BUSINESS

FG To Backdate Payment Of Minimum Wage From July 29

The Committee on Consequential Adjustments in Salaries for civil servants has agreed that the new minimum wage will be implemented from July 29, 2024.

This was stated in a Memorandum of Understanding issued at the end of the committee’s meeting, which was seen by our correspondent in Abuja on Friday.

The MoU reads: “The NSIWC will generate the appropriate salary templates for other consolidated salary structures for implementation; the effective date of the implementation shall be July 29, 2024.”

The committee was established to implement the provisions of the National Minimum Wage Act 2024, which raised the national minimum wage from ₦30,000 to ₦70,000.

Sponsored

The committee consists of 16 members.

Its terms of reference include negotiating and agreeing on consequential adjustments in salaries and developing a template for the implementation of the approved minimum wage.

Details later…

SPONSORED
Alex Enemanna

A print journalist with vast knowledge of political developments in Nigeria. Passionate about equity and fairness through robust developmental journalism.

Recent Posts

Edo Guber: LP’s Akpata Denies Stepping Down For PDP Candidate

The governorship candidate of the Labour Party (LP), Olumide Akpata has denied reports that he…

54 mins ago

Alonso, Kompany Demands Action On Player’s Workload

Bayern Munich's Vincent Kompany and his Leverkusen counterpart, Xabi Alonso, have joined the chorus demanding…

5 hours ago

Two Nigerian Airports Bags Exceptional Awards

Airport Council International has recognized the outstanding commitment of Port Harcourt and the Nnamdi Azikiwe…

6 hours ago

Man City, Arsenal Aim For Early Lead In Champion’s League Race

The Sunday's match between champions Manchester City and Arsenal is already being billed as a…

6 hours ago

CBN Withdraws Controversial Policy Guidelines Publication

The Central Bank of Nigeria's (CBN) publication on Monetary, Credit, Foreign Trade, and Exchange Policy…

6 hours ago

OPM Launches First Free Specialist Hospitals In Nigeria

A faith-based organisation, Omega Power Ministry (OPM), has unveiled the first free specialist hospitals in…

6 hours ago