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JUST IN: NLC, TUC Declare Mass Action to ‘Shut Down Nation’ From Oct 3
By ABUBAKAR YUNUSA
The Nigeria Labour Congress (NLC) and the Trade Union Congress (TU ) have directed their members and affiliate bodies to start a mass action on October 3, as a protest against the state of the nation.
The labour unions announced the decision in a communique issued at the end of virtual meetings of their respective national executive councils.
The organisations said they have decided “in the spirit of the Independence Day celebration and to demonstrate our resolve for a truly independent Nigeria to take our destinies in our own hands and rescue our nation”.
“To embark on an indefinite and total shutdown of the nation beginning on zero hours Tuesday, the 3rd day of October 2023,” the communique reads
“To direct all workers in Nigeria to withdraw their services from their respective workplaces commencing from the 3rd of October.
” To direct all affiliates and state councils to immediately start mobilizing accordingly for action to organize street protests and rallies until the Government responds positively to our demands.”
Early this month, NLC embarked on a two-day warning strike over the impact of the removal of the petrol subsidy on the masses.
Workers in some states fully complied with the strike order as activities in government institutions were grounded, while partial compliance was observed in some states.
The NLC had vowed to proceed on an indefinite strike after a 21-day ultimatum which expired on September 26.
Deposit Money Banks (DMBs) have raised their short message service (SMS) alert charges by 50 per cent with effect from today, May 1.
Among the banks are Guaranty Trust Bank, Ecobank as well as others that have informed their customers of the increase of the charges to N6 per one SMS.
While GTBank announced a 50 per cent increase in its SMS transaction alert fee from N4 to N6 per message, citing changes in telecom service rates, Ecobank said it increased its cost of SMS alerts to N6 from N5.
The hike was announced in an email sent to its customers yesterday, citing a “revised tariff” for the change. “We understand that this change may cause some inconvenience and want to assure you that the decision was made after careful consideration. We remain committed to delivering the best possible service and sincerely appreciate your understanding and continued support,” the email stated.
The increase came after recent tariff hikes after the Nigerian Communications Commission (NCC) approved a 50 per cent adjustment to end user tariffs of telecom services in the country. Telecom operators had jerked up prices for data and voice calls in February, citing rising operation costs in the country. Although financial institutions rely on SMS to notify customers of account transactions, many offer email alerts as a free alternative.
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In a message to customers, GTBank said the increase is due to the recent increase in telecom rates as communicated by the telecommunication service providers. “Please be informed that effective Thursday, May 1, 2025, the SMS transaction alert fee will increase from N4 to N6 per message. This adjustment is due to a recent increase in telecom rates as communicated by the telecommunication service providers,” it noted.
GTBank noted the importance of SMS transaction alerts for monitoring account activities and enhancing security, while also offering customers the option to opt out if preferred.
“Kindly note that transaction alerts are important and help you keep track and stay in control of activities on your account,” the bank said.
The SMS alert system allows customers to receive real-time notifications of activities on their accounts, helping them monitor any unauthorised or suspicious transactions. Customers who no longer wish to receive transaction notifications via SMS are allowed to opt out.
“If you prefer not to receive transaction alerts via SMS, you can update your preferences by completing the transaction alert form on our website and sending it to gtbankmailsupport@gtbank.com,” the notification read.
Telecom operators in Nigeria, such as MTN, Airtel, Globacom and 9mobile, have faced financial pressures due to rising energy costs, and the depreciation of the naira, which has made importing infrastructure more expensive.
Additionally, frequent disruptions to fibre-optic cables have led to substantial losses. Despite these financial strains, telecom tariffs in Nigeria had remained unchanged for over a decade.
In response to these rising costs, telecom operators petitioned the NCC for a 100 per cent increase in tariffs. However, the NCC approved a more moderate 50 per cent hike, aimed at balancing the financial sustainability of the operators with consumer affordability.
The approved 50 per cent increase has had a noticeable impact on telecom pricing. For example, SMS charges have risen from N4 to N6 per message. In addition, data plans have also seen significant price hikes. MTN’s 1.8GB monthly plan, for instance, increased from N1,000 to N1,500, while the 20GB plan saw a rise from N5,500 to N7,500.
Vincent Olatunji, national commissioner of the Nigeria Data Protection Commission (NDPC), says Nigeria will join the global cross-border privacy rules (CBPR) forum as an associate member to strengthen accountability in data transfers.
The Global CBPR Forum enables trusted data flows globally through international data protection and privacy certifications.
Speaking during a press conference in Abuja on Wednesday, ahead of the Network of African Data Protection Authorities (NADPA-RAPDP) conference, Olatunji said the CBPR framework would give indigenous data protection compliance organisations “more options for cross-border data transfer”.
Olatunji also said the framework will ensure that protections enshrined under the Nigeria Data Protection Act (NDPA) are strictly enforced.
“Joining the CBPR Forum will allow Nigeria to observe the procedure for ensuring accountability during international data transfers, giving our organisations the opportunity to align with global standards,” he said.
The data protection chief also said the country is setting up a strategic task team of stakeholders to strengthen safe cross-border data transfer and maximise data’s beneficial use for national development.
‘NADPA-RAPDP CONFERENCE A VOTE OF CONFIDENCE IN NIGERIA’S DATA’
Olatunji added that Nigeria’s hosting of the NADPA-RAPDP conference is a vote of confidence in its growing data governance ecosystem—a status bolstered by President Bola Tinubu’s enactment of the Nigeria Data Protection Act in June 2023.
The conference, ‘Balancing Innovation in Africa, Data Protection and Privacy in Emerging Technologies,’ will be held from May 6 to 8.
According to Olatunji, the event will attract participants from over 30 African countries and representatives from Asia, Europe, the Middle East, and North America.
“The progressive nature of this enabling Act endeared Nigeria to the international community, opened new vistas of growth for our digital economy, and has helped Nigeria secure crucial funding for strategic developmental initiatives,” he said.
“The conference will feature 15 strategic events, including a white paper launch on Nigeria’s data management ecosystem and exhibitions by public and private sector players. Global tech giants, including Google, Amazon, Huawei, Meta and Microsoft, support the event alongside local financial institutions like Access Bank, GTBank and Zenith Bank.
“Sessions will focus on topics such as artificial intelligence, data protection in fintech, privacy and regulation, and preparing the next generation of privacy professionals in Africa.”
Olatunji expressed gratitude to the federal government, partners like the European Union and World Bank, and the Association of Licensed Data Protection Compliance Organisations of Nigeria for their support.
“The opportunity for international cooperation created by the NADPA-RAPDP event is one in a continuum of measures we are taking to foster trust and confidence in Nigeria’s economy,” he said.
Christine Harbaugh, the United States (US) Embassy’s acting deputy chief of mission in Nigeria, said Nigeria’s decision to join the GBPR Forum was a significant milestone.
“By joining the CBPR Forum as an associate member, Nigeria is sending a clear message to the world: it is open for digital business,” Harbaugh said.
“The immense potential that the digital economy holds for Nigeria is undeniable. This move underscores an important step in creating an enabling environment that fosters innovation, growth, and collaboration.
“By beginning the process of aligning with the CBPR Forum, Nigeria is further solidifying its position as a global hub for digital business and innovation.
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“This move tells the U.S. and global tech companies and investors that the Nigerian market presents tangible global opportunities.”
Harbaugh also said the decision to join the CBPR Forum will open new avenues for commercial opportunities between U.S. and Nigerian companies.
Find below, the Dollar to Naira exchange rate for today, 01 May 2025.
ELANZANEWS has obtained the official dollar to the naira exchange rate in Nigeria today, including the Bureau De Change (BDC) rate and CBN rates.
What Is The Official Exchange Rate For Dollar To Naira Today?
The exchange rate between the Naira and the US dollar according to the data released by the Central Bank of Nigeria (CBN), the official forex trading portal showed that the naira traded for ₦1596.68 per dollar on Wednesday , April 30th 2025 from N1,599.70 per dollar on Tuesday , April 29th 2025.
However, the Naira is trading as high as ₦1,610 per Dollar at the black market even though the Central Bank of Nigeria (CBN) announced the unification of all segments of the foreign exchange market.
The apex bank, in a circular on Wednesday 14th June 2023, said all FX windows were now collapsed into the investors & exporters (I&E) window.
The statement read, “Abolishment of segmentation. All segments are now collapsed into the Investors and Exporters (I&E) window. Applications for medicals, school fees, BTA/PTA, and SMEs would continue to be processed through deposit money banks.
“Re-introduction of the “Willing Buyer, Willing Seller” model at the I&E Window. Operations in this window shall be guided by the extant circular on the establishment of the window, dated 21 April 2017, and referenced FM/DIR/CIR/GEN/08/007. All eligible transactions are permitted to access foreign exchange at this window.
“The operational rate for all government-related transactions shall be the weighted average rate of the preceding day’s executed transactions at the I&E window, calculated to two (2) decimal places.
“Proscription of trading limits on oversold FX positions with permission to hedge short positions with OTC futures. Limits on overbought positions shall be zero.
“Re-introduction of order-based two-way quotes, with bid-ask spread of N1. All transactions shall be cleared by a Central Counter Party (CCP).
“Reintroduction of Order Book to ensure transparency of orders and seamless execution of trades.
“The operational hours of trades shall be from 9 a.m to 4 p.m, Nigeria time.”
The apex noted that further guidance on the operational changes would be communicated to authorized dealers and the general public in due course.
The changes to operations in the country’s FX market imply that Nigeria has eased its control of the naira, allowing the local currency to float freely.
Meanwhile, a free-floating exchange rate occurs when a government allows the exchange rate to be determined purely by market forces and there is no attempt to ask the central bank to influence the external value of the exchange rate.