The Nigeria Labour Congress (NLC) has rejected the directive
by the Central Bank of Nigeria (CBN) for all financial institutions to
implement a 0.5 percent cybersecurity levy on all electronic transactions.
The new policy is expected to take effect in two weeks,
according to a circular jointly signed by Chibuzor Efobi, CBN’s director of
payments system management, and Haruna Mustafa, director of financial policy
and regulation.
In a statement on Tuesday, Joe Ajaero, NLC president, said
the congress condemned the directive, describing it as “another burden on the
shoulders of hardworking Nigerians”.
“The Nigeria Labour Congress recognises the importance of
cybersecurity in today’s digital age,” the statement reads.
“However, imposing
such a levy on electronic transactions without due consideration for its
implications on workers and vulnerable segments of society is unjustifiable.
“This levy stands as another tax that is too much for
Nigerians, burdening them with additional financial responsibilities.
“We see this levy as another gang-up by the ruling elite to
continue its extortion and exploitation of hapless and helpless workers and the
masses.”
Ajaero said such deductions directly affect the disposable
income of workers and further diminish the purchasing power of the common
citizen.
He lamented that domestic manufacturers and other businesses
were already shuttering as a result of the stifling socio-economic environment.
“We urge a collaborative approach between the government,
regulatory bodies, and stakeholders to develop sustainable cybersecurity
measures that do not unduly burden the populace,” the NLC president said.
“We reiterate our commitment to championing the rights and
welfare of Nigerian workers and the masses.”
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