• ASUU commences peaceful protest over non-implementation of agreement
• CBN increases interest rate to 26.25%
• Kuda Bank, Moniepoint, OPay, and others will soon resume enrolling new customers
• Reports reveal that the FG is considering ₦54k as minimum wage
• Nigerians begin purchasing CNG fuel for ₦200/litre

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

ASUU commences peaceful protest over non-implementation of agreement

The Academic Staff Union of Universities (ASUU) peacefully protested to alert the federal government of its failed promises to the Union yet again.

Prof. Jurbe Molwus, the Chairperson of the Union at the University in Jos, led the peaceful protest to the office of the Vice Chancellor of the University, Prof. Tanko Ishaya.

“We are particularly calling on the federal government to pay the balance of the earned academic allowance, unpaid and withheld salaries arrears of our members, which are all captured in the 2023 budget,” Prof Molwus said, represented by his vice, Prof Kiri Jaryum.

CBN increases interest rate to 26.25%

The Central Bank of Nigeria (CBN) has increased the interest rate by 150 basis points from its previous 24.75 to 26.25%.

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, revealed this news at the 295th MPC Meeting in which he also happens to be a Chairman of the MPC.

Since the MPC meeting resumed this February, the MPC has been raised by 750 basis points. 

Kuda Bank, Moniepoint, OPay, and others will soon resume enrolling new customers

The Central Bank of Nigeria (CBN) has promised that fintech companies and mobile money operators like OPay, Moniepoint, PalmPay, Kuda Bank and more will resume enrolling new customers in a few months.

The CBN governor, Olayemi Cardoso, has repeatedly stated his interest in ending money laundering schemes and illicit flows, so he enforced “remedial measures that will help that sector to tighten up on onboarding and even existing clientele base”.

“I am confident that as time goes on, and hopefully in another couple of months, all these will be something of the past, and then you will see that sector going back into what they’ve been known to do before, but certainly with a very stronger regulatory framework,” he said.

Reports reveal that the FG is considering ₦54k as minimum wage

Alleged reports circulating the country state that the federal government is considering increasing the minimum wage to ₦54,000.

This report comes after the NLC walked out of the previous meeting with the government after the latter had proposed ₦48,000 as the minimum wage.

A meeting held on May 21 revealed that the federal government might be considering proposing ₦54k to the NLC and TUC; however, it is almost sure that the Organised Labour will refuse the proposal as they stand behind their desire to increase the minimum wage to ₦615,000.

Nigerians begin purchasing CNG fuel for ₦200/litre

With the introduction of Compressed Natural Gas (CNG), filling stations are now opening nationwide so customers can access CNG fuel.

CNG fuel gas is the federal government’s alternative to petrol, and the Nigerian Mainstream and Downstream Petroleum Regulatory Authority (NMDPRA) has directed that all filling stations across the country begin to sell CNG.

Reports nationwide have revealed that the CNG gas fuel is being sold at the price of ₦200/litre while petrol is currently being sold for ₦700/₦800 per litre.