"These reasons are unacceptable": NLC threatens Tinubu, CBN

• President Bola Tinubu-led federal government and the CBN have been threatened with another protest by the NLC national president, Joe Ajaero
• Ajaero, in a statement, said public massive protest is imminent if Tinubu and the CBN fail to address the growing naira scarcity menace currently hunting the country
• The NLC president said Nigerians should not be subjected to experiencing naira scarcity again as they did earlier this year

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FCT, Abuja - The Nigeria Labour Congress (NLC) has threatened President Bola Tinubu and the Central Bank of Nigeria (CBN) over the scarcity of cash in Nigerian banks.

As the Christmas Day celebration approaches, the national president of the NLC, Joe Ajaero, in a statement, explained the severe implications of the situation on Nigerians and called on the government to take urgent steps to address it, The Punch reported.

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NLC warns Tinubu, CBN to address naira scarcity or face massive protest

Recently, Nigerians have been lamenting their inability to access cash in banks for their daily needs despite the CBN's assurance to address the situation.

The banks have been rationing cash over the counter, and many automatic teller machines (ATMs) are not dispensing cash.

But the NLC, in a statement, said that President Tinubu-led federal government and the CBN should expect mass public protest should nothing be done to address the shortage of the Nigerian currency.

Nigerians can't ensure naira scarcity again, NLC tells Tinubu, CBN

Ajaero maintained that the "ill-conceived and ill-implemented currency redesign policy" that Nigerians experienced earlier this year was still fresh in their minds, and they would not tolerate a repeat of naira scarcity in the country.

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The NLC president said there is no reason Nigerians should be subjected to the naira scarcity-like situation in 2023, adding that the government and the CBN have no excuse to give to their people.

His statement reads in part:

"We have heard reasons like the increase in fake notes in circulation and the hoarding of the naira. These reasons are clearly unacceptable as we cannot see anything that will make any Nigerian hoard the naira. In any case, it is not the ordinary Nigerian that hoards money in their houses.”

"A new wage regime": FG speaks on date to kick off new minimum wage payment

Legit.ng earlier reported that President Tinubu's administration announced that federal government workers will start receiving a new minimum wage from April 1, 2024.

Idris Mohammed, Tinubu's minister of information and orientation, stated this in a recent interview.

Mohammed's remark followed an analysis of the 2024 –2026 Fiscal Framework budget which showed that Tinubu's administration planned to spend N24.66tn on salaries.

Source: Legit.ng