By Christian Ogbonna

Governor Francis Nwifuru of Ebonyi has announced N10,000 May-Day celebration gift to the workers in the state.

Nwifuru made the disclosure at the occasion of the May-Day in Abakaliki on Thursday.

The News Agency of Nigeria (NAN) reports that the 2025 Workers’ Day is tagged: “Reclaiming the Civic Space in the Midst of Economics Hardship”.

The governor described the workers as “engine room” of government and pledged his continued support to their well-being.

“I will remain indebted to the workers in the state and under my watch, workers will remain a symbol of excellence.

“Today’s May-Day celebration is the reflection of workers contributions to nation building.

“I understand the challenges you face; my administration is committed to tackling them. We are committed to promoting conducive civic space for workers.

“We must stay together as partners in progress for a better Ebonyi,” he said.

Earlier, Prof. Ogugua Egwu, Chairman of the Nigeria Labour Congress (NLC) and Mr Chidi Igboji of the Trade Union Congress (TUC), in a joint address, commended Nwifuru especially on the implementation of the N75,000 minimum wage.

On the unions demand from the governor, they expressed worry on delay to deploy shuttle busses to the state secretariat, Centenary City.

“The workers in the state are in serious need of improved housing projects due to the high cost of rentage in the state. Provide more housing estates for our members.

“There is need to increase the pension of retirees as it’s obtainable in other parts of the country. Equip government offices in the secretariat, among others,” the Organised Labour Union added. (NAN)(www.nannews.ng)

Edited by Benson Iziama

By Olajide Idowu

Gov. Ademola Adeleke of Osun says he has approved N4 billion bond for the payment of retirees under the contributory pension scheme in the state.

Adeleke made this known in his speech at the Workers’ Day celebration at Fakunle High School, Osogbo, on Thursday.

He explained that the bond was for retirees in the state and local governments.

“I have just approved, through the Office of the Head of Service, the payment of bond for retirees under the contributory pension scheme worth over N4 billion.

“Civil service parastatal, secondary schools, tertiary institutions, Uniosun Teaching Hospital retirees will get N2,175,280,322.54 while N2,098,466,528.87 will be given to local governments and primary schools retirees,” he said.

Adeleke said he was in tune with the high cost of living in the country, adding that he was aware of the economic situation.

The governor expressed commitment to the welfare of workers and residents of the state.

“As a sub national government, we have been collaborating with the Federal Government to ease the burden of economic hardship.

“As a matter of policy, we have gone out of our ways to ensure the success of federal government’s efforts.

“We back the centre to reform the national economy and ease the burden on our people.

“At the state level, our government is repositioning the state economy to service the people. We are managing state resources in various ways that no sector is left behind.

“While we are not borrowing to fund governance, we have reduced the inherited state debt by over 40 per cent. The Debt Management Office confirmed this much in its recent reports,” he said.

Adeleke said that his administration was rebuilding the state economy to benefit the people, adding that “through the government’s local content policies, our professionals, suppliers and artisans are fully engaged, Osun money is servicing Osun people.”

Mr Christopher Arapasopo, Chairman, Nigeria Labour Congress (NLC), Osun Chapter, appreciated the governor for his rancour-free and workers-friendly administration.

He commended the governor for paying salary arrears owed by past administration, approving and paying promotion areas of workers, paying N75,000 as new minimum wage, among others.

Arapasopo appealed for the provision of housing and vehicle refurbishing loan to workers, training and retraining of workers, and recruitment of more people into the civil service.

He said the 2025 Workers Day theme “Reclaiming the Civic Space in the Midst of Economic Hardship” was chosen as both a call to action and a rallying point for advocacy and change.

“This theme encapsulates the urgent need for workers to reclaim their rights, voices, and civic engagement in times of adversity,” he noted. (NAN)(www.nannews.ng)

Edited by Tayo Ikujuni

By Ginika Okoye

The Securities and Exchange Commission has warned citizens against companies that claim their registration with the Corporate Affairs Commission (CAC) and the Economic and Financial Crimes Commission (EFCC) empowers them to operate investment schemes.

The Director-General of SEC, Dr Emomotimi Agama, said this on Wednesday at a campaign against ponzi schemes in Garki Market, Abuja.

Agama regretted that some Nigerian and foreign companies specialised in defrauding citizens through ponzi schemes.

He said the government would no longer sit back and watch citizens being defrauded of their hard earned monies.

Agama said it was important that Nigerians understood the dangers of putting their money into ventures that were not registered or regulated by the SEC.

“It is disheartening that some Nigerians and foreign accompanies have specialised in duping Nigerians and government will not sit and watch them.

“This is why SEC is coming out to the people to educate them that if it is too good to be true, then watch out.

“We have seen many ponzi schemes in the past, and the Investments and Securities Act have been signed into law by the President and the law recommends N20 million fine and 10 years imprisonment for offenders of ponzi scheme.

“So, that has empowered us to be in a better position to flush out all these fraudulent investment schemes that are damaging our economy.

“CAC registration and EFCC certificate is not enough to show that the company is registered with SEC and these are red flags,” he said.

Agama said the sensitisation was to inform the people and assist them to confirm legitimate investment schemes.

He said that training programmes being organised by the fraudulent schemes to lure people were also illegal.

“As we are doing this, we have helped to educate them against being duped. CAC registration and EFCC certificate is not enough to show that the company is registered with SEC and these are red flags.

“Training programmes being organised by these people to lure people into their schemes are also illegal. Verify before you invest in any scheme, and that is our message to Nigerians.”

The Assistant Director, Enforcement Department, SEC, Tope Onwionoko, said the management of the commission was passionate about financial literacy, especially with respect to ponzi schemes that had become a scourge in the society.

“We want everybody to know about it; we want the message to go round the entire country.

“And as a start off point, we decided that it is a good thing to come to the market, because we know the place the people who trade in the market hold in the economy,” she said.

The News Agency of Nigeria (NAN) reports that SEC said the commission would take the campaign against ponzi schemes to churches, mosques, hospitals, barracks, among others. (NAN)(www.nannews.ng)

Edited by Chinyere Joel-Nwokeoma