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Egbabor hails Ogorugba on victory as Isoko North Chairman

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By Kayode Sanni-Arewa

Director-General of the Isoko North Peoples Democratic Party PDP Campaign Council, Hon. Emmanuel Egbabor has congratulated Prince Godwin Ogorugba on his emergence as Chairman-Elect of the Council.

Returning Officer for Isoko North, Dr Felix Omoruwo of the Federal University of Petroleum Resources, FUPRE, said Peoples Democratic Party PDP candidate, Prince Godwin Ogorugba polled 38,126 votes to beat his main challenger Pastor Joshua Ogbodo of the All Progressives Congress (APC) who scored 2,206 votes.

Egbabor in a statement made available to the press on Sunday said Ogorugba deserved the victory having worked hard over the years serving the party as Chairman in the LGA chapter.

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He commended party faithful and people of the local government for their trust in the PDP and for always standing by the party in all elections.

Egbabor also congratulated the Vice Chairman-Elect, Dr Mrs Evelyn Aluta and the 20 Ward Councilors-Elect on their victory and prayed that the best was yet to come for the people of the area.

“On behalf of the Campaign Council, party leaders and stakeholders, I congratulate my dear brother and friend, Hon. Prince Godwin Ogorugba, his Vice Chairman elect, Dr Mrs Evelyn Aluta and the 20 Councillors-Elect on their victories in the just concluded local government elections in the state.

“The massive votes garnered by our party candidates is a reflection of the many accomplishments of our great party in Delta especially with the MORE Agenda of Governor Sheriff Oborevwori.

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It is my prayer that you will bring to bear your GOD WINS Agenda on the development of Isoko North in line with the MORE Agenda of the Governor in order to advance the frontiers of development in Isoko North.” Egbabor stated.

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Just in: Plateau Govt Approves N70k Minimum Wage for Civil Servants

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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:

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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.

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Before final liquidation, NDIC set to auction Heritage bank properties

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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.

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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.

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“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.

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Naira slumps in parallel market

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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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