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Army Denies Coup Alert Against Tinubu
The Nigerian Army on Sunday denied any coup alert against the administration of President Bola Ahmed Tinubu.
It will recalled that an Sahara reporters reported that the Brigade of Guards have been on alert over suspicion of coup at the FCT, Abuja.
“The Presidential Guards Brigade has been put on high alert following unusual movements, leading to suspicions of a coup plot in Nigeria.
SaharaReporters exclusively learnt on Sunday that the suspicions prompted emergency meetings involving the Commander of the Presidential Guards Brigade, Col. Adebisi Onasanya, President Bola Tinubu and the Chief of Staff, Femi Gbajabiamila.
“The Presidential Guards Brigade was placed on high alert after unusual armoured corps movement spurred coup suspicion,
“Last week, Col. Onasanya met with the President and Chief of Staff twice within 20 hours.
“They have also placed key brigades under watch due to planned protest,” a top Presidency source told SaharaReporters.
There has been tension in the country amid the current hardship, rising inflation and high cost of living following the removal of fuel subsidy and floating of the naira by President Tinubu’s administration.
The floating of the naira allows the market forces to determine its value. The policies have pushed up the prices of goods and services astronomically, increased the rate of inflation and worsened hardship in the country.
Last week, the Chief of Defence Staff, General Christopher Musa, warned people calling for a coup over the current economic hardship in Nigeria to desist from such.
Musa, who said the Armed Forces would continue to protect the country’s democracy, warned that the long arms of the law would soon catch up with the proponents of coup d’état.
While fielding questions from journalists when he inaugurated the main entrance of the 6 Division, Nigerian Army and Officers Transit Accommodation in Port Harcourt, Rivers State, the CDS admitted that the country was going through serious economic challenges.
He, however, insisted that having a military coup in the country was not an option.
He said the military would protect Nigeria’s democracy, as according to him, Nigerians want democracy and the country does better under democracy.
He said the military would continue to support democracy, adding that the people calling for coup d’etat “are evil people” who “don’t mean well for Nigeria”.
He warned such people to be “very careful because the law will come after them”.
According to him, everybody goes through a trying period in life.
“You can see the government putting efforts to ensure that we come out better.
“And it is when you go through difficulties and come out better you will really appreciate what it is to build a nation,” – SaharaReporters reported.
But in a swift reaction, the Nigerian Army on its official X.com stamped fake news in block letters across SaharaReporters headline and also wrote ‘FAKE NEWS’ in a separate tweet.
News
Just in: Plateau Govt Approves N70k Minimum Wage for Civil Servants
By Kayode Sanni-Arewa
In line with discussions reached after consultation with relevant stakeholders, the Plateau State Government has approved immediate implementation of the N70, 000 minimum wage for the workforce in Plateau State.
The cheering news is contained in a Press Statement signed by the Head of Civil Service in the State, Stephen Pam Gadong.
Full text of the statement reads in part:
Following the Agreement of the Committee on Consequential Adjustment on Salaries on 13th, November, 2024, the Executive Governor of Plateau State, His Excellency Barr. Caleb Mutfwang, has approved the immediate implementation of the N70,000 minimum wage for workers in the state.
The Implementation is a demonstration of the Governor’s commitment to prioritizing the wellbeing of the workforce in acknowledgement of their invaluableble role in driving the State’s developmental goals.
As the new wage policy is administered, Civil Servants are encouraged to embrace this gesture by recommitting to their duties with renewed dedication and zeal in order to foster a culture of productivity and excellence in service in the State.
News
Before final liquidation, NDIC set to auction Heritage bank properties
In a bid to ensure timely declaration of liquidation dividends to uninsured depositors of the failed Heritage Bank (In-Liquidation), the Nigeria Deposit Insurance Corporation (NDIC) has commenced the process of auctioning the landed properties and chattels of the defunct bank.
According to the Corporation, this exercise is in line with its statutory powers as the Liquidator of failed banks under section 62 (1)(d) of the NDIC Act, 2023, noting that; “This is another follow-up action sequel to the disposal of physical assets and chattels belonging to the defunct bank at its leased locations nationwide”.
This was contained in a statement signed by the Director, Communication and Public Affairs Department, Bashir A.
Therefore, the auction of the landed assets shall be by competitive bidding in sealed bids scheduled to take place at the six (6) selected locations of the Corporation across the country, for the affected 36 branches of the failed bank beginning from Wednesday 4th December 2024.
“Buyers who wish to participate in the auction are expected to follow laid down guidelines purposely aimed at ensuring transparency, fair competition, equity, and accountability to enable recovery of commensurate values from the exercise. This is critical for the payment of liquidation dividends to eligible claimants.
The Corporation shall give preference to financial institutions who are willing to buy at the highest auctioned value to allow for the continuation of provision of banking services to the Nigerian public at the designated locations”, adding; “This is desirable towards bolstering financial inclusion as envisaged by the financial system regulatory authorities.
“However, Corporate bodies and Private individuals willing to compete are equally eligible to compete in the process without prejudice, the auction shall be open and competitive to all bidders.
Furthermore, bidders will be allowed to inspect the properties and chattels across all locations one week before the date of disposal.”
Importantly too, the statement said; “All interested parties are to make available 10% bid security of the value of their sealed bids to be dropped in the bid box provided at the specific centre out of the six locations of the Corporation as contained in the published advertisements.
“All interested bidders are advised to submit their bids only at the designated NDIC offices covering their choices amongst Abuja, Lagos, Bauchi, Kano, Enugu, and Port Harcourt.”
Meanwhile, the Corporation has vowed that there would be no hiding place for debtors of the defunct Heritage Bank whose financial obligation portfolio is in the region of over N700 billion.
News
Naira slumps in parallel market
The Naira experienced a slight depreciation yesterday, slipping to N1,740 per dollar in the parallel market compared to its previous rate of N1,735 per dollar on Tuesday.
According to data from FMDQ, the indicative exchange rate for the Nigerian Autonomous Foreign Exchange Market (NAFEM) strengthened, rising to N1,645.4 per dollar from Tuesday’s rate of N1,689.88 per dollar. This marks an appreciation of N44.48 for the Naira.
The market also saw a significant increase in dollar trading activity, with turnover climbing by 122.5 percent to reach $236.84 million, up from $106.44 million the previous day.
As a result, the gap between the parallel market and the NAFEM exchange rate widened, now standing at N94.6 per dollar, up from N45.12 per dollar recorded on Tuesday.
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