By Business AM
The Nigeria Labour Congress (NLC) has suspended its proposed nationwide strike scheduled to commence on Wednesday, March 29, over the unavailability of naira notes.
NLC made the disclosure in a press conference in Abuja at the end of its national executive council meeting, noting that it would monitor the availability of cash in commercial banks for two weeks before deciding on the next line of action.
Joe Ajaero, the NLC president, said the congress decided to defer the planned stay-at-home directive issued to workers last week, after receiving briefings from its state councils in the 36 States and the Federal Capital Territory.
According to Ajaero, a committee has been set up to monitor situations in banks and report to it at the end of the two week extension.
The NLC president, however, warned that the planned strike would resume if the cash scarcity suffered by Nigerians persists by the end of the two weeks.
Prior to the latest development, the Nigeria Labour Congress had issued a seven-day ultimatum to the federal government to resolve the naira crunch issue in the country by making the currency available to Nigerians via the deposit money banks.
The labour union had threatened to embark on a nationwide strike from Wednesday,March 29 and also, besiege CBN offices nationwide, if the cash scarcity was not addressed promptly before the expiration of the ultimatum.
Chris Ngige, the minister of labour and employment, in reaction to the threat, conducted a meeting with officials of the NLC and Central Bank of Nigeria in Abuja, on Monday,March 29.
In his remarks, Ngige refuted the allegation by the NLC that the ministry did nothing about the unavailability of naira notes.
The minister stated that on receiving the letter from NLC, he forwarded it to the CBN Governor before travelling out of the country for an International Labour Organisation (ILO) Governing Board meeting. He added that he directed the permanent secretary and trade union services and industrial relations department to follow-up proceedings.
On his part, Emefiele explained that when he received the letter from the Federal Ministry of Labour and Employment, he called the NLC president to brief him on steps taken to alleviate the sufferings of the masses. He noted further that he made appointments and had fruitful discussions with the NLC president on the matter.
According to the CBN governor, large volumes of funds were made available to the deposit money banks and they have complied under strict supervision by the apex banks,resulting in a significant improvement in the circulation of cash across the country.
The NLC president, who acknowledged that meetings have taken place in the spirit of good dialogue, encouraged the CBN to improve on their services, regretting the information gap created in the implementation of the naira redesign policy.
