The Nigerian Labour Congress and the Trade Union Congress have shelved their planned nationwide strike.
Organised Labour in Nigeria has given the Central Bank of Nigeria two more weeks to make cash available to the citizens.
The leadership of the Nigeria Labour Congress and the Trade Union Congress made the declaration at a joint news conference in Abuja.
The two organisations acknowledged marked improvements in the disbursement of cash across money deposit banks but say more still need to be done.
The Nigeria Labour Congress had issued a one week ultimatum to the Central Bank of Nigeria to make naira notes available or its members would picket the bank’s offices nationwide.
NLC also indicated its members would stay at home across the country as a way of protesting the hardship being faced over cash crunch.
The Minister of Labour and Employment, Chris Ngige, had intervened on Monday as it brokered a truce between Labour and the CBN.
LAGOS LAWYER SEEKS TO INITIATE COTEMPT PROCEEDINGS AGAINST EMEFIELE
A Lagos-based activist-lawyer, Tope Alabi, has approached the Federal High Court in Lagos for leave to initiate contempt proceedings against the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, over an alleged disobedience of the Supreme Court orders on its naira redesign policy.
Mr Alabi made the application via a March 27 ex parte motion in Suit FHC/L/CS/526/23 with Mr Emefiele as the sole respondent.
Describing the naira swap as a “cash confiscation policy”, he said it had affected the day-to-day running of his office as his staff could not make it to work daily due to the non-availability of physical cash, adding that commercial drivers “do not have point of sale (POS) device/machine to collect fares.”
The lawyer filed a 28-page affidavit in support of his application wherein he claimed that the Supreme Court on March 10, in Suit No. SC. 162/2023, “directed Emefiele to make available and allow the old naira notes of N200, N500 and N1000 to co-exist as legal tender with the new N200, N500 and N1000 notes till December 2023.”
“The respondent who had withdrawn N200, N500 and 1000 old notes from circulation on 10 February 2023 has refused to comply with the Order of the Supreme Court made on 10 March 2023 till date by releasing the old notes to circulation.”
Mr Alabi added that the CBN’s alleged non-compliance with the Supreme Court Order “has affected my job as a legal practitioner as I could not have access to daily physical cash to carry out my job and meet little daily expenses.
“That I brought this application to seek leave to enforce the Supreme Court Order being a non-party to the suit at the Supreme Court..”
No date has been fixed for the hearing.