NLC Satisfied With Cash Flow, Seeks To Clear Pending Issues In Two Weeks - Lambaba Media



Friday, March 31, 2023

NLC Satisfied With Cash Flow, Seeks To Clear Pending Issues In Two Weeks


The Nigeria Labour Congess (NLC) has expressed satisfaction with efforts geared towards increasing cash flow around the country, following the nationwide scarcity occasioned by the naira redesign and cash swap policy of the Central Bank of Nigeria (CBN).

“As far as our members are concerned nationwide, they are satisfied with minimum doubt which we want to clear within the next two weeks,” the NLC President, Joe Ajaero, said Friday during a live appearance on Channels Television’s Sunrise Daily.

“[All the] banks are not [performing] the same; some of the banks are doing relatively better than others. So, we want to monitor the activities of some banks who I may not want to mention here, so that I don’t demarket them.”

The CBN last week directed all commercial banks to open for operation on Saturdays and Sundays, adding that banknotes had been evacuated from its vaults to commercial banks across the country.

According to the apex bank, the directive was part of a coordinated effort to ease the circulation of banknotes of various denominations with a substantial amount of money, in various denominations, having been received by the commercial banks for onward circulation to their respective customers.

Labour Party Ties

On the NLC’s ties to the Labour Party (LP), Ajaero delineated the union and the party, while acknowledging their shared history: the NLC formed LP in 2002.

Though the party came third in the keenly contested 2023 presidential elections, the party and its candidate, Peter Obi, are challenging the outcome at the elections petition tribunal.

Ajaero however noted that the matter of whether Obi won or not is left for the courts.

“Even if the Labour Party candidate had won the election, the NLC position would not change on issues fundamentally, on the issue of deregulation, on the issue of the wages of workers,” he said.

“We’ve been able to draw a line between how we function as NLC and how the Labour Party informed by NLC should operate. So, any administration that extends their hand of fellowship, we will work with them.”

Noting that the union is worker-specific rather than political, the NLC president said issues that affect the workforce and the Nigerian masses would be pursued vigorously, notwithstanding who is in government. 

He added that the presidential candidates of various parties, including the LP, had been handed its Workers Charter of Demands, which he says the union is going to pursue.

“If they decide not to work with us, so be it,” he added.

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