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Business News

PENGASSAN shuts Chevron’s premises over failure to pay workers entitlements 

PENGASSAN has shut down the headquarters of Chevron Nigeria Limited (CNL) following its failure to pay its workers’ entitlements. 

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NUPENG threatens to embark on strike, Chevron Nigeria Limited, Nigeria Union of Petroleum and Natural Gas Workers, Nigerian National Petroleum Corporation, Petroleum and Natural Gas Senior Staff Association of Nigeria, NUPENG and PENGASSAN, Chevron concludes gas sale deal with GenCo, one other , Chevron considers divesting from Nigeria, to focus on U.S Shale Oil, Chevron crisis continues as NUPENG issues new threat, Chevron bows to pressure, set to recall workers  

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has shut down the headquarters of Chevron Nigeria Limited (CNL) following its failure to pay its workers’ entitlements.

Chevron has been in a web of industrial actions since its sack gale. It was reported that the company laid off about 70% of its staff. This led to nationwide protest after which oil unions intervened and cut down the number of staff that were laid off.

Chevron Nigeria Limited

Although Chevron said it had engaged workers under PENGASSAN in discussions to understand and seek amicable resolution to industrial action, the company is still being barricaded.

Spokesperson of Chevron Nigeria Limited (CNL), Sola Adebawo, said that CNL was already engaging in discussions with the union to understand and seek amicable resolution of the issues.

“CNL confirms that on Tuesday, December 17, 2019, the CNL branch of PENGASSAN directed its members to stay away from work purportedly citing some industrial relations issues as the reason for their action. They have also prevented other employees who are not members of PENGASSAN from gaining access to the offices.

“This is a unilateral industrial action based on inaccurate information. CNL, in keeping with its commitment to resolving issues through meaningful dialogue and respect for the rule of law, is engaging in discussions with the Union to understand and seek amicable resolution of the issues.”

[READ MORE: GenCos to shut down over NBET’s administrative charge)

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Why this matters: The strike of workers at the Nigerian unit of Chevron could affect oil production, as Chevron has 350,000 bpd shares in the country’s total output.

Commenting on the development, a worker at Chevron said that if the company did not act fast, it could risk shutting down. The employee made known that all they were asking for was the yearly entitlements of the workers.

“The workers are entitled to certain allowances in every December and January but the management has refused to pay.”

What you should know: Chevron is the third-largest oil-producing company in Nigeria. It has 40% participation in eight onshore and shallow offshore fields as well as three operated and six non-operated deepwater blocks in the country.

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Chidinma holds a degree in Mass communication from Caleb University Lagos and a Masters in view in Public Relations. She strongly believes in self development which has made her volunteer with an NGO on girl child development. She loves writing, reading and travelling. You may contact her via - [email protected]

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Corporate Press Releases

Peter Obaseki retires as Chief Operating Officer of FCMB Group Plc

Mr Peter Obaseki, the Chief Operating Officer of FCMB Group has retired from the financial institution.

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The Board of Directors of FCMB Group Plc has announced the retirement of Mr. Peter Obaseki, the Chief Operating Officer of the financial institution, with effect from March 1, 2021. He was also an Executive Director of the Group.

His retirement was approved at a meeting of the Board of the Group on February 26, 2021. This has also been announced in a statement to the Nigerian Stock Exchange (NSE) by the financial institution.

The Chairman of FCMB Group Plc’s Board of Directors, Mr Oladipupo Jadesimi, thanked Mr. Obaseki for his valuable service and excellent support to the Board for many years.

FCMB Group Plc is a holding company divided along three business Groups; Commercial and Retail Banking (First City Monument Bank Limited, Credit Direct Limited, FCMB (UK) Limited and FCMB Microfinance Bank Limited); Investment Banking (FCMB Capital Markets Limited and CSL Stockbrokers Limited); as well as Asset & Wealth Management (FCMB Pensions Limited, FCMB Asset Management Limited and FCMB Trustees Limited).

The Group and its subsidiaries are leaders in their respective segments with strong fundamentals.

For more information about FCMB Group Plc, please visit www.fcmbgroup.com.

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Tech News

Deezer accepts payment in Naira amid stiff competitions with Spotify, Youtube music, Apple music.

Deezer has gained quite a reputation in Nigeria, as it slashes its subscription fee and now accepts payment in Naira.

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Deezer slashes subscription fee and now accepts payment in Naira amid stiff competitions with Spotify, Youtube music, Apple music.

Deezer, the French music streaming platform that has gained quite a reputation in Nigeria has slashed its subscription fee and now accepts payment in Naira.

This is coming a few weeks after Spotify launched in Nigeria and 38 other new markets in Africa.

The competition in the Nigerian music streaming space is getting hotter by the day. More music streaming platforms are entering the Nigerian market with better payment methods and cheaper pricing, thereby forcing existing players to slash their prices so as to hold on to their customer base

Launched in 2007, Deezer currently connects over 16 million monthly active users around the world to 73 million tracks.

Before now, Deezer’s subscription was rated at $4.99 (₦1,800) for premium customers and the family plan for ₦2,700.

This number has been slashed in half. The music platform now charges ₦900 ($2.36) for Deezer Premium, ₦1,400 for Deezer HiFi and ₦1,400 ($3.67) for Deezer Family Plan.

Other streaming players in Nigeria like Apple Music, Spotify, Youtube music, Boom Play, Audiomack and Soundcloud have also slashed their prices.

For YouTube Music, the monthly individual subscription costs ₦900 while a family plan costs ₦1400 ($3.67).

Spotify Premium cost ₦900 per month in Nigeria. The Premium Family plan goes for ₦1,400 for up to 6 family members.

Apple music charges ₦450 per month for students, ₦900 per month for Individual plan while the Family plan goes for ₦1,400 for up to 6 family members.

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