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Tue, Sep 5, 2023 8:35 PM

Commercial Banks in Lagos Defy NLC Strike Call

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Commercial Banks in Lagos Defy NLC Strike Call
Despite the call by the Nigeria Labour Congress (NLC) for a nationwide two-day strike, several commercial banks in Lagos, including Access Bank, First Bank, Guaranty Trust Bank (GTB), Zenith Bank, and Sterling Bank, continued their operations. The strike was organized to protest the removal of fuel subsidy, citing increasing hardship and suffering. Despite the rainy weather, markets and transport services were also in operation.

Lagos, Sept. 5, 2023 (NAN) - Some commercial banks in Lagos, including Access Bank, First Bank, Guaranty Trust Bank (GTB), Zenith Bank, and Sterling Bank, defied the call by the Nigeria Labour Congress (NLC) for a two-day nationwide strike. The NLC organized the strike to protest the removal of fuel subsidy, which has led to increasing hardship and suffering among the populace.

In several areas of Lagos visited by NAN correspondents, such as Ikorodu, Anthony, Maryland, Ojuelegba, and Iponri, the banks were open, with customers conducting their transactions as usual. This move by the banks indicates a divergence from the NLC's position and highlights the complexity surrounding the fuel subsidy issue.

Despite heavy rainfall, economic activities were evident at popular Lagos markets, including Mile 12 Market, Ketu Market, and Oyingbo Market. Traders and buyers were actively engaged, further underlining the continued functioning of the Nigerian economy in the face of the strike.

The National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE), through its circular dated Sept. 2, urged all union organs to comply with the NLC strike in order to draw the government's attention to the citizens' plight. However, the response from the commercial banks suggests that some segments of society believe alternative means of addressing the fuel subsidy issue should be explored.

The ongoing strike poses significant challenges to Nigeria's economy, as it disrupts various sectors, including transportation, manufacturing, and public services. While the NLC seeks to highlight the adverse effects of the fuel subsidy removal, the stance of the commercial banks in Lagos may indicate a divided sentiment within the nation regarding this contentious issue.

In the coming days, it will be crucial to observe how the government responds to the NLC's demands and the reactions of other stakeholders, including labor unions, the private sector, and citizens affected by the subsidy withdrawal. The fuel subsidy issue is a complex one, requiring careful consideration and effective dialogue between all parties involved.

As the strike continues, the impacts on daily life, business operations, and overall stability will become more apparent. The resilience of the Nigerian people during difficult times has been tested before, and this current situation will undoubtedly contribute to the nation's ongoing dialogue on economic policy and social welfare.

The issue of fuel subsidy removal strikes at the core of Nigeria's economic and social stability. As debates continue on how best to address this issue and find viable alternatives, the role of different institutions, including commercial banks, will be closely scrutinized.

It remains to be seen whether the NLC, government, and other stakeholders can find common ground on this contentious matter. Only through open and constructive dialogue can sustainable solutions be achieved, ensuring a fair and equitable environment for all Nigerians.

In conclusion, the decision by commercial banks in Lagos to defy the NLC's strike call highlights the divergent opinions within society regarding the removal of fuel subsidy. As the strike continues, it is imperative that all stakeholders engage in meaningful discussions to find a way forward that considers the welfare of the people and the overall stability of the country.

Source of content: OOO News 2023-09-05 News

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