The Nigeria Labour Congress (NLC) has strongly opposed the Central Bank of Nigeria’s (CBN) introduction of a cybersecurity levy, calling for its immediate withdrawal. In a statement issued by NLC President Joe Ajaero, the organization expressed dismay over the levy’s imposition amidst challenging economic conditions.
According to the statement, the NLC condemns the CBN’s directive to levy a 0.005 percent ‘Cybersecurity Levy’ on electronic transfers, labeling it as yet another hardship on hardworking Nigerians. The circular issued by the CBN mandates banks and payment service operators to implement these deductions within the next two weeks.
While ostensibly aimed at enhancing cybersecurity measures, the NLC argues that the levy poses a threat of worsening the financial burden already borne by the populace. The move has drawn criticism for its potential to increase pressure on workers and businesses, further straining an already challenging economic landscape.
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