The Trade Union Congress has called on the Federal Government, as a matter of urgency, to put an end to the present crisis bedeviling Nigerians as a result of the redesign of some denominations in the nation’s currency, that has brought about the non circulation of naira notes in the country.
Briefing Journalists in Abuja, on the State of the nation, the President of TUC, Comrade Festus Osifo, who described the present situation, as the worst of times in the lives of Nigerians, said citizens have not only been betrayed by the banking system which has been unable to pay them their money on demand, but have also been failed but the Federal Government in its inadequacy in the entire process.
“These for Nigerians, are some of the worst of times in their lives as many are on the brink of financial collapse, not because they have entrusted such monies to the banks under the supervision of the Central Bank of Nigeria, CBN.”
He said ” As you are aware, the Nigerian populace is unable to pay for basic needs including food, medicines, clothes or transportation. This is nothing but a calamity of epic proportions. We have never had it so bad, never have our populace been made to attack banks, strip in banking halls or threaten to commit suicide inside financial houses because they cannot have access to their hard earned money. We are worried and wish to note that smaller denominations of N100 naira notes and N50 notes were not affected by the naira redesign, but paradoxically not in circulation anywhere in the country”.
On the lingering long queues at fuel stations,
he said ” the lengthy explanations on why there are long queues at fuel stations and prices of PMS being far above the official price can no longer be tolerated. All we demand is that patrol returns to fuel stations and is available at the official price across the country. As we have often stated, the answer to the fuel shortage question, i the local refining of our petroleum product needs. Local refining would add value to our crude oil, provide local jobs, and not only save us foreign exchange, but would enable us earn far more income”
He stated that, ” In furtherance of this and should these issues not resolve in the coming days, the TUC and its comrades in the labor and social movements would begin consultations with various groups in the country to work out democratic, constitutional and legal ways and means to save the populace and our beloved country”.