The Central Bank of Nigeria’s (CBN) plans to increase total micro-credits and the circulation of dirty Naira notes are some of the leading stories in newspapers on Monday.
The Sun said that in a bid to increase access to financial services for the nation’s economically active poor, enhance job creation and reduce poverty, the Central Bank of Nigeria (CBN) said it would be targeting increase in total micro-credits to at least 20 percent by 2020.
The Nation newspaper reported that a large proportion of the N7.9 trillion pieces of naira notes in circulation are dirty, mutilated, unfit for Automated Teller Machines (ATMs) and over-the-counter payments.
The CBN’s Deputy Governor, Operations Folashodun Shonubi and Director, Currency Operations Department, Mrs. Pricilla Eleje, spoke of plans to withdraw such notes from circulation.
The Punch said there are strong indications that the state chapters of the Nigeria Labour Congress will as from May 1 begin talks with their state governments on the implementation of the N30,000 minimum wage recently approved by President Muhammadu Buhari.
The Guardian reported that crisis is brewing in Bayelsa State over a bill passed by the House of Assembly approving life pension for all past and current members of the legislature.
It was learnt that stakeholders in the state, including civil society organisations and political parties are preparing to protest.
The Vanguard said the economy of Nigeria, over the weekend, witnessed a major setback as consumers – individuals, households, companies and others experienced prolonged power outages, following a huge drop of power supply from 4,000 megawatts to 2,039 mw.
The Leadership said that six months after the traditional ruler, the Agom Adara chiefdom in the crisis-torn Kajuru local government area of Kaduna State, Dr. Maiwada Galadima, was abducted and killed by criminals, operatives of the Nigeria Police Force (NPF) have arrested the prime suspect and 17 others in connection with the sad incident and similar offences.
MM/GIK/APA