• Minister of Finance claims 4.3 million Nigerians benefitted from direct money transfers from the govt
• CBN approves the merger of Providus Bank and Unity Bank
• NCC instructs Telecoms to divulge their tariff plans
• #EndBadGovernance Protest: protesters visit Wike’s home in Port Harcourt, teenagers and bride-to-be killed in Kano, Zaria
• Representatives fault bureaucracy for being unable to implement 50% salary cut

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

Minister of Finance claims 4.3 million Nigerians benefitted from direct money transfers from the govt

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, spoke out on a business programme on national television, stating that no less than 4.3 million Nigerians have been eligible to receive direct cash transfers from the federal government.

The minister claimed that one million Nigerians reached the country a couple of weeks ago, and the federal government’s goal is to send direct transfers to 1 million Nigerians at least monthly.

He praised the Nigerian government for doing its best to accommodate Nigerians as the programme was launched to help the poorest and vulnerable citizens.

CBN approves the merger of Providus Bank and Unity Bank

The Central Bank of Nigeria (CBN) has approved merging two Nigeria-based banks, Providus Bank and Unity Bank.

The information was shared in a statement signed by the acting Director, Corporate Communications, Hakama Sidi, on August 6.

“The Central Bank of Nigeria has approved a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and Providus Bank Limited. This strategic move is designed to bolster the stability of Nigeria’s financial system and avert potential systemic risks,” the statement reads.

Unity Bank was formed in 2006 through the merger of nine banks, while Providus Bank was formed in 2016 to provide debt-financing facilities to SMEs.

NCC instructs Telecoms to divulge their tariff plans

The Nigerian Communications Commission (NCC) has demanded that all active Nigerian telecommunication providers open up about tariff plans, promotional offers, packages and other offers as Nigerians continue to complain about the sudden and unexpected depletion of their data and airtime plans, which lasted longer than they do now.

Mr Reuben Muoka, the NCC spokesperson, requested that all Telecom operators be more transparent when offering Nigerian customers their services.

He asked that they provide a detailed table explaining the features of their tariff plans and package deals.

“The table should contain all necessary information for subscribers to make informed decisions, including details on add-ons, their prices, how consumers can opt in or out, terms and conditions for renewal, and rollover policies,” he said.

#EndBadGovernance Protest: protesters visit Wike’s home in Port Harcourt, teenagers and bride-to-be killed in Kano, Zaria

The #EndBadGovernance protest persists in Nigeria as protesters storm the gates of Nyesom Wike, the Minister of FCT’s home in Port Harcourt, Rivers State, chanting and waving placards as they demand an end to the bad governance in Nigeria.

Upon reaching the home of the Minister, they were met with armed forces who repelled them back, but they sat in front of the house, refusing to leave.

Similarly, four teenagers and a bride-to-be have been allegedly murdered by security agents during the #EndBadGovernance protest in Kano and Zaria.

The names of the deceased northern residents are Isma’il Muhammad, Abdulkadir Labaran Babah Alfindiki, Kashifu Abdullahi Gyaranya, Umar Abubakar Hausawa, and Firdausi Muhammad.

Representatives fault bureaucracy for being unable to implement a 50% salary cut

The members of the House of Representatives have complained about being unable to implement their decision to reduce their salaries by 50% for six months.

In July, the House of Representatives concluded that they would offer aid to Nigerians in their way by sacrificing half of their salaries to Nigerians for the next six months; however, according to the spokesman of the House of Representatives, Rotimi Akin, the bureaucracy was to be blamed for such error.

“We acknowledge and regret that this resolution was not implemented by the bureaucracy as intended for July,” he said.