Thursday, June 4, 2026

The Sun Nigeria

Cash scarcity: NLC demands FG’s immediate intervention

NLC

Mr Joe Ajaero (middle) with members of National Executive Council (NEC) at a meeting recentle

…Issues Edo govt 14-day ultimatum to vacate secretariat

 

By Bimbola Oyesola

Against the backdrop of persistent cash scarcity in Nigeria, the Nigeria Labour Congress (NLC) has demanded  immediate government intervention to rectify the systemic failure and protect citizens’ financial rights.

The NLC, speaking after its National Executive Council (NEC) meeting in Owerri, Imo State, said it expected 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.

The meeting convened to toll out the NLC’s South East region’s Compressed Natural (CNG) Bus Services and deliberate on critical issues impacting Nigerian workers and the general populace expressed grave concern over the persistent cash scarcity in Nigeria.

The NLC President, Joe Ajaero and General Secretary, Emmanuel Ugboaja in the communique issued at the end of the meeting described the cash scarcity “as an unfortunate and exploitative burden on the already struggling populace.”

The NLC leadership lamented that Nigerians are being forced to forfeit 5% of their funds each time they access cash, stating that it was an unacceptable situation that exacerbates the economic woes faced by millions.

“The impact of this on small businesses and other informal Economy operatives is huge as the situation poses serious disproportionate challenge to the poor and struggling workers and masses,” it stated.

In the same vein, the Congress has given the Edo State Government and the Police 14 working days ultimate, up to January 8, 2025, to vacate the Secretariat premises, return all confiscated properties to the Congress, and commit to refraining from further interference in trade union activities.

The NLC condemning the actions of the Police and the Governor of Edo State in orchestrating an invasion of the NLC State Secretariat, said, “this brazen act of impunity included the ransacking of properties and the unlawful removal of items, all in a bid to impose an illegitimate leadership on the workers.”

The labour centre warned that failure to comply will compel the vongress to initiate unprecedented measures in defence of workers’ and trade union rights.

The NLC in the same vein, expressed dismay over the worsening insecurity in the country, referencing disturbing reports that Nigerians paid a staggering N2.23 trillion in ransom this year alone across 51.8 million recorded crime incidents.

Reviewing  the data that 614,937 Nigerians lost their lives while 2,235,954 others were kidnapped within one year, the NLC said this appalling state of insecurity underscores the urgent need for the government to take decisive action to safeguard lives and property, restore public confidence, and ensure the rule of law prevails.

It reasoned that majority of the citizens who either lost their lives or are maimed as a result are workers.

Also speaking on the current Tax Bill on the Floor of the National Assembly, the NLC emphasizes that the primary aim of taxation is to generate revenue for running the government.

It however said that the justification of any tax system lies in its impact on the lives of the people.

“A fair and equitable tax system must prioritize fiscal discipline, transparency, and effectiveness in the use of tax funds to deliver tangible benefits to the citizenry,” the Labour centre stated.

The NLC stressed that discussions on taxation in a serious nation cannot exclude those who bear the brunt of the tax burden, emphasizing that the exclusion of organized labour in the formulation of the current Tax Bill is unacceptable and undermines the principles of tax justice.

Noting that if labour is not at the table, it is effectively on the menu,” the Congress demanded that the Tax Bill currently before the National Assembly be halted for broader consultation and meaningful engagement with Nigerian workers.

“The politicization of the Bill and alienation of key stakeholders is worrying and robs it of its capacity as an effective tool to revamp the economy and develop our nation.

“We must go back to this basic. Only through inclusive dialogue can we ensure a just and equitable tax system that benefits all citizens,” he said.