THE Trade Union Congress of Nigeria (TUC) has called for calm from Nigerians over the hardship they are experiencing from the currency redesign policy of the Central Bank of Nigeria (CBN).
In a statement issued by the TUC president, Festus Osifo, and its general secretary, Nuhu Toro, dated February 19, the union condemned attacks by protesters on banks in states like Lagos, Ogun, Oyo, and Edo as a result of the cash crunch arising from the redesign policy.
The body appealed to the protesters to stop attacking banks, saying bankers could not be held responsible for the gaps in the policy implementation.
“Our hearts go out to ordinary Nigerians and their families who are forced to undergo hardship, including inability to buy food and 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 statement said.
The union stated that bank and financial institution employees at junior and senior staff levels were mere workers distributing currencies made available to the various banks by the regulatory agencies.
The statement further read, “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 bank notes 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.
“Congress appeals that this misdirected anger should stop. Our fellow compatriots should realise that bank staff are like other Nigerians, victims of the poor implementation of the new currency design policy.”
The union stressed its commitment to finding a lasting solution to the current crisis, and expressed its readiness for peaceful solidarity actions with other Nigerians in collaboration with market associations, youth and student groups, professional associations and civil society organisations.
The body also warned the Muhammadu Buhari administration against use of maximum force on protesters, declaring the government had no right to use maximum force on Nigerians peacefully demonstrating against the failure of government to produce depositors’ money on demand.
It said, “The use of live bullets against defenceless Nigerians as the first line of response is criminal. TUC can compile evidence of such atrocities and seek to bring them to justice if not in Nigeria, then outside the country.
“Congress does not in any way encourage miscreants and those destroying public/private infrastructures, looting the valuables of innocent Nigerians and shops under the guise of protest. If caught and investigated, they should be made to face the law.”
The union appealed to the Nigerian masses to rein in their provocation, and where they choose to publicly demonstrate their feelings, “which is their human right”, to do so peacefully.
Harrison Edeh is a journalist with the International Centre for Investigative Reporting, always determined to drive advocacy for good governance through holding public officials and businesses accountable.