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Naira Scarcity: Labour Threatens To Shut Down CBN

Old Naira Notes Remain Legal Tender Indefinitely - CBN

Nigeria Labour Congress, NLC has threatened to shut down the Central Bank of Nigeria, CBN, for failure to make cash available to Nigerians, causing untold hardship.

Gatekeepers News reports that the President of NLC, Comrade Joe Ajaero stated this while briefing journalists in Abuja at the end of the Central Working Committee, CWC, meeting to review the seven-day ultimatum given to the Federal Government to make cash available to the people.

Comrade Ajaero urged Nigerians to bear with the NLC, as the action was meant to reduce the sufferings citizens are going through as a result of the naira scarcity.

He explained that the union took the decision when it noticed that the situation appeared to be getting worse despite the Supreme Court order allowing the old N500 and N1000 notes to circulate with the new notes till December 31.

Ajaero directed all NLC’s affiliate unions and their state councils to begin mobilisation on Friday for the nationwide mass action, stressing the Federal Government and the CBN have not shown any commitment to address the situation.

Ajaero lamented that workers could no longer access cash to pay fares to their respective workplaces or buy food for their families.

He said, “Last week at the end of our CWC (Central Working Committee) meeting, we gave a one-week ultimatum for the Federal Government to address immediately, among other issues, the issue of cash crunch that was caused by the policy. As of this morning when the CWC met again to review the situation, we discovered that not much improvement has been made.

“The situation is still almost the same. People are still buying our currency with our currencies. People no longer have access to the currency and the government seems to be very adamant about this. No moves have been made to reduce the suffering of Nigerians.”

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