NLC directs workers to shut down CBN offices nationwide over naira scarcity

Key highlights

• The NLC directed that from Wednesday next week, all CBN branches across the country will be picketed, with workers also directed to stay at home.
• NLC’s decision follows the expiration of its earlier ultimatum to the federal government and the CBN to end naira scarcity and no commitment from the 2 parties to end the crisis.
• NLC also said workers can no longer go to offices or eat and have been pushed to the wall

The leadership of the Nigeria Labour Congress (NLC) on Wednesday directed all workers to picket all the offices of the Central Bank of Nigeria (CBN) nationwide with effect from next week over the current cash crunch in the country.

This is coming barely 9 days after NLC issued an ultimatum to the Federal Government to end the fuel and naira scarcity or they will direct workers to stay at home.

The directive was given by the NLC President, Joe Ajaero, at an ongoing press briefing at the Labour House in Abuja.

Ajaero said the directive became imperative following the expiration of a one-week ultimatum given to the apex bank to make cash available for Nigerians.

He also directed that affiliate unions constituting the NLC should also be on standby for picketing exercise across all branches of the Central Bank of Nigeria (CBN) nationwide.

NLC’s ultimatum

NLC had on March 13, 2023, issued a 7-day ultimatum to the federal government to end the petrol and naira scarcity being experienced across the country.

The newly elected president of NLC. Joe Ajaero, had at the opening session of the union’s central working committee (CWC) meeting, where he issued the ultimatum, expressed concerns over the hardship that Nigerians were made to face as a result of the naira redesign policy of the Central Bank of Nigeria (CBN) which has been poorly implemented.

He warned that if nothing was done to improve the situation by the end of the seven-day period, workers would be directed to stay away from work.

• He said, “On this issue of fuel scarcity and cash crunch, congress wishes to inform the federal government that we will no longer keep quiet.’’
• “NLC is giving the CBN and the FG seven working days, if they fail to do the needful at the expiration of the seven days, all workers in Nigeria should stay at home.”

Nigerian workers have been pushed to the wall

Ajaero during a chat with journalists said the industrial action became the last resolve of the NLC following the expiration of the ultimatum.

He said the decision to picket CBN branches became necessary as the federal government and the CBN have failed to show any commitment to addressing the situation.

The NLC President lamented that despite the Supreme Court order that the old N200, N500 and N1000 notes remain legal tender until December 31, 2023, the situation kept getting worse.

He said workers could not access cash to pay fares to work nor buy food for their families.

• He said, “Last week, we gave an ultimatum for the review of the cash crunch bedeviling the country, but we have discovered to our dismay that as at this moment not much effort has been made to ameliorate the situation, the government is still foot-dragging on these issues we raised,”
• “Based on this, we met again this morning to review our position and resolved that by Wednesday next week all CBN branches will be picketed, workers are directed to stay at home too because people cannot eat, workers can no longer go to the office, we have been pushed to the wall.
• “We have decided to take our destiny in our hands, we have mobilised our workers on this exercise.”