Working For Long Hours Causes Heart Diseases, Death – ILO
The World Health Organisation (WHO) and the International Labour Organisation (ILO) have said that long working hours is responsible for a large number of deaths due to heart disease and stroke.
This was revealed in a global study jointly released by Environmental International on Monday.
The study shows that over 745,000 people died from a stroke and heart disease associated with long working hours in 2016, a 29 per cent increase since 2000.
The study said working 55 hours or more hours per week was associated with an estimated 35 per cent higher risk of a stroke and a 17 per cent higher risk of dying from ischemic heart disease, compared to working 35 to 40 hours a week.
The joint study also showed that most victims (72 per cent) were men and were middle-aged or older.
Speaking on the study, Director, Department of Environment, Climate Change and Health, WHO, Dr Maria Neira, said, “Working 55 hours or more per week is a serious health hazard. It’s time that we all, governments, employers, and employees wake up to the fact that long working hours can lead to premature death.”
CBN warns banks over foreign exchange malpractices
The Central Bank of Nigeria, CBN, has insisted that the FX operating license of any bank or banks that are found guilty of ongoing investigations in foreign exchange malpractices would be suspended for at least a year.
The circular signed today by the Director Trade and Exchange Department, CBN, Ozoemena Nnaji stated: “In line with the continuing close surveillance of our financial markets in general and the FX market in particular, the CBN wishes to remind all banks that it is their responsibility to not only Know their Customers (KYC requirements) but also Know their customers’ business (KYCB requirements).
“Given these responsibilities and in view of recent occurrences in the market, the CBN would like to remind banks to desist from all and any forms of FX malpractices.
“We wish to reiterate that the FX operating license of any bank or banks that are found culpable with ongoing investigations would be suspended for at least one year. Please note and ensure compliance.”
Naira hits historic low of 543 against dollar
The naira has continued to depreciate on the parallel market, selling for N543 to the dollar on Thursday.
The bureau de change operators in Abuja bought dollar at N540, then it was sold for N543.
The British Pound was also sold for £1/N740.
This comes 44 days after the Central Bank of Nigeria barred sale of Forex to all bureau de change operators across the country.
On June 27, 2021, the CBN ended the sales of Forex to BDCs saying the parallel market had become a conduit for illicit Forex flows and graft.
The CBN said it would also no longer process applications for BDC licences in the country.