NLC Urges Federal Government To Urgently Address Cash Shortage

NLC Urges Federal Government To Urgently Address Cash Shortage

The Nigeria Labour Congress (NLC) has urged the Federal Government to take immediate action to tackle the cash scarcity affecting the nation…READ MORE…

In a statement released on Thursday in Abuja, NLC President Joe Ajaero, alongside General Secretary Emmanuel Ugboaja, expressed concerns during a National Executive Council (NEC) meeting held in Owerri.

Ajaero indicated that the NEC viewed the ongoing cash shortage as a grave and exploitative burden on the struggling populace. He noted that Nigerians are being forced to sacrifice five percent of their funds each time they access cash, a situation he deemed unacceptable and detrimental to many.

“The impact on small businesses and informal economy workers is significant, as this issue creates severe challenges for the poor and working class,” he explained.

The NLC is demanding prompt government intervention to address this systemic failure and protect citizens’ financial rights. Ajaero emphasized that the Central Bank Governor should take measures to ensure cash availability to facilitate small business transactions and stimulate economic growth.

Additionally, he called for the suspension of the current tax bill pending before the National Assembly, advocating for broader consultation and meaningful engagement with Nigerian workers. He expressed concern that the politicization of the bill and exclusion of key stakeholders hinder its effectiveness in revitalizing the economy.

“An inclusive dialogue is essential for establishing a fair and equitable tax system that benefits all citizens,” he remarked.

In addressing issues of insecurity, Ajaero highlighted alarming media reports that indicated Nigerians had paid N2.23 trillion in ransoms this year alone, linked to over 51.8 million crime incidents. This dire state of insecurity, according to Ajaero, necessitates urgent government action to protect lives and property, restore public confidence, and uphold the rule of law.

He pointed out that most victims of violence are workers, underscoring the need for decisive action.

The NEC also condemned the recent invasion and looting of the NLC Edo State Council Secretariat by the police and state government, decrying the unlawful removal of property aimed at imposing illegitimate leadership on workers.

The NEC has set a deadline of 14 working days, until January 8, 2025, for the Edo State government and police to vacate the secretariat, return all confiscated items, and cease interference in trade union activities.

Failure to comply with these demands will prompt the Congress to take unprecedented measures to defend the rights of workers and trade unions.

Ajaero reaffirmed the NLC’s unwavering commitment to safeguarding the rights and welfare of workers and the broader Nigerian populace, encouraging citizens to find moments of hope amidst the challenges.

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