The Governor of Central Bank of Nigeria ( CBN) Godwin Emefiele and organized labour have been encouraged to engage on social dialogue on the controversial cashless policy to avoid unnecessary disruption of the central banking activities in the country.
Comrade Issa Aremu, the Director General of MINILS gave the advise on Thursday in Ilorin .
Speaking at the 40th Prayer Anniversary of the founding of the Institute, comrade Aremu observed that it was time to rethink the Naira redesign policy given the hardships encountered by small depositors as a result of persistent prevailing incidence of network failures which CBN has acknowledged. He said it was inevitable that NLC would rise to speak for members workers who daily could not access money for subsistence.
Aremu however said picketing was avoidable if CBN engages Labour with assurance of policy efficiency. Comrade Aremu said political democracy must be complimented with economic democracy.
“CBN has the responsibility to show the stakeholders including organized labour the Naira redesign is meant to improve public welfare not deepening income poverty”.
Aremu said labour has always had enthusiastic support for CBN development financing measures but regretted that the current cash crunch had engendered crisis of confidence in monetary and financial policy.
Earlier, the Director General said the special interfaith prayers attended by management and staff of the Institute was all about appreciation to Almighty God that MINILS had come of age as the regional Centre of Excellence in Labour education in Africa. He recalled that President Shehu Shagari formally commissioned MINILS in 1983 as part of the 3rd National Development Plan.
Aremu commended President Buhari in repositioning MINILS through the support of the two Ministers of Labour namely Mr Festus Kyamo and Dr Chris Ngige.
“
