Business
Accounting Scandal: Toshiba To Cut CEO’s Pay By 90%

L-R: Ambassador of Switzerland to Nigeria, Dr Hans-Radolf Hodel, representative of the Managing Director, Nestle Nigeria Plc, Mr Sola Akinyosoye, Head, Corporate Communications, Nestle Nigeria Plc, Dr Adenekan Samuel and the Executive Manager, Stakeholder Relations, at a news conference on Nestle Technical Training Scheme in Abuja on Wednesday.
Toshiba Corp said on Wednesday it would slash its interim chief executive’s monthly salary for the next two months by 90 percent.
In a statement in Tokyo, it said the cuts included the previously announced cuts, following revelations of improper accounting at the Japanese conglomerate.
The company said it would reduce Masashi Muromachi’s monthly salary by 50 per cent on top of the 40 per cent cut already in place.
It added it would also dock the pay of other senior executives, and that an extraordinary shareholders’ meeting in September would consider any additional measures.
Toshiba also said it would hire more independent directors, including lawyers and accountants.
Business
FEC Approves Concession Of Port Harcourt lnt’l Airport
Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
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