TUC Threatens Nationwide Shutdown Over Cybersecurity Levy
Festus Osifo

The Trade Union Congress (TUC) has threatened to shut down the Nigerian economy through a massive protest should the Federal Government insist on implementing the controversial cybersecurity levy recently introduced by the Central Bank of Nigeria.

in a statement signed by its President, Festus Osifo, the TUC bemoaned the directive by the CBN to banks imposing a 0.5 per cent cybersecurity levy on almost all electronic transactions.

Africa Today News, New York reports that this is coming barely 24 hours after the Nigeria Labour Congress (NLC) had heavily criticized the levy which it described as another burden on Nigerians.

Adding to the deluge of condemnations that have greeted the introduction of the levy which the CBN said will take effect in two weeks from May 6, the TUC said it is illogical that this is coming at a time that Nigerians are grappling with the high cost of living that is imposed by the devaluation of Naira, hyper hike in the cost of Petrol, supersonic increment in the cost of electricity tariff, etc.

The union said it is disturbed that since the inception of the President Bola Tinubu-led administration, government policies have brought pain, anguish and sorrow to Nigerians.

It lamented that account holders in Nigeria are already dealing with multiple taxation from both the Federal Government and the banks.

Read Also: NLC, CBN Clash Over Cybersecurity Levy

The TUC berated the National Assembly for “colluding” with “elements in the executive” to “exploit” the citizens they ought to be protecting.

Saying that all Nigerians are interested in right now is the urgent conclusion of discussions around the minimum wage and not a “vexatious policy”, the TUC urged the Federal Government to immediately direct the CBN to withdraw the circular to banks and cancel the levy forthwith.

It said that it will be left with no option but to mobilize all its members, stakeholders and indeed the entire masses “to embark on the immediate protest that would culminate into the total shutdown of the Nigerian economy as this is one exploitation too many.”

Africa Today News, New York

Leave a Reply

Your email address will not be published. Required fields are marked *