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NEWS

Naira Scarcity: Call CBN to Order Now, TUC Tells President Tinubu

December 23, 2023 • 2 min read

The Trade Union Congress of Nigeria (TUC) on Friday told President Bola Tinubu to call the Central Bank of Nigeria( CBN) to order over the scarcity of Naira in the country.

The TUC said that the unfortunate development had continued to subject Nigerians to needless excruciating hardship by insensitive and heartless agents and agencies of government, whose actions and inactions are really difficult to fathom and impossible to defend.

In a statement signed by the TUC President, Comrade Festus Osofo and the Secretary-General, Comrade Nuhu Toro, the labour centre said it was amazed that the CBN was finding it extremely difficult to make the currency available to the working people and citizens.

The statement read: “The Trade Union Congress of Nigeria has watched with growing concern, alarm and dismay the sudden, inexplicable, acute scarcity of our currency, the Naira, across the country.

“Citizens simply find it difficult to access the Naira from banks and their outlets (especially the Automated Teller Machines, ATM). Consequently, they are being forced to patronize extortionist POS operators who charge Shylock rates.

“We are amazed that the Central Bank of Nigeria is finding it extremely difficult to make our currency available to the working people and the citizens.

“To say the least, this is unfortunate and unacceptable. Nigerians have continued to be subjected to needless excruciating hardship by insensitive and heartless agents and agencies of government, whose actions and inactions are really difficult to fathom and impossible to defend.

“What is the offense of the ordinary Nigerians that they have to face so much pains and tribulations without let off, even in this solemn Yuletide season?

“The President Tinubu administration must move pronto and decisively and for once get its monetary and fiscal policies right and working in the interest of the long-suffering people.

“This Naira scarcity must end now, otherwise, the TUC, its affiliates and our allies, would be forced to consider exploring our usual options whenever the working people are pushed to the wall.”