The Nigerian Labour Congress (NLC) has voiced grave concerns over the persistent cash scarcity in the country, warning of imminent mass protests if the Federal Government and the Central Bank of Nigeria (CBN) fail to address the naira shortage promptly.
NLC President, Joe Ajaero, in a statement, cautioned that the ongoing scarcity of the naira is unacceptable, citing it as a severe test of the patience of Nigerians and Nigerian workers.
“We are worried that by this action and others, the government may be inciting the people and mobilising them to seek alternative routes for protecting themselves from these perverse policies,” Ajaero said. We believe that the elastic limit of the patience of Nigerians is being breached and no government inflicts this level of pain on its citizenry and expects them to keep quiet for a long time.”
He highlighted the potential consequences of the current situation, noting that forcing Nigerians into revolt due to denied access to basic survival resources will not bode well for the nation.
Ajaero stressed that the current cash crunch threatens to cast a shadow over the festive season, causing increased difficulties for citizens in meeting daily needs and exacerbating economic challenges faced by the populace.
The NLC acknowledged the significance of a vibrant economy and urged President Bola Tinubu’s administration to take immediate, decisive actions to alleviate the cash crunch and reduce its impact on the people.
The Congress urged the government to collaborate with financial institutions to enhance banking services, ensuring the availability of cash at ATMs and bank branches for easy public access.
Additionally, it called for transparent communication from the CBN regarding steps being taken to address the cash shortage and assure citizens about the financial system’s stability.
The NLC stressed that while managing the economy during challenging times presents complexities, the government must prioritize the well-being of its citizens and take immediate action to alleviate their suffering. Failure to address the cash scarcity could lead to further hardships for the already burdened Nigerian populace.