The Nigeria Labour Congress (NLC) has opposed the Central Bank of Nigeria’s (CBN) recent directive imposing a 0.5 per cent cybersecurity levy on electronic transfers.
According to NLC President Joe Ajaero, the levy represents an additional financial burden on Nigerians, who are already struggling with economic hardship.
Ajaero described the levy as “another tax too many” and accused the ruling elite of exploiting workers and the masses through extortionate measures.
He argued that the CBN’s move, purportedly aimed at enhancing cybersecurity, would only worsen the financial strain on the populace.
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The NLC President stressed that while cybersecurity is crucial in today’s digital age, imposing such a levy without considering its impact on workers and vulnerable segments of society is unjustifiable.
According to him, the exemption of interbank transfers and loan transactions from the levy does not mitigate its broader impact on everyday transactions.
Ajaero also pointed out that the stifling socioeconomic environment has already led to the closure of domestic manufacturers and businesses, and that the government should prioritize policies that alleviate financial burdens rather than imposing additional ones.
He called for a collaborative approach between the government, regulatory bodies, and stakeholders to develop sustainable cybersecurity measures that do not unduly burden the populace.
The NLC reiterated its commitment to championing the rights and welfare of Nigerian workers and masses, and urged the federal government to reconsider the directives and prioritize policies that promote economic relief and sustainable development.
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