LAGOS HOTEL, 3 OTHER PROPERTIES FORFEITED BY DRUG KINGPINS AUCTIONED AT N6.1BILLION.(PHOTOS). #PRESS RELEASE.

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 Lagos hotel, 3 other properties forfeited by drug kingpins auctioned at N6.1billion *- It’s a clear message that cartels won’t be allowed to enjoy proceeds of their criminal trade, says Marwa*  A Lagos hotel and three other properties seized from drug kingpins by the National Drug Law Enforcement Agency (NDLEA) and forfeited to the Federal Government through court processes have been auctioned for the sum of Six Billion One Hundred and Forty- Eight Million Nine Hundred and Sixty-Four Thousand Naira (N6,148,964,000.00) only. This was the outcome of a competitive bid process for the sale of eight assets forfeited by drug barons in parts of the country. While bidders who offered above reserved prices emerged winners of four of the listed properties, bids for four others failed because none offered up to the reserved prices. Announcing the winning bids at the bid opening ceremony attended by representatives of ICPC, Civil Society Organisations, auctioneers and bidders at the NDLE...
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ANY AMOUNT ABOVE N62K AS MINIMUM WAGE WILL CREATE JOB LOSSES- NECA. (PHOTO).

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 Any amount above ₦62k as minimum wage will create job losses - NECA


The Nigeria Employers Consultative Association (NECA) says any amount above ₦62,000 approved as a minimum will create job losses.


Adewale-Smatt Oyerinde, Director-General of NECA said this while speaking with journalists on Tuesday in Abuja.


He spoke on the sidelines of the third edition of the Nigeria Employers Summit with the theme, “Economic Renaissance: Harnessing Government Reforms and Private Sector Agility,”


Oyerinde said that the organised private sector cannot afford above ₦62,000 as agreed during the tripartite committee negotiation meetings.


According to him, any figure above ₦62,000 will create two different dynamics – setting the tone for non-compliance and attendant litigations -.


He stressed that setting a national minimum wage that will take away the ability to pay will set the stage for litigation and crisis.


On the allegation of delay in the process, Oyerinde said that there was no delay as the process was ongoing, accordingly.


“There is no waiting game and I think we have to put all this in context. It is misinformation,’ he said.


He said after the tripartite committee recommends to the President, a bill is expected to be sent to the national assembly for legislation.

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