President Bola Tinubu says he is open to the idea of a “living wage” for Nigerian workers.

In a message to mark International Workers Day celebration at the Eagle Square, Tinubu, who was represented at the event by Vice-President Kashim Shettima, hailed Nigerian workers for their fidelity to the peace, progress, and development of the nation.

He also said the tripartite committee on a new minimum wage was yet to reach a resolution before May Day.

“You would recall that on January 30th, 2024, the Federal Government convened a 37-member Tripartite Committee on Minimum Wage,” the president said.

“The committee’s mandate was to provide counsel and suggest a national minimum wage that aligns with our current economic conditions.

“Since then, the committee, in collaboration with labour leaders, has been diligently working towards proposing a new National Minimum Wage.

“Unfortunately, despite concerted efforts, the committee was unable to reach a consensus at its last meeting. This shall be resolved soon and I assure you that your days of worrying are over.”

Organised labour has insisted on a new living wage for workers. In his address, Tinubu said he is open to the idea of a living wage, as opposed to a minimum wage.

“Indeed, this government is open to the committee’s suggestion of not just a minimum wage but a living wage,” the president added.

The president also asked workers to trust his administration.

“Great Nigerian Workers, we cannot achieve a just and equitable society that caters to the needs of every member, including the strong and the weak, without fostering peace and unity,” he said.

“Our shared vision for national growth and development can only be realised in an atmosphere of industrial harmony and peaceful coexistence in every segment of our country.

“Dividends we have promised the nation, and which you work tirelessly to ensure, can only be achieved when we all unite for progress.

“On this momentous day, I urge you and all our fellow citizens to place your trust in this administration. The seeds of greatness planted in our nation are beginning to bear fruit, and they promise a future filled with hope and bound by prosperity.

“Let me assure you, with the utmost sincerity, that every initiative undertaken by this administration is geared towards transforming Nigeria into a nation that can truly provide for its people.

“So, I call upon each and every one of you, as I have consistently done, to join hands in shaping the destiny of our nation towards greatness.

“Our allegiance and patriotism are the bedrock upon which our beloved country thrives. The success of our government’s policies and programmes hinges on the willingness of the workers, as the backbone of our workforce, to embrace them wholeheartedly.

“I appeal to you to continue using the power of the labour movement for the greater good of our nation, fostering harmony and cooperation.

“Once more, I extend my heartfelt congratulations on this successful Workers’ Day celebration, and I wish you all joyous festivities.”

Changpeng Zhao, the founder of Binance, has been sentenced to four months in prison for money laundering, unlicensed money transmitting and violations in Seattle, United States (US).

At a sentencing hearing on Tuesday, Richard Jones, the presiding judge, said Zhao put “Binance’s growth and profits over compliance with US laws and regulations”.

According to US officials, Zhao intentionally turned a blind eye to transactions that financed terrorism, the illegal drug trade, and child sex abuse.

“I failed here. I deeply regret my failure, and I am sorry,” Zhao told the court.

“I believe the first step of taking responsibility is to fully recognise the mistakes. Here I failed to implement an adequate anti-money-laundering programme. I realise now the seriousness of that mistake.”

The four-month sentence is lower than the three years prosecutors sought.

Prosecutors told the judge a tough sentence would send a clear signal to other would-be criminals.

“We are not suggesting that Mr. Zhao is Sam Bankman-Fried or that he is a monster,” Kevin Mosley, one of the prosecutors, said.

“But Zhao’s conduct wasn’t a mistake. This wasn’t a regulatory ‘oops.”

On November 21, 2023, Zhao pleaded guilty to money laundering.

Binance also agreed to pay more than $4 billion in fines and other penalties.

Meanwhile, Binance subsidiary in Nigeria is facing charges for illicit foreign exchange (FX) transactions.

Nadeem Anjarwalla, Binance’s regional manager for Africa, and Tigran Gambaryan, its head of financial crime compliance, were charged with tax evasion and money laundering by the federal government.

The duo were arrested and detained on February 28.

However, Anjarwalla escaped custody in March.

Zhao’s sentence is coming less than one month after Sam Bankman-Fried, former CEO and founder of Futures Exchange (FTX), was sentenced to 25 years in prison after being convicted of defrauding his customers, investors, and lenders.

1. The Federal Government has announced free passenger train ride for four days on the rehabilitated Port Harcourt to Aba railway. The Permanent Secretary, Ministry of Transport, Oloruntola Oluremi, said the free train ride would be from 1st to May 4th.

2. The Federal Government has approved a significant salary increase for civil servants across various sectors. Head of Press at the National Salaries, Incomes and Wages Commission, NSIWC, Emmanuel Njoku, announced this at a briefing in Abuja on Tuesday.

3. The resumption of the Senate from its Easter and Sallah break on Tuesday was almost enmeshed in a rowdy session as senators literally fought over seats. It was later learnt that the commotion was occasioned by the new seating arrangement for Senators in the newly renovated main chamber.

4. Two undergraduates of Edo State government-owned, Ambrose Alli University, AAU, Ekpoma have been shot dead in a cult reprisal attack. It was gathered on Tuesday that one of the victims, SUG’s official, was a 400-level student in the Faculty of Agriculture, and was killed at the Poultry Road Extension in Ekpoma.

5. The Federal Government, on Tuesday, announced that it was set to issue a fully valid operating licence to the 650,000 barrels per day capacity Dangote Petroleum Refinery. It announced this at the Stakeholders’ Consultation Forum on Midstream and Petroleum Host Community Development Trust Regulations organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in Abuja.

6. A yet-to-be-identified pregnant woman and eight others sustained varying degrees of injuries following a gas explosion that occurred at Alaba Lane, Alayabiagba Community, in the Ajegunle-Apapa area of Lagos State. It was gathered that the incident occurred on Tuesday at about 12:39 pm.

7. Gunmen, again, on Monday night, reportedly invaded the Bmuko Community, in the Dutse Baupma axis of the Bwari Area Council of the Federal Capital Territory, kidnapping four residents in the area. A resident of the community, Mr Isah, who spoke to newsmen on Tuesday, said the gunmen arrived in the community at about 11:50 pm on Monday.

8. Oil dealers under the aegis of the Independent Petroleum Marketers Association of Nigeria, on Tuesday, declared that it would shut down the 30,000 stations operated by IPMAN members across the country if the Federal Government fails to pay the N200bn it owes marketers.

9. Former Vice-President Atiku Abubakar has sympathised with Nigerian workers, saying they have worked for a government with policies against their welfare. He said this in an International Workers Day message to Nigerian workers. He said the plight of the Nigerian worker remains dire.

10. Three members of a notorious gang of robbers who operate on the Otedola Bridge, Lagos, have been arrested in connection with the recent attack on the Divisional Police Officer, DPO of Alausa, CSP Abaniwonda Tokunbo. The DPO was said to have been stabbed at the back and her phone snatched during the attack.