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October 31 Deadline : Another ASUU strike looms as Federal Government refuses to fulfill promise

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Another round of strike action is looming in the nation’s Universities as academic staff counts down to the deadline for the implementation of agreements reached with the government which led to the conditional suspension of its indefinite strike action in September.

The government had signed an agreement with the Academic Staff Union of Universities as a result of the strike action embarked upon by the union to press the implementation of the memorandum of understanding entered into between both parties in 2013 as well as the 2009 agreement.

A timeline of October 2017 was reached between the government and the unions for the implementation of some components of the agreement, especially the payment of shortfall in salaries and Earned Academic Allowances.
But some lecturers informed The Nation that barely one week to the end of the October timeline, the government has not implemented any aspect of the agreement, even when they claimed during negotiation that implementation has commenced.

While suspending their strike action in September, ASUU President, Prof. Biodun Ogunyemi had said that the union was suspending its action conditionally to pave way for government to commence implementation of the agreement, stressing that the union will not hesitate to resume the action if the government fail to meet its own aspect of the agreement.

One lecturer who would not want his name in print told The Nation that “the government has not done anything. We have not heard from them and it is just one week to the end of the October deadline. I can assure you that we are warming up and there is the possibility that from November 1, we will resume the suspended action.

“They (government) told our leaders during negotiations that they have prepared everything for the implementation. They were even brandishing some papers, especially on the earned Academic Allowance. But we have not seen anything nor heard from them.

“They were also supposed to carry our verification because of those who employed workers without permission so that the issue of shortfall in salary can be addressed. Many of us have been verified, but nothing has happened. We have not been paid. They should not take us die a ride because when we resume the suspension action not are not going to listen to any discussion.

However, ASUU President, Prof. Biodun Ogunyemi, however, declined to say whether or not the union will call out its members at the end of October if they are not satisfied with the level of implementation of the agreement.
Prof. Ogunyemi told The Nation over the telephone that members of the union will determine the next line of action based on the level of implementation of the agreement reached between the government and the unions.
He said both parties were making progress in the implementation of the memorandum of understating signed between them, adding that the union is still engaging the government and expressed the hope that the government will keep to their promise.

He said: “We are engaging them and we are making some few progress and we hope they will keep their promise. Otherwise, our members are ready to activate their action.

We are still in October, but we are on our guard.

We believe they will follow the process through and implement it fully. That is why we still engage them and we are talking. We are working with them and we hope they will continue to cooperate.

Asked whether they will embark on any Industrial action at the end of October, he said “I cannot say whether there will be any action at the end of October or not. It is what our members say that we shall do. I hope I am very clear? Our members shall determine what we shall do at the end of the deadline based on the level, of implementation”.

The government had promised to meet the demand of the unions with a promise to release of about N220 billion to the universities not later than October 2017 to fund the revitalisation of federal universities in the country and the payment of the shortfall in their salaries as well as payment of earned allowances which has accumulated.

Minister of Labour and Employment, Senator Chris Ngige who promised that his Ministry will monitor the implementation the agreement reached had told newsmen after the conciliatory meeting in September that “We have concluded negotiations, the government and the leadership of Academic Staff Union of Universities, ASUU. The ASUU negotiating team and the government discuss salient issues and most of those issues are well-known to the media but for the purposes of clarity, I can go around the grounds again.

“There’s one funding for revitalization of public universities and the issue of Earn Academic Allowances, the issue of University Staff Schools on which that there is a court judgement, the issue of National Universities Pension Management Company, and the issue of salary shortfalls for lecturers and staff of universities.

There is the issue of TSA exemption and the problems in the state universities. All are the issues that ASUU felt that government should address.
“Most of these issues stemmed from the 2009 agreement that government had ASUU and also from the 2013 Memorandum of Understanding, that the government had with ASUU. Government is a continuum, most of those issues were not issues that cropped up from the Buhari administration, we inherited them.
“But be that as it may like I said, the government is a continuum. So we are to really address those issues, we inherited them but there are issues concerning the welfare of our people. So, on the issue of funding for the revitalization of public universities, this negotiating team discussed in detail and extensively on that.

“This is the fund that would be needed for the revitalization of public universities in terms of their working tools and other things needed for the effective performance of their duties.
“There was an agreement from the MoU of 2009 and that of 2013, for government to be making some quarterly payments into this fund. And from 2014 to date, it has not been possible for the government to pay or they didn’t pay. But this government has been negotiating with ASUU since last year. Today, there is a government proposal which we all agreed id workable.

“But ASUU has to take back this our proposal to their organs, so we decided that there’s an agreement for government to make some funds available in September and October to show that they are not repudiating their agreement and to also show sign of good faith.

“However, because of the inability of the government to pay the required amount which is at N220 billion, a seven-man committee was proposed and ASUU leadership is expected to send in three nominees into this committee. It’s a technical committee so to say, a working committee and they would send in the three-man nomination, the Minister of Education will appoint three persons to represent the federal government and the chairman, making four to bring the number to seven. ASUU will also send in their proposal for testing terms of reference for the committee to the minister.

“We expect that that will be done today since today is already a Friday. This committee is expected to work out the ways and means for the government and ASUU to actualize the aspirations as per the 2013 MoU.

“This is without prejudice to the Babalakin committee on the re-negotiation of the 2009 MoU between the Federal Government and ASUU.
“On the issue of Earn Academic Allowances, we have listened and payment has started in that direction.Same with staff schools.

Government is though not appealing, we have agreed that the decision should be conveyed to the various universities.
“The Issue of NUPENCO was addressed and ways have been fashioned out for the registration of that company. Salary shortfalls for lecturers and university staff were also addressed and the government has shown their commitment and evidence that payments have started in order to liquidate the outstanding allowances.

“The issue of TSA exemption was also discussed and an agreement or proposal was muted by which the Central Bank would a special account for that in order for endowment funds and research grants will be exempted.
“State universities which have been the concern for ASUU and everybody who has been looking for quality education in the country was also discussed and the Minister of Education was mandated to take the memo to the council of state and the Federal Executive Council.

“Based on these discussions, ASUU leadership will consult with its organs and revert back to government within one week. They will consult with their organs with a view to calling off the strike.And we expect them that within one week, they will get back to government. These are the highlights of the meeting and I can tell you that the meeting took place in the very cordial atmosphere.”

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Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend

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Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend

Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.

The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.

Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.

The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.

The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.

Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.

The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.

 

Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.

 

The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.

 

Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.

 

The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.

 

The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.

 

Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.

 

The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.

 

Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend

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Alpha Morgan to Host 19th Economic Review Webinar

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Alpha Morgan to Host 19th Economic Review Webinar

 

In an economy shaped by constant shifts, the edge often belongs to those with the right information.

 

 

On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.

 

 

The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.

 

 

With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.

 

 

Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19

It is a bi-monthly platform that is open to the public and is held virtually.

 

 

Visit www.alphamorganbank to know more.

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GTBank Launches Quick Airtime Loan at 2.95%

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GTCO increases GTBank’s Paid-Up Capital to ₦504 Billion

GTBank Launches Quick Airtime Loan at 2.95%

 

Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.

 

In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.

For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.

Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”

Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.

With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank

Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.

About HabariPay

HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:

GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com

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