Business
Labour Plans Nationwide Strike Over Minimum Wage Delay
The organised labour have alerted Nigerians that plans were underway to embark on industrial action if the current state of affairs as regards the issue of consequential adjustment arising from the new national Minimum wage of N30,000 per month remains the same.
It is operating under the aegis of the Trade Union Side (TUS) of the Joint National Public Service Negotiating Council (JNPSNC); the eight Unions in the Public Services of the Federal and 36 State Governments.
In a press statement in Abuja on Monday, the TUS Acting Chairman, Mr Anchaver Simon, and the Secretary, Mr Alade Lawal, expressed disappointment by government’s effort to derail the implementation of a new National Minimum Wage.
“As things are right now, the government side is only prepared to pay peanuts to workers as adjustment under the pretext that it will soon be undertaking general salary review in the Public Service.”
The committee on Consequential Adjustment of Salary agreed to set up a technical body to work out different scenarios in respect of salaries that would be paid to workers who are in the Ministries, Departments and Agencies (MDAs) that draw their emoluments from the government treasury.
The technical committee met severally and series of computations that were to be presented for the plenary for consideration were developed.
The labour leaders stated that the TUS had initially proposed that since the minimum wage was increased by 66.66 per cent; from N18,000.000 to N30,000.00, salaries for officers on Grade Levels 01-17 should be adjusted accordingly to maintain the relativity that exists in the salary structure in the Public Service.
“But when the Government side argued that such increase across board would raise the total wage bill too high, the TUS side reviewed its demand downward and eventually settled for 30 per cent for officers on Grade Levels 07-14 and 25 per cent for those on Grade Levels 15-17.
“The Government side on its part was insisting on 9.5 per cent salary raise for employees on Grade Levels 07-14 and 5 per cent for those on Grade Levels 15-17.
“The two sides then agreed to capture the two positions in the technical committee’s report which will now be presented for discussion at the plenary.”
According to the TUS, it received a rude shock at the last meeting of the Technical Committee when the government side began to hold on to a non-existent position that the Technical Committee’s term of reference was to base its assignment in respect of salary adjustment on what was provided for it in the 2019 budget.
It regretted that the implication of Government’s position was that the Technical Committee cannot go beyond what the Government was pushing for which is 9.5 per cent salary increase for officers on GL 07-14 and 5 per cent for those on GL 15-17.
“With this turn of event, it is quite clear now that some fifth columnists in this Administration are hell bent on pushing President Muhammadu Buhari to enter into a collision course with millions of Nigerian workers in the Public Service. This is very sad,” the Union stated.
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Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
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