The Nigeria Labour Congress has said the planned introduction of the N5,000 note by the Central Bank of Nigeria was another attempt to devaluate the naira.
The union also called for the democratisation of the process for the appointment of the CBN governor.
The Vice President of the NLC, Comrade Issa Aremu, who spoke with newsmen in Ilorin, the Kwara State capital, on Monday, said: “Sanusi does not know you cannot win argument without winning the heart of the people.
“He is winning the argument without convincing the people.
“He must learn to manage reform, but short therapy approach to reform is unhelpful.
“CBN has a right and autonomy to manage the country’s monetary policy, but there is a disconnect between the exercise of the autonomy and the broad wishes of Nigerian people.
“The introduction of N5, 000 note is the least resistant monetary policy, it is not bold. The policy is aimed at ensuring the devaluation of naira. When actually the bold policy of the CBN is to make sure that the value of the naira is strengthened rather allow its free fall. Naira has devalued more under Lamido Sanusi.
“With the benefit of hindsight, the attempt by Prof. Charles Soludo to re-denominate the naira was better compare to this lazy way approach.
“Sanusi has done very well is some areas, but the reforms are too crowded.”