Kwara NLC Laments Cash Crunch

The Nigeria Labour Congress (NLC), in Kwara State has lamented the scarcity of new naira notes.

The NLC noted that the unavailability of the new naira notes posed threat to the standard of living of the people and the nation’s economy.

The state chairman of NLC, Comrade Issa Ore, who stated this during an interview with LEADERSHIP in Ilorin, added that “the new notes are neither in the commercial banks nor Bureau De Change nor the market.”

He said the burden of hardship, which the scarcity of the new naira notes precipitated, is on the Nigeria workers.

Ore called on the federal and state governments to address the unavailability of cash in the interest of the workers and poor masses in general.

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He urged Governor AbdulRahman AbdulRazaq to liaise with the Ilorin branch of Central Bank of Nigeria (CBN) to address the acute shortage in the distribution of the new naira notes in the state.

LEADERSHIP Friday observed that customers have continued to lament the scarcity of the new naira notes despite spending several hours at the Automated Teller Machines (ATMs) of commercial banks in their bid to withdraw cash

The NLC chairman said, “We are constrained by the acute shortage of new currency notes in the country, which is caused by the Naira Redesign Policy of the apex bank.

“The currency notes are neither in the commercial banks nor Bureau De Change or the market.

“The social economic implication of nonavailability of the Naira in the market is a threat to the standard of living of the people of Nigeria and the nation’s economy.”

The burden of the hardship caused by unavailability of the new naira notes is on the Nigeria workers.

“The leadership of Nigeria Labour Congress hereby express disgust over the non availability of the new naira notes and urged both the federal and state governments to address the shortage in the interest of the workers and poor masses in general.”