• Pres. Tinubu likely to suspend import duties on food
• US lawmakers seek the release of captured Binance executives
• Kaduna Assembly accuses El-Rufai and commissioners of squandering ₦423b
• Tripartite Committee adjourns meeting as Wale Edun proposes minimum wage template
• Naira appreciates and trades at ₦1,475/$ in black market

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

Pres. Tinubu likely to suspend import duties on food

The federal government is on the verge of setting a motion to suspend the import duties on drugs, staple food items, and other vital items for a total of six months as a means of reducing inflation.

According to reports, a document yet to be signed by the President reads, “The import duty and other tariffs are to be suspended on the following for six months: Staple food items; Raw materials and other direct inputs used for manufacturing: Inputs for agriculture production including fertilisers, seedlings, and chemicals, Pharmaceutical products, Poultry feeds, flour and grains,”

US lawmakers seek the release of captured Binance executives

Lawmakers in the USA have demanded that President Joe Biden hasten the release of Binance Executive Tigran Gambaryan, who is being held by Nigerian authorities over charges of money laundering and tax evasion.

A letter signed by twelve US lawmakers and addressed to Joe Biden, Secretary Antony Blinken, and Presidential Envoy for Hostage Affairs Roger Carstens stated that the allegations against Gambaryan were baseless and looked more like an opportunity to stifle Binance in the country.

“Mr. Gambaryan is a U.S. citizen being wrongfully detained by the Government of Nigeria per 22 U.S.C. 1741 (a)(9) and (10). On behalf of Mr. Gambaryan, his family, and concerned Americans, we, the undersigned, urgently request and strongly encourage the transfer of his case to the Office of the Special Presidential Envoy for Hostage Affairs,” the letter reads.

Kaduna Assembly accuses El-Rufai and commissioners of squandering ₦423b

The State House of Assembly has alleged that former Governor Nasir El-Rufai and his colleagues mismanaged ₦423 billion.

The assembly requested that the Economic and Financial Crimes Commission (EFCC) hold the ex-governor accountable for his crimes as they investigate his tenure in the office.

The State House of Assembly alleged that El-Rufai had made suspicious withdrawals in dollars and Naira; however, the ex-governor came out to clear the air, saying the allegations were “jaundiced and politically motivated.”

Tripartite Committee adjourns meeting as Wale Edun proposes minimum wage template

The Tripartite Committee, who have been tasked to meet every day for a week to decide the new minimum wage, have adjourned their meeting as the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, would present the minimum wage template which the President ordered him to provide within 48 hours.

These two things were among the reasons why the NLC and the TUC temporarily suspended their indefinite nationwide strike, as the government has chosen to take Organised Labour seriously and introduce a befitting minimum wage for all workers.

The Organised Labour had requested ₦494,000 as the minimum wage while the government proposed ₦60,000 wage.

Naira appreciates and trades at ₦1,475/$ in the black market

The Naira has risen against the US dollar in the parallel market section of the foreign exchange market, rising from ₦1,480/$ to ₦1,475/$.

However, the Naira depreciated to ₦1,476.95/$ in the Nigerian Autonomous Foreign Exchange Market (NAFEM)