Academic Staff Union of Universities (ASUU) has suspend its five months-old strike, Daily Post reports.

The Union arrived at the latest decision to suspends its strike after a marathon meeting held at the Federal University of Technology (FUT), Minna, Niger State on Monday.

A source at the Presidency in Abuja said government had been made aware of the happy development. “Since Christmas is already on the way, we believe most schools may wait till January before resuming,” the source told News Express.

The meeting by ASUU today was called in keeping with the promise of ASUU President, Dr. Nasir Isa Fagge, who said shortly after the signing of the Mou in Abuja that the union would meet within a week to decide on whether to call off the strike which has crippled the country’s public universities since July 1.

The MoU was signed 24 hours after the Central Bank of Nigeria (CBN) confirmed that a sum of N200 billion agreed with the Academic Staff Union of Universities (ASUU) at a meeting with President Goodluck Jonathan on November 5 had been fully paid into a Revitalization of Universities Infrastructure Account.

ASUU embarked on the strike following government’s failure to implement a funding agreement signed with the union in 2009.