs Agents, Freight Forwarders On Eto App 

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In a concerted effort to tackle racketeering and reduce inflated transportation costs in the Nigeria’s seaports, Trucks Transit Parks Ltd. (TTP) has trained Licensed Customs Agents and Freight Forwarders on the use of its Ètò electronic call-up system.
The training was held recently at Customs Processing Centre (CPC) Auditorium, Apapa, Lagos, in collaboration with the Nigeria Customs Service (NCS) and supported by the leadership of the Joint Association of Licensed Customs Agents and Freight Forwarders (JALCAFF), Apapa Command.
Speaking at the event, Comptroller Babatunde Olomu expressed appreciation to TTP for facilitating the training and emphasized the need for customs agents to take personal ownership of the Ètò booking process.
“I want to thank TTP for this impactful training. I encourage all customs agents to begin doing their own bookings directly. By doing so, they can take back power from the unscrupulous elements exploiting their lack of knowledge, selling tickets at highly inflated prices,” Olomu declared.
He noted that empowering agents with hands-on training was key to dismantling racketeering networks that have plagued access to the ports and frustrated efficient logistics processes.
Also speaking, the Chairman, Apapa Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA), Chief Emeka Chukwumalu, said the engagement was critical to the ongoing push to reduce cargo transportation costs and ease business operations at the Apapa Port.
According to a freight forwarder, “The training is basically for us to have awareness of the operations of the Ètò call-up system through TTP. We also want to brainstorm on ways to reduce the high cost of cargo transportation in Apapa Port.
“This training opened our eyes to how simple it is to book tickets ourselves. We now know the right steps to follow and how to avoid falling victim to fraudsters.”
Earlier, Head of Operations at TTP, Mr. Irabor Akonoman, talked on common misconceptions about ticket pricing, reaffirming that the cost of Ètò bookings had remained consistent since its inception.
“The official price remains the same since inception. What people are paying higher amounts for is the manipulation by racketeers”.

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NECA Holds MSME Fair To Drive Growth 

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Towards strengthening small businesses and promoting a more supportive regulatory environment, the Nigeria Employers’ Consultative Association (NECA) says it will hold the 2025 edition of its flagship MSMEs Fair on Tuesday (May 6, 2025).
The event, themed, “Galvanising MSMEs for Economic Growth and Stability”, will take place at NECA House in Lagos.
According to NECA’s Director-General, Mr Adewale Smatt Oyerinde, the fair seeks to provide micro, small, and medium enterprises with essential tools, resources, and strategic networks to thrive in Nigeria’s challenging business climate.
He emphasised the vital role MSMEs play in national development, describing them as the “lifeblood of Nigeria’s economy.”
Oyerinde noted that the fair is designed to offer entrepreneurs practical solutions to navigate economic uncertainties, regulatory hurdles, and business scalability issues.
A major attraction of this year’s event is the keynote address by the CEO of FATE Foundation, Mrs. Adenike Adeyemi, a prominent advocate for MSME development.
She is expected to share transformative insights on innovative strategies for sustaining and growing small businesses in Nigeria.
A unique feature of the fair will be interactive sessions with key regulatory bodies. Entrepreneurs will engage directly with agencies responsible for licensing, compliance, taxation, and business registration.
NECA said these sessions aim to demystify bureaucratic processes and foster a more enabling business environment.
It also said the fair will provide a platform for entrepreneurs to exhibit their products and services, connect with potential investors, and explore new markets.
It added that participants would gain critical knowledge on digital transformation, access to finance, and strategies for sustainable business growth.
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· NECA stressed that the fair aligns with its broader mission of promoting enterprise development and economic resilience.
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· “By empowering MSMEs with the right support and information, the organisation aims to stimulate job creation, innovation, and long-term economic stability”, NECA said.
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· The 2025 MSMEs Fair is expected to attract a wide range of stakeholders, including financiers, tech experts, regulators, and industry leaders, all united in advancing the growth of Nigeria’s MSME sector.

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Over 2m Passengers Board Blue Rail Train – Commissioner 

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The Lagos State Commissioner for Transport, Mr Oluwaseun Osiyemi, says over two million passengers have been transported on the Blue Line Rail since its launch, while state-run buses move an average of 42,000 commuters daily.
Osiyemi, who disclosed this during the Year 2025 Ministerial press briefing held at the Bagauda Kaltho Press Centre, Alausa, on Tuesday, noted that the Lagos State Transport Policy, launched in May 2024, was now in its implementation phase, focusing on inclusivity, safety, affordability, and sustainability.
“On rail development, Phase One of the Blue Line (Marina to Mile 2) has served over two million passengers, with Phase Two (Mile 2 to Okokomaiko) in progress.
“Phase One of the Red Line (Agbado to Oyingbo) is now operational with eight stations and additional rolling stocks procured, while Phase two (Oyingbo to link Blue Line at National Theatre) is underway”, he said.
The Commissioner said in the state-owned bus operations, over 60 million commuters have been served since 2019, with daily ridership exceeding 40,000.
He also said plans were on to deploy new buses with Quality Bus Corridors under construction, adding that the Abule=Egba Bus Terminal had also been commissioned.
“For water transport, 15 locally-built Omibus Ferries have been launched and are in operation, with the Ijegun Egba Terminal now open.
“The OMI EKO project, in partnership with the French Development Agency (AFD), will deliver 25 terminals and 78 electric ferries.
“Over 280,000 passengers have used ferry services in the past year, and 12 boats have been upgraded to meet safety standards”, he said.
On road infrastructure and traffic management, the Commissioner said 49 junction improvement projects had been completed, including ongoing ones at Ikorodu, Iju, as well as Allen-Opebi-Toyin axis.
He added that solar-powered Traffic Signal Lights, road markings covering 67.9km, new medians, laybys, and 3,941 parking lots had also been provided.
Additionally, Osiyemi announced that the deployed Automatic Number Plate Recognition cameras had detected over 470,000 traffic violations and that the Vehicle Inspection Service issued over one million roadworthiness certificates.
He also said that the Lagos State Drivers’ Institute trained more than 32,000 drivers in the past 13 months.
The event marked the second anniversary of Governor Babajide Sanwo-Olu’s second term, showcasing major strides in the transport sector under the THEMES+ agenda.

Nkpemenyie Mcdominic, Lagos

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