Monday, May 29, 2023

We’re Not Satisfied With CBN Level Of Compliance – Labour

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The Organized Labour on Tuesday has stated that it was not satisfied with Central Bank of Nigeria (CBN) compliance level on the availability of cash in banks.


The Organized labour said though, there was some level of improvement in making naira notes available through banks, it was not yet satisfied because many Nigerians are still finding it difficult to get the naira notes.

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Consequently, the organised labour has extended the deadline given to the nation’s apex bank, the CBN, to ensure the availability of naira notes for two weeks.

Briefing journalists in Abuja, President of the Nigeria Labour Congress, NLC, Conrade Joe Ajaero flanked by his Trade Union Congress, TUC, counterpart, Comrade Festus Osifo, said some banks did not comply with the directives that cash should be made available without stress.

Comrade Ajaero said that the organised labour will not shut down the CBN branches on Wednesday but was ready for a long distance race as regards the struggle to ensure that the sufferings are reduced.

READ ALSO: BREAKING: NLC Suspends Strike Over Naira Scarcity

He said after its NEC, NLC doubted the sustainability of the compliance level by banks, adding that the two weeks extension of the deadline was to monitor the compliance.

According to him, some of the commercial banks are getting empty and that some of them did not open for transactions on Saturday and Sunday as agreed.

He called on the management of the CBN to play their regulatory role to ensure that the commercial banks comply with the directive.

He said committees were set up at the national level and in all the states to coordinate the level of compliance.

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Photo Credit: Getty

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