The Presidency has denied reports making the rounds that the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Federal Government negotiating team have proposed N105,000 as the new minimum wage.

After organised labour declared nationwide strike, the Federal Government met with the union leaders and struck a deal.

The negotiating team had subsequently briefed President Bola Tinubu, who directed the Finance Minister to present a new minimum wage template within 48 hours.

Onanuga and his team met the president on Thursday but did not disclose outcome of the meeting.

However, there were reports that Edun's team proposed N105,000 as the new minimum wage.

But responding to this, Bayo Onanuga, the Special Adviser to the President on Media and Strategy, described the reports as false.

"The Honorable Minister of Finance and coordinating minister of the economy, Wale Edun has not proposed N105,000 minimum wage. The contrary story being disseminated is false," Onanuga tweeted.