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Cash crunch: NLC suspends planned strike, gives CBN 2wks to normalise supply

National

Cash crunch: NLC suspends planned strike, gives CBN 2wks to normalise supply

By magic

March 29, 2023

The Nigeria Labour Congress, NLC, has suspended its planned nationwide indefinite strike and picketing of Central Bank of Nigeria, CBN, offices across the country over the scarcity of naira notes.

It had planned to begin the nationwide sit-at-home indefinite strike from today (Wednesday, March 29) and picketing of CBN headquarters and its state offices across the country over the cash crunch that had brought untold hardships to Nigerians and businesses.

At the end of its National Executive Council, NEC, meeting yesterday, leaders of NLC, however, gave the CBN two weeks to normalise the money supply nationwide, especially in the rural areas.

NLC in a resolution  disclosed that the NEC-in-session after extensive discussions, reviewed the undercurrents of the current cash crunch across the length and breadth of Nigeria.