NLC reconsiders strike as CBN opens vault to banks

Written by on March 27, 2023

The Nigeria Labor Congress (NLC), which had planned an industrial action on Wednesday to protest the naira scarcity, to retreat the planned action.

The President of the NLC, Joe Ajaero, disclosed this to the newsmen that  the National Executive Council (NEC) of the Congress will be meeting on Tuesday to reassess and review cash availability across the nation and finalize its strategies

He added that if the compliance level across the country is high to the extent that Nigerians can easily access their money, the NLC might suspend the nationwide strike.

According to a source privy to a meeting between NLC and the Central Bank of Nigeria (CBN) explained that the apex bank said it had disbursed N20 billion to banks nationwide.

The source said the apex Bank promises to continue disbursing more money to the banks to address the scarcity caused by its naira redesign policy.

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