Hello and welcome! In today’s trending news stories;
1. The National Labour Congress (NLC) has announced that the ongoing nationwide strike will persist despite an accord reached with the Federal Government during a meeting on Monday. The strike was called by the NLC and Trade Union Congress (TUC) after negotiations with the government over a new minimum wage came to an impasse. The unions had initially proposed a new minimum wage of N615,000 but later settled for N419,000. However, the government insisted on paying N60,000, which the unions deemed unsustainable. After the meeting on Monday, the federal government signed a resolution agreeing to pay above the N60,000 minimum wage proposed. This appeared to signal an imminent end to the strike. However, the NLC has stated that the strike will continue until their organs meet and reevaluate the resolutions from the previous day’s meeting. Following the strike declaration, several organizations, like United Nigerian Airlines have been grounded. The Transmission Company of Nigeria (TCN) also reported that the national grid system dropped to zero megawatts on Monday morning due to the complete disruption of power supply to all eleven electricity distribution companies in the country.
2. The Central Bank of Nigeria (CBN) revoked the banking license of Heritage Bank Plc on Monday, June 3, due to the bank’s failure to improve its financial performance, which posed a threat to financial stability. This came after the CBN introduced tough new capital requirement measures two months prior. The Nigeria Deposit Insurance Corporation (NDIC), appointed as the liquidator, commenced verifying deposits and paying out insured amounts of up to ₦5 million per depositor using their Bank Verification Number (BVN) to locate alternate accounts. Depositors with funds over ₦5 million will be paid liquidation dividends as the bank’s assets are sold. Internal documents showed that over 90% of Heritage Bank’s loan portfolio of around ₦700 billion was non-performing as of March 2024, with the bank’s tier-1 capital in a deficit of over ₦1 trillion. The bank had struggled with non-performing loans for years. The NDIC recently raised the maximum deposit insurance coverage for deposit-taking institutions to ₦5 million, providing full coverage for 98% of total depositors. The collapse of Heritage Bank marks the first time a Nigerian bank has been allowed to fail in over a decade.
3. The Super Eagles preparations for their 2026 World Cup qualifiers have been disrupted by the labour strike that has grounded all domestic flights across Nigeria. Eight key players, including Ademola Lookman, Alex Iwobi, Maduka Okoye, Semi Ajayi, Calvin Bassey, and Paul Onuachu, are currently stranded at airports in Nigeria, unable to connect to the team’s base in Uyo before the upcoming matches against South Africa and the Benin Republic on June 7th and 10th. This is a major setback for the team and new Nigeria coach Finidi George, as the players must commence training as a unit, ahead of such important matches. With time running out before the World Cup qualifiers, the Super Eagles’ backroom staff will work overtime to find alternative solutions to get their squad together as soon as possible.
4. Novak Djokovic battled through injury to defeat Francisco Cerundolo 6-1, 5-7, 3-6, 7-5, 6-3 in a thrilling four-hour, 39-minute match to reach his 59th Grand Slam quarterfinal at the 2024 French Open. The 37-year-old Serbian sustained a knee injury early in the second set and received multiple medical timeouts, but refused to surrender despite his movement being hampered. However, Djokovic admitted he is unsure if he will be able to play the quarterfinal due to the extent of his knee injury, saying he will undergo further tests. The 34-time Grand Slam champion is chasing a record-extending 25th major title and fourth French Open crown.
5. Hunter Biden, the son of President Joe Biden, is facing a federal gun trial in Delaware for three felony charges related to his 2018 firearm purchase. The charges include making false statements on the application form and illegally possessing a gun for 11 days while allegedly battling a crack addiction. The trial marks the first time a child of a sitting president has faced a criminal trial. Prosecutors will present evidence detailing his substance abuse during the relevant period, referencing his admissions in his memoir, “Beautiful Things,” as well as photos, videos, and text messages. They also intend to call upon testimony from Hunter Biden’s former romantic partners. The charges carry a maximum sentence of up to 25 years in prison, although actual sentences for federal crimes are typically less than the maximum penalties. The trial is expected to be closely watched, given its high-profile nature and the potential implications for the Biden family.
6. The Redeemed Christian Church of God (RCCG) has taken action against Idowu Iluyomade, the Senior Pastor of the City of David parish in Victoria Island, Lagos State. This follows the public outcry surrounding the extravagant 60th birthday party of his wife, Siji Iluyomade, which came shortly after the death of former Access Bank CEO Herbert Wigwe, a prominent member of the church. The Governing Council of the church, after investigating the matter, took action, with some reports stating a three-month suspension for Pastor Iluyomade and others suggesting a transfer. He has since been replaced by Pastor Charles Kpandei of RCCG Resurrection Parish of Region 11. However, other reports suggest that Pastor Iluyomade was transferred to another parish, Throne of Grace in Ebute Metta, Lagos, which serves as the headquarters of the mission. In his new role, he will serve as the Pastor-in-Charge of elders at RCCG Region 1. The transfer was officially announced during the monthly Thanksgiving service on June 2, 2024.
7. A video circulating on social media shows a man narrating how some rail fittings on the Second Niger Bridge were uprooted and vandalized by suspected vandals. The man advises drivers to be cautious of the uprooted railings, especially at night, as they can cause accidents. The video shows some of the uprooted railings lying on the ground of the bridge. The Anambra State police spokesman, SP Tochukwu Ikenga, confirmed that the command is aware of the development and is investigating. The Chief Press Secretary to the Minister of Works, Uche Orji, also noted the video and said action would be taken. The Second Niger Bridge was commissioned by former President Muhammadu Buhari in May 2022 and was opened for use in December 2022 to ease traffic in the South-East during the festive season.
