Naira swap: A Labour leader warns lawmakers to keep the public out of the "class struggle"

Comrade Joe Ajaero, the president of the Nigeria Labour Congress (NLC), has referred to the current naira exchange as a class battle that shouldn’t have included the poor masses fighting to subsist under the burden of an N30,000 minimum salary.

This information was made public during the commissioning of the union’s newly built secretariat in Lokoja, Kogi State. Ajaero, who was represented by General Secretary, Comrade Emmanuel Ogwaja, berated the ruling class for enlisting poor workers in the race to outdo each other, under the pretense of currency redesign.

No employee, in his view, possesses surplus cash outside of the financial system. While he wouldn’t want to participate in debates about the policy, he claimed that people who created it are aware of those who have hidden money in secret safes. “Workers who are burdened by the inadequate income, who are unable to put quality food on their tables, would have the luxury of stashing away money?” he said. The fight between classes is the core of the naira swap. Workers shouldn’t be included in the conflict because they are not a part of it.

“If the policymakers are honest, they should beam their searchlight on economic saboteurs, instead of heaping immeasurable pain on innocent workers and the people.”

We won’t participate in the Supreme Court ruling, he continued. Those who can afford it are the ones who go to court. The workers’ mandate is untouchable. And when it’s appropriate, workers will be given the benefit of the doubt. As the expression goes, “Many days are for the thief, but only one day is for the owner.”

President Muhammadu Buhari and Central Bank of Nigeria Governor, Godwin Emefiele have been accused of deserting citizens on the naira redesign strategy.

Also, it was demanded that the President step down right away “to prevent the imminent economic collapse of Nigeria under his watch.” Four days after the Supreme Court declared that the old N200, N500, and N1,000 notes remain legal tender until December 31, 2023, it is unfortunate and disheartening that Buhari and Emefiele have remained mute.

In conclusion, it was claimed that Nigerians are confused as a result of the President and the CBN governor. As a result, the nation is operating on autopilot, and commercial banks are unsure of whether to abide by the Supreme Court’s ruling or the President’s announcement that the old N200 and N500 notes will cease to be legal money on April 10th, 2023, respectively.

Source: Punch