Cash crunch: NLC to occupy CBN offices nationwide

BY UKPONO UKPONG

For failing to make cash available to Nigerians, the Nigeria Labour Congress (NLC), has vowed to shut down all the branches of Central Bank Nigeria CBN nationwide.

Addressing journalists at the end of its Central Working Committee (CWC), meeting in Abuja, the NLC President, Comrade Joe Ajaero directed that all State Councils should start mobilization of members against the proposed picketing which is schedules for Wednesday, March 29.

He said that the picketing became necessary following the federal government’s failure to address the situation of the twin naira and fuel scarcity in the country at the expiration of the seven days ultimatum it issued last week.

The NLC at the end of its CWC meeting last week, had issued a seven days ultimatum to the federal government to address the issue or be ready to face the wrath of the workers.

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Ajaero said that workers can no longer access their money to either buy food or pay their transportation fare to workplace due to the policy initiated by the federal government.

“Last week at the end of our CWC meeting, we gave a one week ultimatum for the federal government to address immediately, among other issues, issue of cash crunch that was caused by the policy. As at this morning when the CWC met again to review the situation, we discovered that not much, improvement has been made.

“The situation is still almost the same. People are still buying our currency with our currencies. People can no longer can still not assess the currency and the government seems to be very adamant on this. No moves have been made to reduce the suffering of Nigerians.

“Consequently, the CWC-in-session resolved to go into the process of actualizing the one week notice.

“From Friday, there will be mobilisation of all state councils through a NEC meeting. All unions have already been directed to mobilise all their organs and their branches. By Wednesday, next week, all Central Bank of Nigeria offices nationwide will be picketed.

“All central bank from the CBN headquarters will be shut till further notice. Workers are directed to stay at home and join in the picketing exercise.

“We call on Nigerians to understand the circumstances we’re operating in. People will be telling you about the political situation. The political situation is self inflicted and the economic situation is worst than the political situation because people cannot eat.

“Workers can no longer go to office and nothing is happening. So we have been pushed to the wall having given one week and we thought they could address the situation which is not addressed.

“We have decided to take our destiny in our hands. So comrades, the mobilisation commences immediately and when we talk of action from Wednesday, it’s total. Until further notice.” Ajaero said

Meanwhile, the Senior Special Assistant to the President on Media and Publicity, Garba Shehu had exonerated President Muhammadu Buhari from the accusation of flouting the Supreme Court order on the new Naira policy.

He said that “President Muhammadu Buhari did not react to the Supreme Court judgement on the issue of the N500 and N1,000 old currency notes, and states here plainly and clearly that at no time did he instruct the Attorney General and the CBN Governor to disobey any court orders involving the government and other parties.”

The presidential spokesman also noted that since the President was sworn into office in 2015, he has never directed anybody to defy court orders, in the strong belief that we can’t practise democracy without the rule of law and the commitment of his administration to this principle has not changed.

“Following the ongoing intense debate about the compliance concerning the legality of the old currency notes, the Presidency therefore wishes to state clearly that President Buhari has not done anything knowingly and deliberately to interfere with or obstruct the administration of justice.

“The President is not a micromanager and will not, therefore, stop the Attorney General and the CBN Governor from performing the details of their duties in accordance with the law. In any case. it is debatable at this time if there is proof of willful denial by the two of them on the orders of the apex court.

“The directive of the President, following the meeting of the Council of State is that the Bank must make available for circulation all the money that is needed and nothing has happened to change the position.

“It is an established fact that the President is an absolute respecter of judicial process and the authority of the courts. He has done nothing in the last eight or so years to act in any way to obstruct the administration of justice, cause lack of confidence in the administration of justice, or otherwise interfere or corrupt the courts and there is no reason whatsoever that he should do so now when he is getting ready to leave office.

“As for the cashless system the CBN is determined to put in place, it is a known fact that many of the country’s citizens who bear the brunt of the sufferings, surprisingly support the policy as they believe that the action would cut corruption, fight terrorism, build an environment of honesty and reinforce the incorruptible leadership of the President.”