The federal government has approved the increase of the monthly allowance for Corps Members from N33,000 to N77,000, The Guardian can report.

A statement on Wednesday night by the Acting Director, Information and Public Relations of the Corps, Caroline Embu, said this will take effect from July 2024.

According to the statement, the increase is in line with the enactment of the National Minimum Wage (Amendment) Act 2024.

It revealed that a letter from the National Salaries, Incomes, and Wages Commission, dated September 25, 2024, and signed by the Chairman, Ekpo Nta, has been communicated to the NYSC leadership.

“Prior to this, the Director General of NYSC, Brigadier General YD Ahmed, had paid an advocacy visit to the Chairman, in which he solicited for a robust welfare package for Corps Members.

“The NYSC Boss is thankful to the Federal Government for the timely gesture and is optimistic that it will not only bring much-needed succor to the Corps Members but also boost their morale and motivate them to do even more in their service to the nation,” the statement read.

An executive bill seeking to amend the National Identity Management Commission (NIMC) Act is to be forwarded by President Bola Tinubu to the National Assembly.

The bill seeks to provide that everybody living in Nigeria, including foreigners must be registered and given the National Identity Number (NIN) so that they can be taxed.

This is part of the economic stabilization bills approved during the Federal Executive Council meeting held on Monday.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this while briefing State House correspondents at the Presidential Villa Abuja on Wednesday alongside the Senior Special Assistant to the President on Digital Strategy, Engagement and Communications, O’tega Ogra.

Onanuga said the economic stabilization bills which are about twenty in number also include bills to amend the Acts establishing the Nigerian Port Authority and the Nigerian Maritime Administration and Safety Agency (NIMASA).

According to him, the two bills seek to ensure transactions by the two agencies are paid for in Naira.

He said the decision is part of measures by Tinubu’s administration to promote the national currency and reduce the dollarization of Nigeria’s economy.

Also included in the economic stabilization bills is a tertiary education amendment bill 2024, including an amendment to the Tertiary Education Trust Fund (TETFUND) Act.

The new bill according to Onanuga, when passed into law, will ensure that 30 per cent of TETFUND’s income goes into the Nigerian Education Loan Fund while only 5 per cent of used for TETFUND’s operations.

President Bola Tinubu has expressed a desire to reshuffle his cabinet.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, confirmed this to State House correspondents on Wednesday at the Presidential Villa, Abuja.

He noted that contrary to insinuations in some quarters, the current government has recorded significant achievements in its quest to transform the economy, of which members of the public are unaware.

Onanuga noted that Tinubu has ordered his ministers to ensure they engage the public by publicising what the government is doing in their various ministries.

He said, “I don’t have any timeline. The President has expressed his desire to reshuffle his cabinet and will do it. I don’t know whether he wants to do it before October 1, but he will surely do it.”

Explaining further the reason for Tinubu’s decision, the Senior Special Assistant to the President on Digital Strategy Engagement and Communications, O’tega Ogra, said it is based on empirical evidence.

Ogra noted that during the retreat that was organised for the ministers shortly after their inauguration in August 2023, Tinubu made it clear that there would be periodic reviews of their performance and that the review would guide the President’s decision.

The Academic Staff Union of Universities has issued a 14-day strike warning ultimatum to the Federal Government to resolve some lingering issues dating as far back as 2009.

ASUU President, Emmanuel Osodeke in a statement issued on Wednesday, said the body is seeking the conclusion of the renegotiation of the 2009 FGN/ASUU Agreement based on the Nimi Briggs Committee’s Draft Agreement of 2021.

It also demanded the release of withheld salaries due to the 2022 strike action, and expressed frustration with the government’s lack of commitment and delay tactics.

It stated that these actions were generating a crisis in the public university system.

“In view of the foregoing, ASUU resolves to give the Nigerian Government another 14 days, in addition to the earlier 21 days, beginning from Monday, September 23, 2024, during which all the lingering issues must have been concretely addressed to the satisfaction of the membership of the union.

“The union should not be held responsible for any industrial disharmony that arises from the government’s failure to seize the new opportunity offered by ASUU to nip the looming crisis in the bud,” ASUU said

ASUU is also demanding the release of unpaid salaries for staff on sabbatical, part-time, and adjunct appointments affected by the Integrated Payroll and Personnel Information System, and the payment of outstanding third-party deductions such as check-off dues and cooperative contributions.

It added that it wants funding for the revitalisation of public universities, partly captured in the 2023 Federal Government Budget, and the payment of Earned Academic Allowances partly captured in the 2023 Federal Government Budget.

Other issues include the proliferation of universities by Federal and State Governments, the implementation of the reports of visitation panels to universities, the reversal of the illegal dissolution of Governing Councils, and the adoption of the University Transparency and Accountability Solution as a replacement for IPPIS.

The US Department of Justice filed an antitrust lawsuit against Visa on Tuesday, alleging the company illegally maintains a monopoly over debit card networks in the United States.

According to the lawsuit, filed in a federal court in New York, Visa’s practices have resulted in billions of dollars in additional fees for American consumers and businesses while slowing innovation in the debit payments ecosystem.

The lawsuit comes after years of probes by the US antitrust enforcers into Visa’s business practices.

“We allege that Visa has unlawfully amassed the power to extract fees that far exceed what it could charge in a competitive market,” Attorney General Merrick Garland said in a statement.

Visa, according to the lawsuit, charges roughly $8 billion in network fees on US debit volume annually. Globally, Visa processes $12.3 trillion in total payment volume.

The Justice Department claims Visa imposes exclusionary agreements on merchants and banks, penalizing customers who route transactions through different networks or alternative payment systems.

It also claims that Visa sought to neutralize potential threats from technology companies and fintech startups by entering into partnership agreements rather than allowing them to compete directly.

Visa also imposes transaction volume commitments that effectively penalize merchants and banks for using competitors, the Justice Department alleges, even when those competitors offer lower prices.

Through these tactics, Visa maintains an “enormous moat” around its business, helping it earn big profits.

Headquartered in San Francisco, Visa reported a global operating income of $18.8 billion and an operating margin of 64 percent in 2022.

The company’s North American operations boasted an 83 percent operating margin in the same year.

The United States said Tuesday it will waive visa requirements for citizens of Qatar, making the close Gulf partner the first Arab country to clear the hurdle.

The energy-rich Gulf monarchy cleared the “stringent security requirements” to become the 42nd member of the visa waiver program, the Department of Homeland Security announced.

The agreement “will deepen our strategic partnership and enhance the flow of people and commerce between our two countries,” Secretary of State Antony Blinken said in a statement.

Qatar — where citizens make up a small minority of residents — has been jockeying with fellow wealthy Gulf Arab states for a greater global role.

Home to a major US air base, Qatar has taken a lead in so far unsuccessful efforts to mediate a Gaza ceasefire and earlier helped the United States fly out thousands of Afghan allies as the Taliban seized control.

US officials said they were open to other Gulf Arab nations eventually entering the program.

The countries whose citizens are exempt from US visas are overwhelmingly wealthy and mostly in Europe and East Asia.

The United States last year added Israel after years of friction.

To enter the program, Israel made promises not to discriminate against its admission of US citizens of Palestinian or other Arab descent.

Under the waiver program, citizens apply online for pre-clearance to enter the United States rather than going through the paperwork and expense of a visa.

Some applicants are still told to seek a visa, including if they have visited a number of countries with adversarial relationships with the United States, such as Iran.