NLC threatens strike as CBN orders banks to come for old notes

Nigeria Labour Congress (NLC) has directed public sector workers to embark on a nationwide strike beginning from next Wednesday. Its president, Joe Ajaero, gave the directive yesterday during a media briefing in Abuja. He also directed the affiliates to get set for picketing of Central Bank of Nigeria (CBN) branches across the federation.

Ajaero said the order was consequent upon the expiration of a one-week ultimatum given to the apex bank to make cash available for Nigerians.
BUT reliable sources at the CBN said last night that banks had been ordered to collect the old Naira notes they deposited in CBN, assuring that before the end of the week, the country would be awash with the currency. They said that there would be no need for any action by Labour

NLC had urged the Federal Government to address the hardship faced by Nigerians due to challenges posed by currency, fuel scarcity and electricity tariff hike.
 
The central labour body, in a communiqué, said the three were among the most contending issues its Central Working Committee (CWC) raised serious concern over. 
 
The communiqué specifically charged government to take immediate action to cushion the alarming economic and social hardship facing Nigerians. It reads: “CWC said poor implementation of the Naira re-design policy has caused considerable pain and hardship to the people.  
 
“Accordingly, CWC resolved to give government seven working days, beginning from Tuesday, March 14, to make Naira notes available or Congress would be compelled to direct its members to withdraw services.
 
“Similarly, the CWC-in-session, after reviewing the fuel supply situation in the country and the attendant arbitrary cost at filling stations, expressed dismay at the nonchalance of NNPC and government. It, accordingly, resolved to ask the NNPC/ FGN to normalise the fuel supply situation.
 
“The CWC expressed its outrage at the surreptitious increase in electricity tariff without notice and without improvement in quality of service. CWC resolved that henceforth, any surreptitious increase would be met with appropriate response.”