The Nigeria Labour Congress and the Trade Union Congress have suspended their planned strike earlier slated for Wednesday over the scarcity of naira notes.
The two Labour centres said they would monitor the availability of cash in commercial banks for two weeks before deciding on the next line of action.
Recall that the labour unions had threatened to embark on a nationwide from Wednesday, March 29, 2023 if issues like the cash crunch, fuel scarcity and electricity tariff increase are not addressed by the government.
Presidents of NLC, Joe Ajaero and TUC, Festus Osifo announced the suspension during a joint press conference on Tuesday in Abuja at the end of their National Executive Council meetings.
Ajaero said the NLC would resume the planned protest if naira notes become unavailable to Nigerians by the end of two weeks.
He said after receiving briefings from its state councils in the 36 states and the Federal Capital Territory, the NLC decided to defer the planned stay-at-home directive issued to workers last week.
The NLC president said a committee has been set up to monitor situations in banks and report to it at the end of the two weeks extension.
It is however not clear whether a meeting summoned by the Minister of Labour and Employment, Chris Ngige on Monday, between the leadership of the NLC and CBN prompted the decision to extend the ultimatum for an additional two weeks.
At the meeting, Emefiele said steps have been taken to alleviate the sufferings of the masses in relation to the the naira crunch in the country.
Ajaero while addressing the press admitted that the cash crunch situation had improved considerably but that they need to monitor the complaint of cash disbursement through the commercial banks for two more weeks.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.