To put an end to the country’s naira shortage, the NLC leadership has given the Federal Government a seven-day deadline.
Chris Ngige, the minister of labour and employment, and Godwin Emefiele, the governor of the Central Bank of Nigeria (CBN), met with the leadership of the Nigeria Labour Congress (NLC) on Monday to try to prevent a statewide strike by the NLC.
To put an end to the country’s naira shortage, the NLC leadership had given the Federal Government a seven-day deadline. If the problem was still unresolved at the end of the ultimatum, NLC President Joe Ajaero had threatened that the Congress would go on strike.
Ngige then requested a Monday meeting to discuss the issue with the NLC and the apex bank leadership.
In a statement, Olajide Oshundun, the ministry of labour and employment’s director of press and public relations, revealed this.
The statement stated that the CBN Governor, Godwin Emefiele, was accompanied by two Deputy Governors, Kingsley Obiora (for economic policy) and Ade Shonubi (for the organised private sector). The NLC delegation, which consisted of ten people, was led by the President, Comrade Joe Ajaero, and the General Secretary, Emmanuel Ugboaja.
The minister denied the NLC’s claim that his ministry took no action in response to the issue in his remarks.
He claimed that after receiving the letter from the NLC, he forwarded it to the governor of the Central Bank of Nigeria (CBN) and gave them instructions to follow up before leaving the country for an ILO Governing Board meeting.
Emefiele claimed that after receiving the letter from the Labour Ministry, he called the head of the National Labour Congress to inform him of the measures taken to lessen the suffering of the people. He also set up a meeting with the NLC president and had a productive conversation as a result, he claimed.
The deposit money banks, according to him, received a sizable amount of money, and they were instructed to open their branches on Saturdays and Sundays. The CBN strictly oversaw their compliance.
Nigerians have reportedly been enjoying their money as a result of the actions taken, according to Emefiele.
Ajaero had earlier claimed they had only received an invitation to the meeting after receiving a response to their second letter to the ministry.
Since the CBN started transferring money to the banks and Nigerians could now access their money, he claimed that they did not anticipate any problems. He also acknowledged that meetings had been held in an atmosphere conducive to constructive discussion.
While regretting the information void the Naira Redesign’s implementation had created, he nevertheless urged the CBN to enhance its services.
The NLC was unable to prevent CBN from making wise decisions and carrying them out in the best interests of the country. NLC would explain everything to the people who complained if stakeholders had been invited and briefed on the policy. In contrast, the CBN worked alone in this instance. Ajaero was quoted as saying that now is not the right time to implement such a national policy.
He gave the assurance that the National Executive Committee (NEC) of the NLC will convene on Tuesday, March 28, 2023, and that members from the states and local government areas would report on the financial situation. The NEC would then decide whether or not to authorise a strike.
The minister gave everyone the reassurance they needed, however, that whether the NLC is engaging in a dispute over rights or interests, the issue has been recognised and can only lead to more discussion rather than a strike.
