Written by on March 28, 2023

Minister of Labour and Employment, Chris Ngige has met with the Central Bank of Nigeria, CBN Governor Godwin Emiefele and Nigeria Labour Congress President, Joe Ajaero, in an effort to avert a nationwide strike billed to begin on Wednesday, over Naira scarcity.

The NLC had threatened to embark on nationwide industrial action if the cash crunch, fuel scarcity and electricity tariff increases were not addressed within the ultimatum given to the government.

In response to the strike threat, Ngige invited the NLC leadership and the CBN Governor to resolve the differences.

The NLC had a 10-man delegation while the CBN Governor was accompanied by two Deputy Governors, including Kingsley Obiora in charge of Economic Policy and Ade Shonubi responsible for the Organised Private Sector.

Ngige told both parties that it was not true that his Ministry did nothing about the matter. He said on receiving the letter of strike and protest from NLC, he forwarded same to the CBN Governor before travelling out of the country for an International Labour Organisation Governing Board meeting.

For his part, Emefiele said when he received the letter from the Labour Ministry, he called the President of NLC to brief him on steps taken to alleviate the sufferings of the masses. He said his delegation to NLC last week had fruitful discussions which resulted in a large volume of funds being made available to the Deposit Money Banks.

According to Emiefele, banks were directed to open their branches on Saturdays and Sundays and they complied under strict supervision by the CBN.

Earlier, the NLC President, Joe Ajaero said they only got a reply to their second letter to the Ministry and subsequently, an invitation to the meeting.

He said they no longer envisage any problem since CBN has started sending cash to the banks and Nigerians were now accessing their money, he acknowledged that the meetings have taken place in the spirit of good dialogue.

He urged the CBN to improve on their services, regretting that lack of information created gaps in the implementation of the Naira Redesign Policy.

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