The Nigeria Labour Congress (NLC) expresses concern over prolonged cash scarcity, warning of potential mass protests if not addressed.
With just five days to Christmas, citizens face difficulties accessing cash for daily needs, despite Central Bank assurances.
The NLC condemns the situation, linking it to the government’s anti-corruption efforts. It emphasizes citizens spending more time in banks, undermining public confidence and causing economic challenges.
The NLC demands urgent action to alleviate the cash crunch and urges transparent communication from the Central Bank to reassure the public.
Banks in South-West states reportedly source cash from northern branches, exacerbating the problem.
Despite CBN claims of sufficient cash distribution, many banks struggle to meet customer needs, leading to reduced withdrawal limits and reliance on branches in other regions.
Concerns rise over citizens hoarding cash, posing challenges for the already strained economy.
The NLC calls for immediate measures to address the crisis and maintain financial stability during the festive season.
