Home National Naira scarcity: TUC begs protesters to stop attack on bank staff

Naira scarcity: TUC begs protesters to stop attack on bank staff

TUC- LagosPost.ng
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The Trade Union Congress of Nigeria, TUC has appealed to Nigerians to stop the attack on bank staff as they are not the cause of the naira scarcity.

This is contained in a press release signed Tuesday by the TUC National President, Comrade Festus Osifo, and Secretary, Nuhu Toro.

The statement reads in part: “It is harrowing for millions of our fellow countrymen and women to stand in long queues for hours at banks and Automated Teller Machines, ATMs in their effort to retrieve their legitimate funds from the banks.

“Our hearts go out to ordinary Nigerians and their families who are forced to undergo hardship including the inability to buy food, basic medicines or pay for transportation because their monies are hanging in the banking system.

“It is also understandable that in some cases, the patience of people is worn so thin that they have resorted to protests and publicly demonstrating their feelings and frustrations.

“However, some of these protests are wrongly directed at bank workers and other staff of financial institutions. The TUC states publicly before our fellow compatriots that bank and financial institution employees had no input whatsoever in the naira redesign policy nor were they consulted. They also have no hand whatsoever in the printing of the new naira notes nor are they responsible for the release of the new currencies by the Central Bank of Nigeria, CBN, the bank workers themselves do not have this cash.

“The Bank and Financial Institution Employees at junior and senior staff levels are mere workers who distribute only currencies made available to the various banks by the regulatory agencies.

“Even the CBN which initially claimed that banks were hoarding the new currencies has admitted that it has been unable to provide the new notes in sufficient quantities to meet public needs. Unfortunately, the initial dummy sold to the public that the banks were hoarding the new banknotes, was bought by some members of the public who have come to see the banks, bank staff, and even ATMs as legitimate targets of attack.”

TUC appealed that the misdirected anger should stop.

It added: “Our fellow compatriots should realize that bank staff are like other Nigerians, victims of the poor implementation of the new currency design policy.

“They suffer like other Nigerians as they also have families to cater for and personal financial needs to meet. There are some allegations of a handful of bank staff withholding the new currency notes; if this were proven, we would not oppose the law taking its course. This, however, can be no basis to find all bank workers guilty.

“We assure members of the public that the TUC, to which the Senior Staff of Banks, Insurance and Financial Institutions ASSBIFI belong, is doing everything in its power to find a solution to this financial crisis. It is also ready for peaceful solidarity actions with other Nigerians in collaboration with market associations, youth and student groups, professional associations, and civil society organizations. We are willing to participate in exerting pressure on the various governments and financial regulators to return the country to normalcy.

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