NLC demands CBN to end currency redesign policy
The Nigeria Labour Congress (NLC) has suspended its planned nationwide indefinite strike over the scarcity of naira notes across the country. The NLC had threatened to shut down activities at all the branches of the Central Bank of Nigeria (CBN) and other banking institutions from yesterday over the CBN’s currency redesign policy that had inflicted pains on Nigerians and businesses.
The NLC president, Mr Joe Ajaero, said the decision to suspend the strike was taken after a meeting of its National Executive Council (NEC) on Tuesday. He said the CBN had engaged the NLC and agreed to take certain measures to make cash available to all Nigerians.
Some of these measures were the NLC’s insistence on Saturday and Sunday full banking services until a healthy cash situation is restored and the expansion and deepening of their sorting and issuing operations to release cash to all bank branches across the nation.
NLC accuses some state governors of interfering with its elections
Ajaero also lamented the difficulties being experienced at petrol stations, where fuel sells for as much as N350 a litre in some parts of the country. He said the NLC would not tolerate any arbitrary increase in fuel prices and would resist any attempt to deregulate the sector.
He also accused some state governors of interfering with the ongoing state council elections of the NLC. He alleged that a governor in one of the states in the Southeast openly campaigned for a particular candidate and sent thugs to disrupt the election and destroy the NLC state secretariat.
He said the NLC would not allow any external influence to undermine its internal democracy and would challenge any illegitimate outcome of the elections in court.
Ngige assures NLC of FG’s commitment to address cash crunch
The Minister of Labour and Employment, Senator Chris Ngige, on Tuesday, assured the NLC that the federal government was committed to addressing the cash crunch and other issues affecting the welfare of workers. He said the government had intervened to avert the strike and protests by the NLC and had reached an understanding with the labour leaders.
He said the CBN had explained the rationale behind the currency redesign policy and had assured the NLC that it was a temporary measure to curb inflation and improve the security of the naira notes. He said the CBN had also promised to increase the supply of cash to the banks and the public and to review the policy in due course.
He appealed to the NLC to cooperate with the government and the CBN and to shelve any further action that could disrupt the economy and the peace of the country.
