The Nigeria Labour Congress (NLC) has called on the Federal Government (FG) to urgently address the current cash scarcity crisis across the country. President, Joe Ajaero, made the call in a communique he jointly signed with Mr Emmanuel Ugboaja, the General Secretary of the labour body in Abuja on Thursday. The communique was issued at the end of the National Executive Council (NEC) meeting held in Owerri. According to Ajaero, the NEC in-session had expressed concern over the persistent cash scarcity in Nigeria. It described the situation as unfortunate and an exploitative burden on the already impoverished populace.
The NEC also noted that Nigerians were being forced to forfeit five per cent of their funds each time they accessed cash. It said that the unacceptable situation had continued to aggravate the economic woes faced by the helpless masses. “The impact of this on small businesses and other informal economy operatives is huge as the situation poses serious disproportionate challenges to the poor and struggling workers and masses,” Ajaero said.
“The NLC demands immediate government intervention to rectify this systemic failure and protect citizens’ financial rights. “We expect the Central Bank governor to take steps to ensure that cash is made available to the citizenry to enable small business transactions and stimulate economic growth,” he said.
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