The Nigeria Labour Congress (NLC) has called on the Federal Government to urgently address the growing problem of cash scarcity that is affecting millions of Nigerians.
This call was made by Mr Joe Ajaero, the NLC President, during a press briefing in Abuja on Thursday.
Ajaero, alongside Mr Emmanuel Ugboaja, the General Secretary of the NLC, issued a communique after the National Executive Council (NEC) meeting held in Owerri.
The NLC leaders expressed deep concern over the persistent scarcity of cash, which they said was adding to the suffering of an already struggling population.
“We can no longer ignore the severe impact of this crisis,” Ajaero said in the statement.
He described the cash scarcity as an “unfortunate and exploitative burden,” adding that the situation was worsening the economic struggles of ordinary Nigerians.
The NLC President highlighted that Nigerians were being forced to forfeit up to five per cent of their funds every time they accessed cash, a situation he deemed unacceptable.
“This is unacceptable. It’s an exploitative burden that makes life even harder for Nigerians,” Ajaero emphasised.
He said the problem was particularly harmful to small businesses and informal sector workers, who depend on cash for their day-to-day transactions.
“The impact on small businesses is huge. They are struggling because the lack of cash makes it harder for them to function,” Ajaero explained.
He also pointed out that the issue disproportionately affected the poor and working-class citizens, who were already dealing with the country’s high unemployment and inflation rates.
“The situation is even worse for the poor. They are being hit the hardest, and there seems to be no end in sight,” he said.
The NLC President demanded immediate action from the Federal Government to resolve the cash scarcity, urging the Central Bank of Nigeria (CBN) to ensure that cash was made readily available to citizens.
“The government must intervene quickly to solve this problem. The CBN must ensure that cash is available for business transactions, especially for small businesses,” Ajaero stated.
In addition to the cash scarcity issue, Ajaero raised concerns about a proposed tax bill currently before the National Assembly. He demanded that the bill be halted for further consultation with Nigerian workers and other relevant stakeholders.
“We are calling for a halt to this bill. It must be thoroughly discussed with workers before it is passed. The way it is currently being handled is worrying,” Ajaero said.
He criticised the political approach to the bill, which he said excluded important stakeholders and risked making the tax system ineffective.
“The bill should not be politicised. We need a tax system that is fair and beneficial to all Nigerians,” Ajaero added.
Ajaero also spoke out about the growing insecurity in the country. According to media reports, Nigerians spent over N2.23 trillion on ransom payments in 2024, amid more than 51 million recorded crime incidents.
“This is alarming,” Ajaero said. “The situation is getting worse, and the government must act now to restore peace and security to the country.”
He pointed out that many of the victims of crime were workers, who were being killed, kidnapped, or maimed as a result of the insecurity.
“These workers are our brothers and sisters. The government needs to take stronger measures to protect them,” Ajaero urged.
Another serious concern raised by the NLC was the recent invasion of the NLC’s Edo State Council Secretariat by police and state government officials. Ajaero condemned the actions, which he described as a “brazen act of impunity.”
“The police and the state government have crossed the line by invading our secretariat and confiscating our properties. This cannot be allowed to continue,” Ajaero said.
The NLC leadership has given the Edo State government and the police a deadline of 14 working days, until January 8, 2025, to return all confiscated items and vacate the secretariat.
“If they fail to comply, we will take drastic action to defend our rights,” Ajaero warned.
The NLC President made it clear that the union would not tolerate further interference in the activities of Nigerian workers or trade unions.
“We will not allow anyone to trample on the rights of our members. We will do whatever it takes to protect their rights,” Ajaero declared.
Despite the ongoing challenges, Ajaero urged Nigerians to remain hopeful during the festive season.
“Even in these difficult times, we must find moments of hope, strength, and unity. Together, we can overcome these challenges,” he said.
The NLC’s demands come at a time when many Nigerians are struggling to cope with the effects of cash scarcity, inflation, and insecurity.
Small businesses are particularly hard-hit, with many having to reduce operations or shut down altogether due to the lack of cash flow. For millions of Nigerians, the inability to access cash has become a daily crisis, leaving them with little choice but to pay exorbitant fees just to withdraw their own money.
