Ict/Telecom
NITEL Workers Protest Non-Payment Of Nine Months Salaries
Workers of the Nigerian Telecommunication Commission (NITEL) staged a rally on Tuesday in Abuja in protest against the management’s failure to pay their nine months salaries.
The protesters led by Comrade Elias Kazzah, the President of the Senior Staff Association of Communication Transportation and Corporation (SSACTAC), NITEL Branch, also called for the removal of the Chief Executive Officer (CEO), Hajiya Zainab Sa’ab.
Speaking with newsmen Kazzah said NITEL staff had not received salaries for almost a year, while the management continued to spend on other things.
He explained that the presidential task-force on the restructuring of NITEL in 2010 retained 380 people as transitional staffers and made available money for payment of salaries for six months.
He said that because the restructuring could not be completed within the six months period, such staffers had to continue to work.
Kazzah, however, said it was regrettable that the staffers had to work for nine months without salaries.
“Each time we call on the management they would say there is no money.
“Unfortunately when the BPE asked for the statement of the account we discovered there is about 600 million in the account; this money can be able to cover our outstanding salary, why not pay us.
“The CEO has bluntly refused to pay us these outstanding salaries despite the availability of funds; but she has engaged on some kind of spending unnecessarily up to the tune of N800 million without considering the welfare of the workers.”
He said that members of staff and the union had been brainstorming on how to meet with the management and dialogue, stressing that it appeared that the management was not willing to resolve the issues.
Kazzah then called on the Federal Government to replace the NITEL chief executive with someone else who would have staff welfare at heart.
“It appears this woman is misfit to manage NITEL and workers are worried and are disturbed; we are left with the option to ask government to replace her with somebody who has human face.”
Kazzah said that if the issues were not resolved after due consultation, the unions would have no option than to embark on strike.
Comrade Emmanuel Adu, the National Secretary of the Union, decried that the staff have been suffering in the mist of plenty as the company currently had about N600 million.
He disclosed that it would only cost the company N35 million every month to pay workers’ salaries, adding that the N600 million could take care of the outstanding salaries of the workers.
“We cannot be suffering in the midst of plenty: this is a company that has almost N600 million in our account and our salary is N35 million per month for the staff.
“They have been using these money to go on foreign trips, embark on unnecessary projects; under one year legal fee gulped N93 million, yet you cannot pay salary.
“Enough is enough, she must pay salaries.”
Adu explained that the company had so many sources of revenue accruing to it monthly and as such does not have to rely on government to pay salaries when it can pay the salaries.
He said that the company had Sat-3 fiber optics which so many companies subscribed to as well as DOT (another service which people subscribe to)
He disclosed that the two services generated at least N100 million to the company on a monthly basis which was enough to pay staff salaries of N35 million each month.
“With these two services that we have so far, it’s enough to pay our salaries, the money is there for us to pay our salaries.
“We should not be passing the buck to federal government, we should be able to pay our salaries. NITEL must be paying their workers’ salary not federal government.”
Meanwhile, attempts to meet members of the NITEL management for comments proved abortive.
The Managing Director, Shell Nigeria Exploration and Company Limited (SNEPCo), Elohor Aiboni, said Bonga, Nigeria’s first deep-water asset, has recorded major milestones, due to effective leadership, cutting-edge technology, continuous improvement and collaboration with stakeholders.
She noted that since coming on stream in November 2005, Bonga has maintained a track record of production that saw it achieve one-billion-barrel export on February 13, last year.
In her presentation, titled “The Bonga Journey to a Billion Barrels”, at the ongoing 2024 Offshore Technology Conference in Houston, Texas, United States, Aiboni, said: “SNEPCo is grateful for the contributions of all the parties to the Bonga story and we can all be proud of the milestones.
“Bonga has been consistent. In 2014, nine years after coming onstream, it achieved half a billion barrels of crude and doubled it in 2023. We have worked relentlessly to ensure excellent asset management, project and wells delivery and deployment of technology and innovations in our operations”.
According to her, these factors, “coupled with the supportive partnership of the Nigerian National Petroleum Company Limited and our co-venturers – TotalEnergies, EP Nigeria Limited; Nigerian Agip Exploration; and Esso Exploration and Production Nigeria Limited, make Bonga stand out as a world-class investment case”.
She continued that, “SNEPCo also enjoyed the support of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Content Development and Monitoring Board (NCDMB) in the success of Bonga operations”.
Aiboni also listed the challenges of keeping the Bonga Floating Production, Storage and Offloading vessel full as the asset ages and dealing with unexpected developments with subsea wells and equipment.
She said: “SNEPCo responded with a campaign of operational excellence, which among other initiatives, led to the creation of a programme known as the Bonga Business Improvement Plan that continually reviews and identifies improvement initiatives and drives sustainability in operations and upskilling of staff.
“The Bonga success story has been led by Nigerians who have been managing directors of SNEPCo since it was established in 1993, in a deliberate policy by Shell to develop indigenous manpower for deep-water operations in Nigeria.
“Today, some 97percent of the SNEPCo workforce is Nigerian and overall, Bonga has helped to create a new generation of Nigerian deep-water professionals.
“Our vision at SNEPCo remains to be the best deep-water business, powering growth and achieving net zero emissions in line with Shell’s Powering Progress strategy”.
Banks’ borrowings from the Central Bank of Nigeria (CBN) fell month-on-month, (MoM) by 44 percent to N12.16 trillion in April from N21.7 trillion in March.
Analysis of latest data from the CBN shows that the 44percent drop represents the first MoM decline in banks borrowing from since January when it increased by 268.7 percent to N3.6 trillion from N976.29 billion in December 2023.
However, further analysis showed that banks’ deposits in the CBN SDF grew MoM by 118.4 percent to N428.97 billion in April from N196.37 billion in March 2024.
Banks make use of the SLF to access liquidity to run their day-to-day business operations while the Standing Deposit Facility window (SDF) on the other hand, is an overnight deposit facility that allows banks to lodge excess liquidity (money) with the CBN and earn interest.
The decline in banks’ borrowing from SLF may reflect an increase in banking system liquidity and also the decision of the apex bank last year to remove the limit on the remunerable daily placements by banks at the SDF.
According to the CBN Governor, Mr. Olayemi Cardoso, the CBN removed the cap on the remunerable SDF to increase activity in the SDF window and manage liquidity.
A Financial technology expert, Olatunji Akinrinola, has highlighted the exponential growth of the FinTech industry, which according to him, was driven by technological advancements.
Akinrinola made this assertion in a press release recently, where he stressed that the role of technology in driving this exponential growth in the FinTech sector was very outstanding.
According to him, Technology has revolutionised the way financial services are delivered, making them more accessible, efficient, and inclusive.
“Through innovations such as mobile banking, digital payments, and blockchain technology, FinTech companies have been able to reach a larger population and provided them with access to financial services”, he stated.
Akinrinola emphasised the role of technology in enabling financial inclusion, adding: “Technology has democratised access to financial services, particularly in regions with limited banking infrastructure.
“Mobile money platforms and digital wallets have empowered individuals to conduct financial transactions conveniently and securely, without the need for traditional banking services”.
He also underscored the role of Artificial Intelligence (AI) and data analytics in driving innovation within the FinTech industry, noting: “AI-powered algorithms and predictive analytics have revolutionised risk assessment, fraud detection, and customer personalisation in financial services.
“These technologies enable FinTech companies to provide tailored solutions and mitigate risks more effectively, ultimately enhancing the overall customer experience”.
Akinrinola stressed the importance of regulatory frameworks in fostering the growth of the FinTech industry.
“While technology has accelerated the growth of FinTech, it is essential to establish robust regulatory frameworks to ensure consumer protection and maintain market stability. Regulators play a crucial role in balancing innovation with risk management, thereby creating a conducive environment for the sustainable growth of the FinTech sector”, he stated.
Akinrinola underscored the role of technology in driving the exponential growth of the FinTech industry, saying, “Technology has been a game-changer for the FinTech sector, enabling innovation, expanding access to financial services, and driving economic growth.
“As technology continues to evolve, the FinTech industry will undoubtedly play a significant role in shaping the future of financial services ecosystem”.
Corlins Walter