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Showing posts from February, 2022

ASUU to FG: Our Demand is 1trillion naira before strike will be suspended.

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 After meeting on 22nd,   ASUU and FG to hold another Meeting On Monday Nigeria's Minister of Labour, Dr Chris Ngige who chaired Tuesday's meeting with ASUU has revealed the meeting has been adjourned till Monday this week when the government hopes to get back to the lecturers on some of the issues raised. The conciliatory meeting between the minister of Labour and the leadership of ASUU on Tuesday evening has come to an end with both parties refusing to brief the press on the issues that were discussed. The Academic Staff Union of Universities (ASUU) says it will not shift ground until its demands are met by the federal government. Speaking at the meeting with the leadership of ASUU, Chris Ngige, the labour and employment minister, said the government would do “everything possible” to resolve the strike. The union had lamented the government’s failure to fulfill some of the agreements it reached with varsity lecturers to suspend its last strike in 2020. Meanwhile, as we...

What SWIFT does and why it matters to Russia

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  What SWIFT does and why it matters to Russia SWIFT has become a hotly debated topic in the conversation about Russian sanctions. Cutting Russian banks' access would further isolate the country from the global financial community, and put more economic pressure on the Kremlin. SWIFT, or the Society for Worldwide Interbank Financial Telecommunications, is a secure messaging service that more than 11k banks around the world use to communicate. "Essentially, the Gmail of global banking," as Bloomberg explained yesterday. Cutting Russian banks' access would isolate the country from the global financial community, and put more economic pressure on the Kremlin. The U.S. and its European counterparts have so far held back from cutting off SWIFT, but it's not off the table. European countries use SWIFT to pay Russian companies for oil and gas. Regular folks overseas are also familiar with the system, using it to conduct cross-country money transfers — to pay bills, s...