Cybersecurity levy will worsen hardship – Labour

Nigeria Labour Congress, Trade Union Congress and bank customers have opposed the newly introduced cybersecurity levy by the Central Bank of Nigeria, demanding its immediate withdrawal.

The NLC on Tuesday in a statement signed by its President, Joe Ajaero, lamented that the levy was another anti-people policy of the government, imposed amid economic hardship.

Ajaero noted, “NLC vehemently condemns the recent directive by the Central Bank of Nigeria to levy a 0.005 per cent ‘Cybersecurity Levy’ on electronic transfers.

“This levy, to be implemented by deduction at the transaction origination, is yet another burden on the shoulders of hardworking Nigerians. This move, ostensibly aimed at bolstering cybersecurity measures, threatens to exacerbate the financial strain already faced by the populace.”