Cash crunch: Group backs decision by NLC to picket CBN  

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Against the backdrop of persistent naira scarcity across the country, the Muslim Media Watch Group of Nigeria (MMWGN) has aligned with the Nigerian Labour Congress (NLC) to picket the Central Bank of Nigeria (CBN). 

NLC Wednesday stated that it will picket the CBN over the naira scarcity which has been causing economic hardship in Nigeria.

Reacting to this development, the group maintained that lack of sufficient funding of commercial banks by the CBN largely caused the cash crunch.

MMWGN said it is backing NLC, because strike is the language the CBN understands to resent its action in lawful manner.

The group in a statement signed by its national coordinator, Alhaji Ibrahim  Abdullahi, Thursday described CBN action as contemptuous of Supreme Court judgment delivered on March 3. 

It stated, “The circular to banks from CBN was not released until 10 days after the judgment and even then, circular issuance was not backed-up with sufficient release cash to banks by CBN, hence the hardship on the people continued regrettably,” the group stated.

The statement reads: “On the commencement of Ramadan, the group enjoined Muslim scholars, especially those using the media to preach Islam to dwell more on enlightenment of the people on the real teachings of Islam instead of wasting precious time to greet people, praising individuals like musicians and wasting airtime on irrelevant issues.”

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