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POOL SYSTEM RESTORATION: NLC Backs Serving Transport Minister, NPA 2 weeks ultimatum



POOL SYSTEM RESTORATION: NLC Backs Serving Transport Minister, NPA 2 weeks ultimatum

… As Ajaero gives MWUN more teeth to bite***

Labour issues that have dragged for long in the maritime industry will now receive timely action as the President, Nigeria Labour Congress (NLC), Comrade Joseph Ajaero gives his full backing to the Maritime Workers Union of Nigeria (MWUN) to issue ultimatum on such pending labour issues.  

POOL SYSTEM RESTORATION: NLC Backs Serving Transport Minister, NPA 2 weeks ultimatum
POOL SYSTEM RESTORATION: NLC Backs Serving Transport Minister, NPA 2 weeks ultimatum
POOL SYSTEM RESTORATION: NLC Backs Serving Transport Minister, NPA 2 weeks ultimatum
POOL SYSTEM RESTORATION: NLC Backs Serving Transport Minister, NPA 2 weeks ultimatum
POOL SYSTEM RESTORATION: NLC Backs Serving Transport Minister, NPA 2 weeks ultimatum

The NLC President who was reacting to the welcome address of MWUN President General, Comrade Adewale Adeyanju, specifically pointed to the issue of restoration of registered onboard ship gangway security and tally men (Pool System) which had been on the table, since August 2021.

Comrade Ajaero said the letter sent to the Minister of Transportation is getting to two years without response and advised that a two-week ultimatum be issued, to press the matter further.

He lamented that workers have suffered enough in the country and called for more action to press home workers’ demands.

The NLC President was on a courtesy visit to the MWUN head office in Apapa, Lagos.

In order for NLC to achieve success in its demands, he disclosed that a Picketing Committee of hefty men would be set up, to picket organisations that fail to meet workers’ demands, saying that the era of workers producing wealth and employers carrying everything away is over.

Earlier in his speech, Comrade Adeyanju said that the NLC President’s visit meant a lot to the union as his “skills will without a doubt restore workers’ movement to its rightful place in the scheme of our nation’s polity”, he said, emphasizing that because of Ajaero’s incredible diligence, “we feel assured of good tidings for every Nigerian worker.”

Praising the NLC President for his track record, Adeyanju stated that MWUN is sure of his capacity to do a thorough job of guiding the union from straying away from the right path.

He assured Ajaero of MWUN’s commitment and unwavering support for his administration and the vision of hope he brought to the Nigerian working class and allies.

However, he also highlighted some challenges MWUN is presently facing in the maritime industry, which include:

* 10C’s blatant refusal to obey government marine notice 106 of 2014 and extant stevedoring regulations.

* Refusal to pay aged seafarers monthly pension in spite of court ruling.”The issue of payment of pension to Aged Seafarers in compliance with a subsisting court order is one we recommend for your urgent attention and to be prioritised. The issue has lingered for too long in spite of a subsisting court ruling which demands that they be paid pension”, he pointed out.

*Restoration Of Registered Onboard Ship gangway

security and tally men = (Pooling System). 

The presence of onboard ship gangway men and tally clerks in port operation Is statutory. This is supported by the dock labour rule of 1967, the National dock labour board established by decree No. 13 of 1979, the Maritime Labour Act, 2003, part ix, this position is further supported by the NIMASA Act, Part Vil = Maritime labour.

“On this note, MWUN had earlier forwarded a letter dated 5″ August 2021 to the Honourable Minister of Transportation to demand the restoration of the Pool System for registered on-board gangway security men and tally men we believe it is receiving attention”.

 *Address the need to awaken the dredging OF Calabar, Warri and Port Harcourt Ports.

*Issuance Of Seafarers Identity Documents (S.1.D) to seafarers.

*Need to ensure that a minimum standard Condition of Service is put in place for our members in the shipping sector as is the practice for the Nigerian Ports Authority, Dock Labour and Seafarers.

“We wish to inform you, Sir, that the contract of the terminal operators has long expired and has not been renewed by the authorities. This has put the fate of our members in a state of uncertainty and unwarranted suffering. We, therefore, seek your intervention.” 

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Super Eagles beat hosts Guinea Bissau, to reclaim Group ‘A’ leadership



Super Eagles beat hosts Guinea Bissau, to reclaim Group 'A' leadership

The Super Eagles on Monday in Bissau beat hosts Guinea Bissau 1-0 to reclaim leadership of Group A in the 2023 Africa Cup of Nations (AFCON) qualifiers.

Moses Simon’s penalty kick after 29 minutes gave the Nigerian senior men’s football team the needed win to move to nine points after four matches.

They have now upstaged from the apex position Guinea Bissau who toppled them on Friday in Abuja with a 1-0 win.

Guinea Bissau is with seven points from four matches and in second place, ahead of Sierra Leone who has five points from four matches.

Nigeria is expected to now face the Leone Stars of Sierra Leone in a Match Day 5 fixture.

 Details later  

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Banking & Finance

NGX: Investors Lose N622bn, as NCR Nigeria, Unity Bank lead Losers’ chart



NGX: Investors Lose N622bn, as NCR Nigeria, Unity Bank lead Losers’ chart

The domestic stock market on Nigeria Exchange Ltd. (NGX) continued on a negative note as the market capitalisation on Monday dropped by N622 billion amid sustained profit-taking activities.

Accordingly, investors lost N622 billion in value as market capitalisation declined to  N29.281 trillion from N29.903 trillion recorded at the previous session.

The All-Share Index (ASI) fell by 1,141.76 points, representing a decline of 2.08 percent, to close at 53,750.77 points as against the 54,892.53 posted on Friday.

Consequently, the ASI’s year-to-date (YTD) return fell to 4.88 percent.

The downturn was impacted by losses recorded in large and medium capitalised stocks, amongst which are; Airtel Africa, Seplat Energy, MTN Nigeria Communications (MTNN), Nigerian Breweries and Lafarge Africa.

“We expect risk-on sentiments to be sustained in the equities markets even as the depressed interest rate environment will continue to favour the local bourse in line with our expectations for Q1, 2023.

“Taking positions in stocks with solid valuations and dividend yields ahead of the dividend-paying season remains the choice strategy.

“However, we see room for extended profit-taking activities,” Analysts at United Capital Plc said.

The market breadth was negative as 21 stocks lost relative to five gainers.

Courteville Business Solutions recorded the highest price gain of 6.67 percent to close at 48k per share.

NPF Microfinance Bank followed with a gain of 2.7 percent to close at N1.90 and AIICO Insurance up by 1.75 percent to close at 58k per share.

FBN Holdings (FBNH) rose by 0.92 percent to close at N11, while Zenith Bank gained 0. 2 percent to close at N25 per share.

Conversely, NCR Nigeria led the losers’ chart by 9.79 percent to close at N2.12, per share.

Unity Bank followed with a decline of 9.43 percent to close at 48k, while Prestige Assurance declined by 8.89 percent to close at 41k, per share.

SUNU Assurance declined 8.33 percent to close at 44k, while Multiverse Mining and Exploration and Airtel Africa shed 8.31 percent each to close at N2.98 and N1,420 respectively per share.

Also, the total volume traded decreased by 26.66 percent to 100.883 million units, valued at N4.342 billion and exchanged in 3,279 deals.

Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 12.836 million shares valued at N318.513 million.

Zenith Bank followed with 11.920 million shares worth N297.982 million, while United Bank for Africa (UBA) traded 10.038 million shares valued at N80.242 million.

MTNN traded 8.264 million shares valued at N1.927 billion, while FBNH transacted 7.719 million shares worth N84.577.

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MARITIME SAFETY: NIMASA, NCC Close Ranks On Submarine Cable Regulation In Nigeria



MARITIME SAFETY: NIMASA, NCC Close Ranks On Submarine Cable Regulation In Nigeria

…Jamoh reiterates  commitment to Ease of Doing Business 

The Nigerian Maritime Administration and Safety Agency, NIMASA, and the Nigerian Communications Commission (NCC) have agreed to work closely with relevant stakeholders as the Agency inches closer to developing a regulatory framework to provide operational guidelines for Submarine Cable and Pipeline Operators in Nigeria. 

Officials of both organs of Government in Lagos reached this agreement at a pre Audit meeting on submarine cable regulation.

The Director General of NIMASA Dr. Bashir Jamoh, OFR, who chaired the meeting, which also had the Director General of Bureau of Public Service Reforms (BPSR) Mr. Dasuki Arabi in attendance, noted that the Agency is committed to the Ease of doing Business while implementing International Conventions which Nigeria has ratified and domesticated. 

He noted that with Nigeria now a destination for global communication players, the time has come to prevent unregulated underwater cable laying, which might become hazardous to shipping.

According to him, “It is worthy to note that marine cable laying has been ongoing for over two decades in Nigerian waters. Our focus is to ensure safety of navigation of shipping in Nigerian waters with all these underwater cables being laid.

NIMASA is actually developing the guidelines to regulate submarine cable operators in line with the provisions of the United Nations Convention on the Law of the Sea, UNCLOS; which we have ratified and NIMASA is the Agency of Government in Nigeria responsible for its implementation. We do not just implement laws; we consult. Where the responsibility of an Agency stops, that is where the responsibilities of another Agency start. Collaboration is a key component of ease of doing business in the best interest of the country and we will work closely with the NCC to achieve this”.

On his part, the Executive Vice Chairman of the NCC, Professor Umar Garba Danbatta who was represented by the Director, Compliance Monitoring and Enforcement, Efosa Idehen noted that the stakeholders’ dialogue strategy adopted by NIMASA in developing the guidelines would ensure a win-win situation urging NIMASA management to include the Ministry of Justice, a request NIMASA DG immediately granted.

Also speaking at the meeting was the Director General of the Bureau of Public Service Reforms Mr. Dasuki Arabi, who commended NIMASA and NCC for adopting effective Inter-Agency collaboration to avert a potential challenge for the country in the future.

NIMASA had notified submarine and cable operators in Nigeria of a soon-to-be-implemented regulatory guideline for submarine cables and pipelines in Nigeria, in line with the provisions of UNCLOS. NIMASA and the NCC agreed to identify and resolve areas of likely regulatory overlaps, ensuring a regulatory framework based on consultation to engender the attainment of Nigeria’s digital economy transformation.

Officials of the Federal Ministry of Environment and representatives of Submarine Cable operators in Nigeria were also at the meeting.

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