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Tuesday, November 28, 2023

NLC delays strike action over naira scarcity for 2 weeks, monitor compliance by CBN

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The Nigeria Labour Congress (NLC) has put on hold its planned strike action due to Naira scarcity for the next two weeks, according to the Congress. This is to allow it to monitor the level of compliance by the Central Bank of Nigeria (CBN) on Naira notes distribution and availability to Nigerians.

After receiving reports from monitoring teams across the 36 states and all the local government areas, the apex bank was given a pass mark on the level of compliance, leading to the decision to extend the strike by two weeks.

At a media briefing in Abuja on Tuesday, the NLC National President, Comrade Joseph Ajaero, stated that the problem of Naira notes scarcity has improved to an average level. He added that the CBN deputy governors had a fruitful meeting with the Congress, where they were presented with proposals on how best to solve the problem, which they immediately swung into action.

Ajaero expressed doubt on the sustainability of the compliance and the need to monitor it for the next two weeks to ensure its effectiveness. He noted that commercial banks were getting empty again, leading to queues in some of them, making it naive for the Congress to call off the action without sustainable compliance by the CBN

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