Business
Telecom Strike Looms as Nigerian Union Demands Major Reforms
Nigeria’s telecommunications industry faces a potential shutdown as the Private Telecommunications and Communications Senior Staff Association (PTCASS) has initiated a strike.
This move could severely disrupt telecommunications services across the country.
On Monday, PTCASS announced the strike, with Secretary-General Okonu Abdullahi explaining the reasons behind the action.
Abdullahi revealed that over 800 members, employed across various telecom facilities, network centers, and critical telecommunications companies like IHS and Huawei, are participating in the strike.
The union’s demands include the reinstatement of dismissed workers, formal recognition of the union, better working conditions, and the proper remittance of membership dues.
Abdullahi highlighted that the strike was unavoidable due to worsening working conditions and the employers’ refusal to acknowledge workers’ rights to unionize.
He stressed that the strike’s impact could be significant, as the lack of response to service outages from engineers would directly affect subscribers in the affected areas.
In response, Gbenga Adebayo, Chairman of the Association of Licensed Telecom Operators of Nigeria (ALTON), has dismissed the union’s claims, stating that the group in question is not affiliated with ALTON.
He clarified that the telecom companies mentioned—MTN, Globacom, Airtel, and 9-mobile—are not members of ALTON and thus not involved in the dispute.
The US Dollar and Bitcoin rise again as Trump reportedly wins the presidential election with 279 Electoral College votes against Kamala Harris’s 22. Major investors have now returned and do no longer need to be cautious.
Investors now anticipate Trump’s policies economically, Dollar has now strengthen again and is now against Euro and Pound which were gaining benefits over Dollar being weak. With Trump’s win, crypto and Bitcoin have strongly risen and are set with expectations higher prices and a boost in U.S savings returns.
The Upcoming United State Presidential has caused USD to be weak due to the investors being cautious of the outcome. Meanwhile other countries are gaining strength in their currency and benefitting from this weakness. Euro and GBP keeps rising and gaining against USD.
Gold prices still remain stables despite the recent deadline and the Australian inflation keeps rising. Markets are now watching the political movement to serve as guidance.
Security Expert, Dr. Kingsley Aguoru has advised the Central Bank of Nigerian (CBN) and Economic and Financial Crimes Commission (EFCC) to stop the use of online transactions through Card Pins as it results to a security risk.
He emphasized the risks we can be exposed to, phishing and cyber threats, he states that the use of one-time passwords can serve as an aid in this to better the security.
The expert shares that pins are only safe when in use for ATM and Pos but not online, due to cyber risks. He expressed that information can be leaked from the continuous use of sharing pins online.
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