Nigeria’s Labour Minister Resolves Threat of CBN Shutdown Over Naira Scarcity and Addresses Pay Raise Issue

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Nigeria's Labour Minister Resolves Threat of CBN Shutdown Over Naira Scarcity and Addresses Pay Raise Issue

On Tuesday, Senator Chris Ngige, Nigeria’s Minister of Labour and Employment, provided assurances that the Nigeria Labour Congress’s (NLC) threat to shut down all branches of the Central Bank of Nigeria (CBN) due to the scarcity of the naira has been resolved. The Minister also confirmed that the issue of pay raises for employees is being addressed, and the focus now is on the quantum of the pay raise.

The NLC had instructed all its branches to prepare for a protest at all CBN branches throughout the country due to the shortage of the naira, which has caused considerable suffering to citizens.

However, in a bid to prevent the strike, the CBN delegation, led by Governor Godwin Emefiele, and the NLC leadership, led by President Comrade Joe Ajaeo, held a meeting with the Minister on Monday evening.

Appearing on the weekly Ministerial Briefing, organised by the Presidential Communication Team at the State House in Abuja, the Minister of Labour and Employment disclosed that his ministry had facilitated dialogues, and the CBN had taken measures to address the situation.

The Minister said that the NLC’s National Executive Council meeting would no longer address issues of protest since these have been addressed. “Now they have all answered our calls because we are the Chief Conciliators,” he said. “We have emphasised to them that we have apprehended this dispute.”

According to the Minister, the issue now being discussed is the implementation of pay raises and how it impacts Nigerian workers and the general public. The final decision will be made by the NLC’s NEC on Tuesday, the 28th, and a resolution will be issued to inform the Minister and the CBN of their decision.

Regarding the migration of Nigerian professionals to other countries, Senator Ngige stated that nobody would prevent migration. He remarked that migration from one continent to another is common, and he is not opposed to it.

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