Business
LUTH Tasks Nigerians On Nurses’ Strike
The management of Lagos
University Teaching Hospital, Idi-Araba, Lagos, has appealed to well-meaning Nigerians to prevail on the hospital’s striking nurses to embrace dialogue and return to work.
LUTH’s Head of Corporate Services, Mr Kelechi Otunememade the plea in an interview with in Lagos.
Nurses and midwives in the hospital, under the aegis of National Association of Nigerian Nurses and Midwives (NANNM), had on June 10 commenced an indefinite strike.
“We call on well-meaning Nigerians to prevail on our nurses and midwives to let them embrace the tested democratic norms as the only means of conflict resolution in the present dispensation,’’ Otuneme said.
According to him, the reasons the striking workers gave in a letter they wrote to the hospital management for the strike are not tenable.
“Some of the reasons include non-promotion of 71 members of their association in the 2015 promotion exercise and non-payment of teaching allowance to LUTH nurses,’’ he said.
Otuneme said the hospital management had made several entreaties to the nurses to embrace dialogue, but they were not yielding.
“In 2015, LUTH interviewed and recommended for promotion over 200 nurses, including many that had been stagnated for several years due to various policies of the previous governments.
“A list of 600 successful LUTH workers, including these nurses, was forwarded to the Federal Ministry of Health (FMOH) for approval, with suitable recommendations that they should be promoted.
“The ministry, however, excluded 71 nurses without the BSc Degree in Nursing because of the existing provision made by the Nursing and Midwifery Council of Nigeria.
“It stipulates that a nurse must possess a BSc Degree in nursing to advance beyond Level 12 of the current Salary Scale.
“The association stridently insisted that LUTH management should countermand the directive of the FMOH and promote the 71 nurses.
“They were advised and assisted to seek direct and further clarification from the ministry,’’ he said.
Otuneme said that the ongoing strike was basically because officials of the association were among the 71 people who failed to obtain the requisite degree.
“It was due to the fear of being overtaken by their better-qualified younger colleagues, especially now that the 2016 promotion examinations are about to commence.
“However, LUTH management cannot and will not disobey constituted authority to pacify striking nurses who know very well that the final decision to promote our workers or not rests with higher authorities.
“Non-payment of teaching allowance to LUTH nurses is a mischievous allegation as everyone knows that nurses are paid directly from Abuja through the IPPIS government platform.
“Salaries, allowances such as uniform, teaching are computed and paid directly to each nursing staff by the Federal Government.
Cornerstone of Financial Services
A survey of more than 1 000 global finance leaders undertaken by digital payment network Ripple shows that 72% of respondents believe they need to offer a digital asset solution to remain competitive.
According to Ripple, leaders from the banking, fintech, corporate and asset management sector have made it clear that the “digital asset revolution is happening now”.
“Digital assets are quickly becoming a cornerstone of financial services, underpinned by progressive regulation, growing interest from Tier-1 banks, a steady consumer shift from banks to fintech providers, and booming stablecoin adoption,” Ripple says.
The survey was conducted in early 2026 and the findings released in March.
Stablecoin Boon or Bane?
Ripple has experienced significant success in the stablecoin sector since launching its Ripple USD (RLUSD) stablecoin in 2024.
With a market cap of $1.56 billion, it is considered a major regulated player in the market.
No doubt the platform was pleased to learn through its own survey that financial leaders were most bullish about stablecoins.
Roughly three-quarters of respondents believed they could boost cash-flow efficiency and unlock trapped working capital.
Ripple noted that finance leaders were thinking about stablecoins as more than “just a new way to execute payments”; instead, they viewed them as effective tools for treasury management.
In March 2026, Ripple began testing a new trade finance model built around RLUSD in a bid to increase the speed of cross-border payments.
The pilot initiative, developed alongside supply chain finance company Unloq [https://unloq.com], is running on the XRP Ledger inside a testing framework developed by the Monetary Authority of Singapore.
The Asian city-state is one of the platform’s biggest growth markets.
The idea behind the project is to see whether stablecoin-based settlement can streamline trade finance, too often hampered by reliance on intermediaries and slow reconciliation.
The only potential drawback is that if the initiative takes off, the Ripple to USD price could be negatively affected.
Ripple has always championed its native XRP token as a bridge asset, the “middleman” in the process of a financial institution turning dollars in the US into pounds in the UK, for example.
Ripple converts dollars into XRP and then back into pounds.
If RLUSD can do exactly the same thing, questions will be asked about XRP’s relevance.
That is a bridge Ripple will have to cross if it gets to that point.
Tokenisation Partners
Another interesting finding from Ripple’s survey is that most banks and asset managers are seeking tokenisation partners to help execute their strategies.
Some 89% of respondents said digital asset storage and custody were top priority. “Token servicing/lifecycle management also ranks highly for banks at 82%, while asset managers place greater emphasis on primary distribution at 80%,” Ripple found.
The survey also revealed that just more than half of fintechs and financial institutions want an infrastructure provider that can offer a “one-stop-shop solution”. This rose to 71% among corporate financial leaders.
Ripple attributes this to institutions and firms wanting uncomplicated, cohesive systems.
Infrastructure Rules
In its final analysis, Ripple says companies across the board are looking for partners and solutions that are “secure, compliant, battle-tested and that enable growth and execution”.
“The message is clear: infrastructure decisions made today will shape competitive positioning tomorrow.”
No surprise that this is precisely where Ripple is placing much of its focus.
