CBN Alerts Nigerians of Fake Naira Note Spreading in the Country | 5 Things That Should Matter Today

Lagos State Water Corporation
  • SDP debunks rumours of being a part of new coalition party against APC
  • Lagos State Government agency lays off 450 staff due to restructuring
  • CBN alerts Nigerians of fake naira note spreading in the country
  • Shareholders approve N17.42 buyback as GSK delists from NGX
  • FG announces when student loans will take off

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.

SDP debunks rumours of being a part of new coalition party against APC

The Social Democratic Party (SDP) has announced that it is not a part of the new coalition party aimed at challenging the ruling party—APC.

SDP stated that the rumours suggested it was among the seven leaders from the seven political parties; however, this is not true.

In an interview with Arise TV, Shehu Gabam, the party’s national chairman, said, “SDP wishes to clarify its position regarding the suggestion that it is involved in forming a coalition against President Tinubu’s administration. SDP firmly distances itself from such unpatriotic and undemocratic political tactics.”

Lagos State Government agency lays off 450 staff due to restructuring

The Lagos State Water Corporation is restructuring, dismissing 450 staff members from their posts within the agency.

According to media houses, the sack letters began circulating within the agency on November 28. The staff members lamented about being uninformed before being laid off from work.

However, Kehinde Fashola, a spokesperson, claimed that the sacking of these staff members was due to happen as they’d breached the contract.

“Some have been contract staff for ten years and some for five years, which is not per the country’s labour law. The normal time is two years.”

CBN alerts Nigerians of fake naira note spreading in the country

The Central Bank of Nigeria has issued a warning to criminals spreading counterfeit naira notes within the country, informing them of the dangers of their crime and the punishment reserved for it.

On December 8, the CBN’s Acting Director for Corporate Communications, Sidi Ali, released a statement warning Nigerians about the circulating counterfeit notes just as they prepare for Christmas festivities.

He indicated that this desperate move by criminals resulted from the scarcity of naira notes in some states across the country, and he urged Nigerians to be vigilant with the currency they trade with.

Shareholders approve N17.42 buyback as GSK delists from NGX

The minority shareholders of the medical firm GlaxoSmithKline (GSK) have approved the buyback of the shares sold at N17.42/unit as the company finalises its delisting from the Nigerian Exchange Limited.

On December 8, a notice from GSK disclosed that the shareholders had approved the share buyback rate, among other resolutions at the court-ordered meeting.

FG announces when student loans will take off

Tinubu

The federal government, through Yusuf Tanko Sununu, the minister of education, has announced that the Student Loan Scheme is set to begin in January 2024.

This news comes at a time when federal universities have doubled the rate of their tuition fees, making it harder for students and families to pay their fees and remain in class.

“I want to tell you that we are on track (to begin in January 2024). The committee is working day in and day out. The whole thing will be online, not through physical access. A website that will make for easy access is being developed,” the minister said.

“We want trust in governance, and trust must have a timeline. So it may take from January 1st to January 31st, but as much as possible, we will ensure that by the 31st of January, students can access it.”

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