The Nigeria Labour Congress (NLC) has urged the Federal Government to urgently address the persistent cash scarcity affecting citizens nationwide.
In a statement jointly signed by NLC President, Mr. Joe Ajaero and General Secretary, Mr. Emmanuel Ugboaja, the call for action was made following the National Executive Council (NEC) meeting held in Owerri. The communique expressed deep concern over the ongoing cash shortage, describing it as a severe burden on Nigerians already grappling with economic hardships.
The NEC highlighted that many citizens are compelled to surrender five percent of their funds each time they withdraw cash, an exploitative practice worsening the financial challenges faced by millions. Small businesses and informal economy operators have been particularly hard hit, as the scarcity creates disproportionate difficulties for the poor and struggling workers.
The NLC demanded immediate intervention from the Central Bank of Nigeria (CBN) to ensure adequate cash circulation, enabling small business transactions and boosting economic activities. Ajaero emphasized that the government must act swiftly to protect citizen’s financial rights and ease the strain on the economy.
On another note, the NLC called for the suspension of the proposed tax bill currently under consideration by the National Assembly. According to Ajaero, the lack of consultation with Nigerian workers and other key stakeholders undermines the bill’s potential to revitalize the economy. He stressed the importance of inclusive dialogue to establish a fair and equitable tax system that benefits all Nigerians.
The NEC also raised alarms about the worsening insecurity across the country. Citing media reports, Ajaero revealed that Nigerians paid an estimated N2.23 trillion in ransom this year alone, linked to over 51.8 million recorded criminal incidents. He called on the government to take decisive measures to protect lives and property, restore public confidence, and uphold the rule of law. He added that workers bear a significant portion of the casualties, either through loss of life or permanent injuries.
Regarding the recent invasion of the NLC Edo State Council Secretariat, the NEC condemned the actions of the police and the state governor. The statement alleged that the invasion involved ransacking the premises and removing items in an attempt to impose illegitimate leadership on the workers.
The NEC issued a 14-working-days ultimatum, up to January 8, 2025, for the state government and police to vacate the premises, return all confiscated items, and commit to refraining from further interference in trade union activities. Failure to comply, Ajaero warned, would prompt the Congress to take unprecedented action in defense of workers and trade union rights.
The NLC reaffirmed its unwavering commitment to safeguarding the rights and welfare of Nigerian workers and the general public. Ajaero also encouraged citizens to find hope, resilience and unity during the festive season despite prevailing challenges.