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FOREX: Labour warns on IMF induced policies

by Kunle Awosiyan

The Organised Labour has warned that a dollar will soon exchange for N600, if the Nigeria Government continues to submit to the International Monetary Fund (IMF) and World Bank induced policies that would further distort and repress the naira

They describe the present exchange rate of N450 to a dollar as a criminal conspiracy against the Nigerian people; it warned that no meaningful development can take place under this outrageous exchange rate regime.

Speaking during the Quadrennial Delegates Conference of the Association of Senior Civil Servants of Nigeria in Abuja, the President of ASCSN and former President of the Trade Union Congress (TUC), Comrade Bobboi Kaigama, the President of Nigeria Labour Congress (NLC), Comrade Ayuba Wabba,, warned that Nigeria Government should be wary of neo-liberal institutions, the IMF and the World Bank

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