Mr Issa Aremu, the Director-General, Michael Imoudu National Institute of Labour Studies (MINILS), Ilorin, has advised the Central Bank of Nigeria (CBN) to engage the Nigeria Labour Congress (NLC) in social dialogue to avert picketing over cash scarcity caused by naira redesign.

Aremu made the call on Thursday in Ilorin, on the sidelines of the Interfaith Prayer organised to mark the 40th Year Anniversary of the institute.

According to him, it is unprecedented that labour union is threatening to picket the CBN.

He said CBN should use every means at its disposal to ensure monetary stability in the country.

The director-general, who was once a labour leader, noted that depositors had been subjected to a lot of hardship in recent time over the CBN financial policy.

Aremu said that CBN must be more transparent, engaging and look at the overall policies impact on the growth and development of the nation's economy.

He said that this would ensure confidence of Nigerians in the banking system. Aremu explained that such cashless policy should be gradually introduced after the appropriate infrastructure had been put in place.

“It also requires mass sensitisation and awareness and there is a limited time for implementation of the policy for Nigerians,” he said.

The institute director-general lauded the CBN's Anchor Borrowers Programme, which he said, “provides loans (in kind and cash) to small holder farmers, which had boost agricultural production, especially rice”.

He, therefore, insisted that picketing of the apex bank by labour leaders was avoidable and preventable, advising CBN to address all concern by organised labour.

On the 40th anniversary of the institute, Aremu thanked the Almighty God for sustaining MINILS and the progress recorded so far.

“This gathering is all about appreciation to Almighty God in the Holy Month of Ramadan, in which Catholic lent also runs. Both Christianity and Islam stress gratitude. Gratitude pleases Allah, while ingratitude displeases Him.

“Glory to Almighty for sparing our lives to continue the institutional building that started with President Shehu Shagari's formal inauguration in 1983,” he said.

Aremu said that many institutions at 40 were moribund due to irrelevance. In his exhortation, Prof. Abdullateef Oladimeji, the immediate past Deputy Vice- Chancellor of Al-Hikmah University, Ilorin, said that the institute has every cause to praise God in view of the successes recorded.

Oladimeji, therefore, underscored the many achievements recorded by the institute, saying that they had impacted on the development of the nation.

Also, Prophet Michael Adio, the Head of CAC Alabukun, Ilorin and Sheikh Sadiq Kasan Dubu, both urged Nigerians to always pray for the country, adding that prayers could change situation to better one.

(NAN)