TUC accuses CBN of selling forex to moribund companies

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Trade Union Congress of Nigeria (TUC) has accused the Central Bank of Nigeria of selling foreign exchange to moribund companies through what it

In a statement signed by its President, Comrade Quadri Olaleye and Secretary General, Comrade Musa-Lawal Ozigi and made available to The Nation in Abuja, the Congress challenge the apex bank to make public the list of companies applying for forex or face legal action.

The statement reads: “the Trade Union Congress of Nigeria challenges the Central Bank of Nigeria to make public the list of companies applying for forex if its report as published in the dailies on the subject matter is anything to go by. It is disheartening to read the apex bank say it is going to reduce its forex to companies at this time. The question is, why punish functional companies?

“These fictitious companies have to be removed from the list so the active ones can manage the little forex that is available. The list has to be released by the CBN; else we may be left with no option than to go to court. “We wish our policy makers manage their private businesses same way they manage the nation’s economy! If we cannot plan to address our deficit in the shortest time possible then there is a problem.

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