· R-L: Joe Ajaero and Godwin Emefiele

 

 

 

…Plan to shelve proposed cash scarcity strike upon positive outcomes

//ONYEKA-AJUMOBI ONOCHIE// SHARE THIS

The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have vowed to monitor CBN’s steady supply of cash to deposit money banks (DMBs) to put an end to uncertain availability of cash for the citizenry.

The two Labour unions gave this condition for suspending its planned mother-of-all strikes slated for Wednesday.

According to them, they would monitor the availability of cash in commercial banks for two weeks before deciding on the next line of action.

Presidents of NLC, Joe Ajaero and TUC, Festus Osifo said this during a joint press conference on Tuesday in Abuja at the end of their National Executive Council meetings.

Recall that the NLC had, on March 13, issued a seven-day ultimatum to the CBN to make naira notes available for all, especially Nigerian workers.

The Congress threatened to picket CBN branches nationwide if the condition continued unabated.

Responding as a panicky measure, the CBN, last weekend, released old N500 and N1000 notes to commercial banks and directed the banks to operate on Saturdays and Sundays to quickly end or alleviate the cash crunch.

The apex bank also met with the leadership of the NLC at the weekend on plans to ease the cash crunch.

Ajaero said after receiving briefings from its state councils in the 36 states of the federation and the Federal Capital Territory, the NLC decided to defer the planned stay-at-home directive issued to workers last week.

He said reports from its state councils showed that the situation was easing off, with workers having access to cash on gradual basis.

Ajaero however said queues were beginning to resurface in some banks, and said the NLC would resume the planned protest if naira notes assume another status of a scarce commodity to Nigerians in two weeks’ time.

He said committees have been set up at both the national and state levels to monitor situations in banks and report to it at the end of the two week extension./SHARE THIS

• Tags: Joe Ajaero, NLC, Festus Osifo, TUC, Godwin Emefiele, CBN, Chris Ngige, HML&E

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