NLC Urges Immediate Action on Naira Scarcity
The Nigeria Labour Congress (NLC) has called on the Federal Government and the Central Bank of Nigeria (CBN) to urgently address the current scarcity of naira affecting Nigerians. The NLC emphasized that the disregard for warnings by the CBN and the government regarding the scarcity is causing frustration among citizens and eroding confidence in the system.
Speaking at a press briefing in Abuja, NLC President Mr. Joe Ajaero expressed deep concern about the cash crunch and its implications, especially with the festive season approaching. He highlighted the hardships faced by Nigerians during a similar cash shortage earlier in the year, stressing that the current situation must be swiftly resolved to avoid a repeat of the past difficulties.
Ajaero criticized the CBN’s explanation for the scarcity, particularly the suggestion that individuals with ill-gotten wealth were hoarding cash. He questioned whether this indicated an increase in corruption since the current administration took office and raised concerns about the impact on ordinary citizens.
The NLC President also highlighted the additional financial burden placed on Nigerians due to the scarcity, including higher costs for accessing their own money through services like Point of Sale (PoS) transactions. He emphasized that such circumstances devalue the income of already struggling citizens and called for immediate action to address the situation.
Ajaero urged the government to prioritize the welfare of its citizens and take decisive steps to alleviate the cash crunch. He called for improved banking services to ensure the availability of cash at ATMs and bank branches, as well as transparent communication from the CBN regarding measures being taken to resolve the issue.
In conclusion, Ajaero emphasized the importance of ensuring that Nigerians can enjoy the festive season without undue financial strain, underscoring the need for swift action to mitigate the impact of the cash shortage on the populace.
Source: Daily Trust
