THE Trade Union Congress, TUC, of Nigeria, presidential candidate of the Labour Party in the 2023 elections, Mr Peter Obi, and the Coalition of Northern Group, CNG, have condemned the cybersecurity levy introduced by the Central Bank of Nigeria, CBN.

While TUC described the levy expected to take effect within two weeks from May 6, as a vexatious extortion of the masses that should not be allowed to stand, Obi saw the new levy as one tax too many.

Similarly, the Coalition of Northern Groups, CNG, outrightly rejected the proposed levy, saying it would worsen the already bad economic situation of Nigerians.

The TUC, which also took a swipe at President Bola Tinubu’s administration for policies that had brought pain, anguish and sorrow to Nigerians, gave the federal government an ultimatum to give marching orders to the CBN to immediately withdraw the circular and cancel the planned levy.

The labour movement threatened that if the planned implementation of the 0.5 per cent cybersecurity levy was not cancelled, it have no other option than to mobilize all its members, stakeholders and the entire masses to embark on the immediate protest that would culminate in a total shutdown of the nation’s economy.

In a statement signed yesterday by the President, Comrade Festus Osifo, the TUC alleged that so many policies of the government were not only imposing hardship on downtrodden Nigerians but also businesses, as some of them were shutting down because of the unfriendly business environment.

The statement entitled, “Cybersecurity Levy: This Extortion is Vexatious and will not stand,” read: “The Trade Union Congress of Nigeria, TUC, has received with rude shock the recent directive by the Central Bank of Nigeria, CBN, in a circular to banks imposing a 0.5 per cent cybersecurity levy on almost all electronic transactions.

“It is, indeed, illogical that this is coming at a time Nigerians are grappling with the high cost of living that is imposed by the devaluation of the naira, hyper hike in the cost of petrol, supersonic increment in the cost of electricity tariff, etc.

May 9, 2024

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