Business
Minimum Wage: NLC Decries Delay In Committee Sitting
The Nigeria Labour Congress (NLC) has decried the delay in the sitting by the Tripartite Committee for the negotiation of the National Minimum Wage for workers in the country, since its inauguration.
Acting President of NLC, Mr Kiri Mohammed, said this yesterday in Abuja at the 11th Quadrennial Conference of the Nigeria Civil Service Union, Federal Council, with the theme: “Equipping the Union to Face the Challenges of 21stCentury.”
According to him, the organised labour will no longer tolerate the delay in implementation of the National Minimum Wage for workers.
“Since we had an inaugural meeting, they have not called for a meeting; it looks like there is a deliberate delay for the negotiation process.
“We have not even started the negotiation process but if we meet we would modify our demand for the upward review,” he said.
He disclosed that the organised Labour has demanded for the upward review of N56,000 minimum wage for workers in the country.
Recall that the NLC and the Trade Union Congress of Nigeria (TUC) have jointly proposed and presented N56,000 as the new minimum wage to the Federal Government as against the present N18,000.
He said the reason for the upward review was imperative as the present economy realities have surpassed that of two years ago.
According to Mohammed, organised labour due to economy reasons then obviously demanded N56,000 as minimum wage two years ago, from Mr President and to date nothing has happened.
“ For that same reasons, NLC decided to look at those reasons and see how it can be modified and we have actually decided for upward review of more than the N56,000 as minimum wage for workers.
“So, the leadership of the organised labour met and decided to look at the present economy realities on the ground and our finding is that the N56, 000 is not enough.
“That is why we have made a fresh submission and we have submitted it to the secretariat of the Tripartite Committee of the National Minimum Wage.
“But, I am not going to tell you the actual amount because the NLC president is supposed to announce that by himself,‘’ he said.
He assured workers that the NLC would do everything possible to ensure that a living minimum wage was implemented for workers in the country.
He, however, commended members for their support during the recently concluded national delegated conference of the Nigeria Civil Service Union (NCSU).
Earlier in his address of welcome, Mr Odebunmi Timothy, Acting Chairman of the (NCSU) Federal Council noted the minimum wage for workers was long overdue.
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.
