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“Fix Cash Scarcity Now to Ease Nigerians’ Suffering” – NLC Urges Federal Government
The Nigeria Labour Congress (NLC) has called on the Federal Government to urgently address the ongoing cash scarcity affecting citizens across the country.
This appeal came from NLC President Joe Ajaero, who, alongside NLC General Secretary Emmanuel Ugboaja, signed a communiqué issued after the National Executive Council (NEC) meeting held in Owerri on Thursday.
During the NEC session, Ajaero expressed concern over the continuous lack of cash
He described it as an unjust hardship that further burdens Nigerians who are already enduring economic difficulties.
Also, he mentioned the exploitative nature of the situation, pointing out that Nigerians are being forced to lose up to five per cent of their money every time they withdraw cash due to exorbitant fees imposed by financial institutions.
This practice, he noted, is unfair and exacerbates the financial struggles faced by millions, particularly those in the informal economy.
Ajaero stressed that small businesses and informal workers, the backbone of Nigeria’s economy, are particularly vulnerable.
Many of these businesses rely on daily cash transactions, and the persistent scarcity threatens their survival and growth.
“The impact of this on small businesses and other informal economy operatives is huge,” he explained.
The NLC is demanding immediate intervention from the government to resolve this issue and uphold the financial rights of citizens.
Ajaero specifically called on the Central Bank of Nigeria (CBN) to take decisive steps to ensure the availability of cash.
According to him, this is crucial not only for easing everyday transactions but also for stimulating economic activities across the country.
“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 stated.
TV anchor Rufai Oseni makes headlines as he speaks on fuel subsidy in Nigeria. He shared that Nigeria can have fuel subsidy without the long queues at filling stations.
“When we were still paying subsidies, there were no long queues. We were subsidising. So you can still have a subsidy regime going on, and there will be no long queues because production was close by. Dangote had it. That’s just it. That argument also falls flat.
“The biggest beneficiaries of subsidy are not Nigerians. They are crony capitalists that have big infrastructure, and they do contracts. They have been the biggest beneficiaries of the subsidy,” he said.
Lagos State Governor, Sanwo-Olu, speaks to those in the electricity sector about the usual blackouts in the state.
He speaks on ways things can change in the state and how electricity can be provided.
“We need to drop corporate egos, abandon long-standing excuses, and confront the harsh realities obstructing progress in the power sector.”
“We, state governments, used to give excuses that everything is centralised, so the Federal Government has unbundled it now. What have we done in a year and a half?” Sanwo-Olu asked.
“We take two steps forward, we go five steps backward,” he said.
Lagos State Governor Babajide Sanwo-Olu has declared Thursday, August 20, a work-free day for public servants in the state to mark the Isese Festival.
Speaking on the celebration, he said “Ìṣẹ̀ṣe is not a relic. It is a living expression of our traditions and a celebration of Yoruba spirituality as an important part of Nigeria’s cultural and religious landscape,” he said.
He added “When the drums sound in Lagos on Thursday, they answer drums in Havana, in Salvador, in Port of Spain. Fifty-five million people and counting. Lagos is not observing a local holiday. Lagos is standing at the centre of a global heritage,” Aregbe said.
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