NLC PLEASED WITH CASH FLOW, SEEKS TO RESOLVE PENDING ISSUES IN TWO WEEKS

March 31, 2023March 31, 2023

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The Nigeria Labour Congess (NLC) has expressed satisfaction with measures made to increase cash flow throughout the nation, following the nationwide scarcity spurred on by the Central Bank of Nigeria’s currency swap and naira redesign policies.

This was made known by the NLC President Joe Ajaero during his appearance on Channels Television’s Sunrise Daily on Friday.

“As far as our members are concerned nationwide, they are satisfied with minimum doubt which we want to clear within the next two weeks,” Ajaero stated.

“[All the] banks are not [performing] the same; some of the banks are doing relatively better than others. So, we want to monitor the activities of some banks who I may not want to mention here, so that I don’t demarket them.”

The CBN last week directed all commercial banks to open for operation on Saturdays and Sundays, adding that banknotes had been evacuated from its vaults to commercial banks across the country.

According to the apex bank, the directive was part of a coordinated effort to ease the circulation of banknotes of various denominations with a substantial amount of money, in various denominations, having been received by the commercial banks for onward circulation to their respective customers.