The Nigeria Labour Congress has lamented the devastating impact of the forex crisis on the economy and demanded urgent stabilization of naira.
The NLC President, Joe Ajaero, who said this in a statement on Sunday, blamed government officials’ love for foreign luxury products for the free fall of the national currency, warning that the economy was at risk of a wave of devastating consequences if the naira failed to stabilize against the American dollar.
The NLC president’s warning came ahead of the organised labour and the Federal Government’s meeting scheduled to hold on Monday to review the implementation of the Memorandum of Understanding they signed on subsidy removal palliatives.
Ajaero further said repercussions of the weakened currency would be felt by workers and the masses.
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