N5000: NLC THREATENS TO DEMAND WAGE INCREASE

The Nigeria Labour Congress (NLC), has threatened to demand for an increase in wages for workers if the federal government insists on introducing the 5,000 denomination note into the nation’s currency.
President of the congress, Abdulwaheed Omar, who issued the warning in Abuja, said labour will be left with no choice than to ask for higher wages, because the higher denomination will negatively affect the purchasing power of ordinary workers.
According to him, introducing the proposed  N5,000 note will ultimately result in currency devaluation, leading to inflation and more hardship for Nigerians.