The Trade Union Congress (TUC) has issued a warning to the Nigerian government over the recently introduced cybersecurity levy by the Central Bank of Nigeria (CBN). The TUC threatened to begin a nationwide protest that could shutdown the economy if the levy is not revoked......Read The Full Article>>.....Read The Full Article>>
In a statement released by TUC President Festus Osifo, the organization criticized the CBN’s directive imposing a 0.5 percent cybersecurity levy on electronic transactions, labeling it as burdensome for Nigerians already grappling with economic challenges.
The outcry against the levy has been widespread, with the Nigeria Labour Congress (NLC) also condemning it as another financial strain on citizens.
The TUC expressed disbelief at the timing of the levy, coinciding with a period of high living costs exacerbated by currency devaluation, petrol price hikes, and electricity tariff increases.
Highlighting the burden of multiple taxes on Nigerian account holders, the TUC accused both the government and banks of exploiting citizens.
Blaming the National Assembly for complicity, the TUC accused some elements within the executive of collaborating to the detriment of the populace.
“We call on the federal government to give a marching order to the Central Bank of Nigeria to immediately withdraw the circular and cancel the planned levy forthwith; failure of which we will be left with no option but to mobilize all our members, stakeholders and indeed the entire masses to embark on the immediate protest that would culminate into the total shutdown of the Nigerian economy as this is one exploitation too many.
Enough is enough; Nigerians must breathe! These extortions must stop“, the statement read in part.
