NLC To FG: Fix Cash Scarcity Immediately

NLC National President, Joe Ajaero

The Nigeria Labour Congress (NLC) on Tuesday asked the Federal Government and the Central Bank of Nigeria (CBN) to immediately solve the lingering cash scarcity being suffered by citizens.

Speaking at a press briefing held in Abuja on Tuesday President of NLC, Joe Ajaero said the Naira scarcity is adding to the suffering of Nigerians.

He said, “The Nigeria Labour Congress (NLC) is deeply concerned about the recent cash crunch that has gripped the Nigerian economy, particularly as the nation approaches the festive season. This economic challenge has far-reaching implications for the citizens of our great nation, and urgent steps must be taken to address this issue to prevent further hardship for the already suffering Nigerian populace.

“Fresh in the minds of every Nigerian is the excruciating conditions that we were all subjected to as a result of the last cash crunch earlier this year, orchestrated by the ill-conceived and ill-implemented currency redesign policy of the immediate past government.

“The sorrow that the botched exercise foisted on us is not what Nigerians wish to witness again in one year. This time, there is no discernible reason by the CBN neither any explanation from the Government for why Nigerians should be subjected to this level of suffering once again in 2023.”

Ajaero, if the CBN claimed that those with ill-gotten wealth were stashing cash in their houses to avoid detection, it would be a heavy indictment on the government’s anti-corruption agenda.

Describing the development as “shameful”, the labour leader noted, “this is because what the CBN is saying is that since the assumption of office of this government, the level of graft has increased, resulting in the creation of hideouts for the slush funds.

“The question then is; should the ordinary citizens be made to suffer the apparent incompetence of government in prosecuting the anti-corruption war or is it that there is actually no anti-corruption war going on?”

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