The Nigeria Labour Congress (NLC) has vehemently rejected the recent directive by the Central Bank of Nigeria (CBN) to impose a 0.5% Cybersecurity Levy on electronic transfers. NLC President Mr. Joe Ajaero stated the union’s position, calling for the immediate stoppage and reversal of the policy.
The NLC condemned the directive, emphasizing that it would exacerbate the financial strain already faced by Nigerians. While acknowledging the importance of cybersecurity, the NLC deemed the levy unjustifiable, citing its burden on hardworking Nigerians and vulnerable segments of society.
Ajaero criticized the levy as “another tax too much” for Nigerians, accusing the ruling elite of exploiting workers and the masses. Despite exemptions for certain transactions, the NLC highlighted the broader impact on everyday transactions, affecting workers’ disposable income and purchasing power.
Source: Channels TV