Wednesday, September 5, 2012
NLC threatens to demand wage increase over proposed N5000 note
Nigeria's labour union,say they would demand for wage increase if the federal government insists on introducing the 5,000 denomination note into the nation’s currency. The Nigeria Labour Congress (NLC)'s president President of the congress, Abdulwaheed Omar, said this in Abuja.
The president, said that the the high denomination will negatively affect the purchasing power of ordinary workers.
"Introducing the proposed N5,000 note will ultimately result in currency devaluation, leading to inflation and more hardship for Nigerians.