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Current Cash Flow Below Expected Level – NLC

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The Nigeria Labour Congress is maintaining its ultimatum for the Central Bank of Nigeria (CBN) to provide enough cash within two weeks or face the picketing of its offices, according to a warning issued by the group.

 

The Vice-President of the Nigeria Labour Congress (NLC), Adewale Adeyanju, confirmed that the NLC is monitoring the CBN’s cash supply to commercial banks, and noted that the current flow of cash is not at the expected level.

 

However, Adeyanju acknowledged that the situation has improved compared to previous weeks.

 

Recall that the NLC had previously announced plans to picket CBN state offices nationwide over the shortage of naira notes, which has exacerbated the country’s difficulties.

 

After engaging in numerous meetings with the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC), the Central Bank of Nigeria (CBN) provided assurances that the cash crisis would be resolved.

 

As a result, organised labour suspended the planned strike and stay-at-home action scheduled to commence on March 29.

 

The Presidents of the NLC, Joe Ajaero, and the TUC, Festus Osifo, announced to journalists that the two unions would monitor the availability of cash in commercial banks for two weeks before determining the next line of action.

 

However, The punch disclosed that in a recent interview with Adewale Adeyanju, he stated that the NLC would meet to evaluate the ultimatum issued to the CBN and decide on the way forward.

 

He said, “We have given them two weeks. You know we said the two weeks is for the CBN to go and ensure that they dispense naira to all Nigerians, and it is yet to elapse. So when we meet, we are going to review it, the NLC always review its actions.

 

“If we are satisfied with the CBN cash flow, we will know what action to take. Although I think it is better than before, nobody is complaining now and that is why additional two weeks were given to CBN to review all their past activities so that money can be dispensed to Nigerians.

 

“So the threat for the strike is suspended for now until when the two weeks given to CBN elapses. If they cannot meet up and Nigerians are still agitating that the naira is not properly dispensed, congress will review its activities and get back to Nigerians.

 

“The NLC has its own way of conducting its activities. We gave them two weeks and suspended the planned strike to make sure the naira is being circulated to all Nigerians.

 

When the deadline elapses and we find out that they did not meet up to the required standard, we are going to review our ultimatum. The two weeks ultimatum is still in place,” he stated.

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NEWS

C’River: Man Takes Own Life Inside Obudu Market, Community Demands N300,000 Cleansing Fee

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A 56-year-old shoemaker identified simply as Anthony has reportedly died by suicide inside the Obudu Main Market in Obudu Local Government Area of Cross River State.

The incident occurred in the early hours of Sunday, August 23, 2026.

SEE MORE: Forced Marriage Gone Wrong — Borno Police Investigate Alleged Suicide Case

Anthony, who was said to be from Bekwarra Local Government Area, was found dead inside the market, prompting community leaders to shut down the facility.

The leaders reportedly demanded N300,000 from the deceased’s family for cleansing rites, insisting that the circumstances surrounding his death were considered sacrilegious.

Confirming the incident, the Cross River State Police Public Relations Officer, ASP Sunday Eitokpah, said the deceased was a 56-year-old man simply identified as Anthony.

Eitokpah said the police had commenced an investigation to establish the circumstances surrounding the death and determine whether foul play was involved.

He said, “Police operatives visited the scene, documented the area, and recovered the body to the mortuary. The circumstances surrounding the death are yet to be established.

“Further updates will be provided as the investigation progresses.”

The police spokesman’s statement indicates that the exact circumstances of Anthony’s death remain under investigation.

 

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NEWS

“Tinubu Deserves to Be President for Long, Long Time” — Olubadan

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The Olubadan of Ibadan, Oba Rasheed Ladoja, has said President Bola Tinubu deserves to remain in office for a long time, citing the performance of his administration.

Ladoja made the declaration on Monday at the flag-off ceremony for the dualisation of the Ibadan-Ijebu Road in Ogun State, where Tinubu was represented by Ogun State Governor, Dapo Abiodun.

The monarch said the event should not be interpreted as an All Progressives Congress, APC, rally, despite repeated references to the ruling party during the ceremony.

ALSO READ: Tinubu’s Men Bomb Atiku on Fuel Subsidy

“I’ve been hearing everybody talking APC, APC. Bola Tinubu is not an APC man, no. Bola Tinubu is working and deserves to be president for a long, long time,” Ladoja said.

According to him, the gathering was primarily organised to appreciate Tinubu for approving the road project, which he described as important to the safety and economic wellbeing of residents of Ibadan and surrounding areas.

“This is not an APC rally. It is a rally that we are here to thank Mr President for making this road project possible,” he said.

Ladoja said the road had been associated with security concerns, particularly kidnapping incidents, adding that its reconstruction would improve safety and connectivity.

“Those of us in Ibadan know that the only area in Ibadan, where terrorists have been kidnapping people is this road,” the monarch said.

He maintained that Tinubu’s decision to approve the project demonstrated his concern for the people and argued that the President’s performance should not be viewed solely through the lens of party politics.

“He deserves more than being an APC president. He’s not an APC president. He’s president of Nigeria,” Ladoja said.

The Olubadan, however, acknowledged that the President’s performance could strengthen the APC’s chances in future elections.

“The only thing I can look at is that his performance is likely to help the APC win elections. So, we are not discounting the performance of Mr President at all,” he said.

Ladoja added that opposition parties seeking to challenge the ruling party would have to convince voters that they could provide a credible alternative.

“We believe he deserves a long tenure, even though other parties are scrambling to say they are there when they are not visible,” he said.

He expressed confidence that voters in Ibadan would ultimately determine their political choice when the time comes.

“We believe that by the time election comes, the people of Ibadan land will talk,” the monarch said.

The event was attended by Minister of Works, Dave Umahi; Ogun State Deputy Governor, Noimat Salako; APC governorship candidate in Oyo State, Sharafadeen Abiodun Ali; and other dignitaries.

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NEWS

JUST IN: Midnight Fire Razes Nearly 300 Shops in Ibadan Market

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An early Monday morning fire has destroyed several shops at the popular Oranya Market in Ibadan North-East Local Government Area of Oyo State.

The fire, which reportedly started around midnight, affected traders dealing in gold, furniture, second-hand clothes and other goods.

A trader identified as Iya Alia said nearly 300 shops were affected by the inferno.

SEE ALSO: BREAKING: Court Sentences Three to Life Imprisonment Over Oyo School Kidnapping

“The fire started around midnight. I cannot be specific about that time. And those affected were gold sellers, furniture sellers, second-hand clothes sellers and many others. The shops affected were almost 300.”

Another eyewitness described the incident as devastating, saying close to 300 shops were destroyed.

Confirming the incident, the Special Adviser to Governor Seyi Makinde on Fire Reforms and State Chairman of Fire Services, Morof Akinwande, said the fire started in the middle of the market following an explosion.

He, however, said the exact number of shops destroyed could not yet be established.
“Yes, it occurred. That number we cannot ascertain, but what is known is that some shops were destroyed and the fire incident started in the middle of the market with an explosion.”

Akinwande said it was too early to determine whether the explosion was caused by gas or another source, adding that the situation had been brought under control since about 1am.

“Whether it’s a gas explosion or other things. And when you have a gas explosion, it would spread, but as I am talking to you, the situation has been under control since 1 am.”

He explained that determining the number of affected shops and the value of goods lost would require a post-fire investigation.

“On the number of shops and inventory, that is too early because that’s post-fire outbreak investigation. So, I cannot be accurate about the number of shops that were destroyed. But shops were actually gone.”

The incident comes barely two days after another fire outbreak destroyed nine locked-up shops at the Nigerian Railway shopping complex along the popular Aleshinloye Market in Ibadan South-West Local Government Area.

The August 22 fire reportedly destroyed goods, household items and other properties worth millions of naira.

One of the affected traders, Busari Olayemi, said products worth about ₦21 million were destroyed, including window blinds, curtain fabrics, industrial sewing machines and other equipment.

Oranya Market also witnessed a major fire outbreak in 2024, when more than 200 shops in the herbal section were reportedly completely destroyed.

 

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