The Nigeria Labour Congress (NLC) has called on the Federal Government to urgently tackle the ongoing cash scarcity across the country, describing it as a significant burden on struggling Nigerians.
The NLC President, Joe Ajaero, made the appeal in a communiqué jointly signed with the General Secretary, Emmanuel Ugboaja, on Thursday in Abuja. The statement followed the National Executive Council (NEC) meeting held in Owerri.
According to Ajaero, the NEC expressed deep concern over the persistent cash shortages, which it described as an exploitative and unfortunate challenge for the populace.
“The NEC noted that Nigerians are being compelled to forfeit five per cent of their funds each time they access cash. This is an unacceptable situation that worsens the economic hardship of millions,” Ajaero said.
He highlighted the adverse impact on small businesses and the informal economy, stating that the situation disproportionately affects poor and struggling workers.
The NLC demanded immediate government intervention to resolve the issue, urging the Central Bank of Nigeria (CBN) to ensure adequate cash circulation to support small business transactions and stimulate economic growth.
“The NLC expects the CBN Governor to take decisive steps to rectify this systemic failure and safeguard citizens’ financial rights,” the communiqué read.
Additionally, the NLC urged the National Assembly to suspend deliberations on the tax bill currently under consideration. Ajaero criticized the lack of consultation and engagement with Nigerian workers, describing the process as politicized and alienating key stakeholders.
“The politicization of the bill undermines its potential as an effective economic tool. Broader consultations with stakeholders are necessary for meaningful progress,” he added.
