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Nigeria Labour Congress, Trade Union Congress and bank customers and other agencies have opposed vehemently 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, to impose undue hardship on the masses.
According to him, “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.”
Similarly, the Trade Union Congress on Tuesday describing it as a move that would drive Nigerians away from the formal banking system.
The National Vice President of TUC, Tommy Etim, said, “It is highly unfortunate. It is also another way to discourage people from banking. If people are discouraged from banking because of deductions such as cybersecurity levy, and admin charges, it means that the informal economy, manufacturing economy and entrepreneurs will suffer.
He called on the government to stop implementation of anti-people policies.
The CBN in a circular issued on Monday ordered banks operating in the country to start charging a cybersecurity levy on transactions in two weeks from the date of the issuance of the circular.
