Business
Court Rules On NLC Strike, April 17
The National Industrial Court, Abuja, has adjourned till April 17, a suit filed by the Enugu State Government to compel organised labour to suspend its industrial action.
Though the strike has been called off, both parties are insisting that the case should continue as there are unresolved issues.
Justice Maureen Esowe adjourned the matter for ruling on whether or not to continue hearing the case or transfer it to the Enugu Judicial Division as requested by the Enugu State Government.
Joined in the suit filed by Enugu State Government are the Nigeria Labour Congress and six of its officials.
Counsel to the defendants, Mr Anthony Itedjere, said that the Enugu State Government was still bent on not paying all the workers the national minimum wage, adding that it paid only officers receiving less than N18,000 a month.
The defendants prayed the court to compel the Enugu State Government to pay the approved minimum wage to its workers.
Itedjere also urged the court to continue hearing the matter as the defendants would be held hostage if the matter was transferred to Enugu.
“We would not want to go to Enugu. The matter can be transferred to any other judicial division but not Enugu.”
The plaintiff’s counsel, Mr Sam Orji, however, prayed the court to transfer the case to Enugu Judicial Division for the convenience of both parties.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.