TUC Demands Immediate Reversal of ‘Exploitative’ Cybersecurity Levy

The Trade Union Congress (TUC) has issued a stern warning to the Nigerian government, demanding the reversal of the recently introduced cybersecurity levy by the Central Bank of Nigeria (CBN).

The TUC threatened to embark on a nationwide protest that could bring the economy to a standstill if the levy is not revoked.

In a statement, TUC President Festus Osifo criticized the CBN’s directive, which imposes a 0.5 per cent cybersecurity levy on electronic transactions, as an additional burden on Nigerians already struggling with economic hardships.

READ ALSO: NLC Opposes 0.5% Cybersecurity Levy By CBN

The TUC’s stance is echoed by the Nigeria Labour Congress (NLC), which had also condemned the levy as a further financial strain on citizens.

According to the TUC, the timing of the levy, which coincides with a period of high living costs, exacerbated by currency devaluation, fuel price hikes, and electricity tariff increases.

The organization accused the government and banks of exploiting citizens through multiple taxes, and blamed the National Assembly for complicity in the matter.