Senator Ned Nwoko Challenges Julius Berger on Payment Structure and Compliance with Nigerian Financial Regulations 
During today’s budget defense session at the National Assembly, Senator Ned Munir Nwoko, representing Delta North, took a firm stance against Julius Berger Nigeria Plc over its payment structure and compliance with Nigerian financial regulations.
As a strong advocate for enforcing the law that mandates goods and services be paid for in Naira, Senator Nwoko sought clarification on the number of workers engaged by the company and their modes of payment.
In response, representatives of Julius Berger disclosed that the company directly employs 10,000 workers, with an additional 150,000 engaged indirectly. However, they revealed that 300 expatriate staff are on the company’s payroll in Germany, receiving their salaries outside Nigeria.
This revelation did not sit well with Senator Nwoko, who strongly condemned the practice, describing it as an unfair labor arrangement that disadvantages Nigerian workers. He emphasized that at a time when global economies are adopting more protectionist policies, Nigeria must close loopholes that allow foreign entities to sidestep its financial regulations.
The Senator further stressed that as world powers work to strengthen their currencies, Nigeria must leverage every available advantage in trade and commerce to achieve the same and address its balance of payment challenges.
Following these deliberations, the committee resolved to conduct oversight inspections to ensure compliance with Nigerian financial laws.
Hon. Gloria Okolugbo
Director, Communications
Office of the Distinguished Senator Representing Delta North
Prince Ned Munir Nwoko