A new national labour movement called United Labour
Congress of Nigeria has been formed by 25 industrial
unions from the Nigeria Labour Congress and the Trade
Union Congress of Nigeria on Saturday.
The ULC elected 13 executives to drive its mandate in
which the General Secretary of the National Union of
Electricity Employees, Joseph Ajaero, emerged as its
National President.
In addition, Igwe Achese of Nigeria Union of Petroleum
and Natural Gas Workers, became its Deputy President;
K. Kadiri became its National Vice President while Onyeka
Chris emerged as its acting General Secretary.
In a communiqué issued at the end of its inaugural
delegates’ conference, the congress said there was an
urgent need for a rebirth of the organised labour in order
to recreate a movement capable of fulfilling its potential
to Nigerian workers, masses and Nigeria.
Members of the union pledged to restore hope to
Nigerian workers who were being victimised, and
neglected, adding that it would defend the rights of
oppressed Nigerians in a bid to make governance more
effective and responsive.
They observed that the existing labour unions had been
compromised by forces that did not have its interest, that
of Nigerians at heart, saying that there was need for a
refining and strengthening of trade unionism.
CBN MOVES TO END BLACK MARKET IN FOREIGN EXCHANGE MARKET
Central Bank of Nigeria’s (CBN) governor Godwin Emefiele. / AFP PHOTO / PHILIP OJISUA The Central Bank of Nigeria will move to eliminate the foreign exchange black market in Africa’s biggest economy, the country’s finance minister said on Tuesday. The naira trades, sometimes 40% below the official rates, against the dollar. Adeosun said the CBN has been mandated to scrap the damaging market. The central bank (CBN) “has been directed to do this and CBN has promised to do something by putting a system in place to eliminate the black market because it’s damaging the economy”, Adeosun told a conference. A CBN spokesman, Isaac Okorafor, said the central bank was working towards “ensuring that the forex market operates as effectively as we would envisage”. He said the aim was to “ensure there is no black market” but did not give details of how this would be achieved. Nigeria had pegged the naira to the dollar at 197-199 since March 2015 but the CBN scrapped the 16-month-old peg in June in ...
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