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MAN joins The Bukar Goni Aji-led 37-man committee to discuss the new minimum wage

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The Manufacturers Association of Nigeria (MAN) says it has three members on the Bukar Goni Aji-led 37-man Tripartite Committee on National Minimum Wage Committee.

MAN, on its social media handle, reveals that the representatives are the Director-  General of MAN, Segun Ajayi-Kadir; the Human Resource Director of Nigerian Breweries, Mrs. Grace Omo-Lamai, and the Managing Director of Dozzy Oil and Gas Limited, Lady Ada Chukwudozie.

The body says that the inclusion of MAN representatives on the committee is significant, as the manufacturing sector is a major employer in the Nigerian economy.

Meanwhile, the Committee was launched by Vice President Kashim Shettima at the State House, Abuja on Tuesday, 30th January 2024.

The committee’s mission is to recommend a new national minimum wage for Nigerian workers.

The committee’s composition includes representatives from the federal government, states government, private sector, and organised labour.

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Cybercriminals cloning DStv, other brands to steal bank accounts across Africa

According to cybersecurity company NordVPN, the campaign distributes Remote Access Trojans (RATs) and banking trojans, forms of malware that can give criminals control over infected devices and access to sensitive information.

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Cybercriminals are impersonating popular companies and government agencies across Africa in a campaign designed to take over smartphones and bank accounts.

More than 100 fake websites linked to the malware campaign have been identified since August 2025.

Brands including DStv, Takealot and South African Airways, as well as the South African Revenue Service (SARS), are being used to make fraudulent messages and websites appear legitimate.

According to cybersecurity company NordVPN, the campaign distributes Remote Access Trojans (RATs) and banking trojans, forms of malware that can give criminals control over infected devices and access to sensitive information.

The attacks are particularly concerning in South Africa, where Android dominates the mobile operating system market.

NordVPN said the attacks typically begin with social engineering, where criminals send convincing messages through SMS, WhatsApp or social media.

The messages may contain urgent offers or requests involving job opportunities, tax refunds, identity renewals or pension verification.

Victims are then directed to fake websites designed to closely resemble the official websites of trusted organisations.

The sites encourage users to download an Android application. Once installed, the malicious software can operate quietly in the background, including after the smartphone is restarted.

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Cement price hits N16,000 per bag

The current cement prices mark a steep rise from late 2024, when a bag sold for around N7,500.

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• Chairman of BUA cement, Abdul Samad Rabiu (ASR)

Cement dealers across Nigeria have announced fresh price increases, with a 50kg bag now selling for as much as N16,000 in some markets, up from N13,000 recorded by buyers just days earlier.

The current cement prices mark a steep rise from late 2024, when a bag sold for around N7,500.

By the third quarter of 2025, that had risen to about N9,000 before reaching the N12,000 to N16,000 range now seen across different locations.

Other building materials have followed a similar upward path. Blocks have climbed from around N600 to N1,100 each.

Sand has gone from N165,000 to N250,000 per 30 tonnes. Granite has risen from N530,000 to N780,000 per 30 tonnes.

Reinforcing steel now costs N1.15 million per tonne, up from N850,000.

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Naira Exchange Rates Friday, August 21

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BLACK MARKET RATES

US Dollar (USD) Buy ₦1,405 Sell ₦1,410

Great British Pound(GBP) Buy ₦1,890 Sell: ₦1,915

EURO (EUR) Buy ₦1,590 Sell ₦1,610

Canadian Dollar (CAD) Buy ₦1,020 Sell ₦1,080

South African Rand (ZAR) Buy ₦75 Sell ₦90Ghana CEDI (GHS) Buy ₦95 Sell ₦110

West African CFA Buy ₦2, 300 Sell ₦2, 400

CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250

CBN Exchange Rates

US Dollar (USD) ₦1,374.63

Great British Pound (GBP) ₦1,838.70

EURO (EUR) ₦1,574.97

Swiss Franc (CHF) ₦1,687.70

Chinese Yuan (CNY) ₦200.42

Japanese Yen (Yen) ₦8.49

West African CFA (XOF) ₦2.37

West African Unit Account (WAUA) ₦1,848.41

Saudi Riyal (SAR) ₦358.91

South African Rand (ZAR) ₦83.35

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