“It’s a Gang-Up by Ruling Elite”: NLC Rejects CBN’s 0.5% Cybersecurity Levy, Identifies 1 Issue

• Organised labour has weighed in on the recent directive of the CBN’s planned 0.5% Cybersecurity Levy
• NLC president, Joe Ajaero, described the planned levy introduced by the CBN under Bola Tinubu’s government as another burden on Nigerians
• Labour demanded the withdrawal of the levy, insisting the deductions would directly affect the disposable income of workers in the country

TheTalk.NG journalist Esther Odili has over two years of experience covering political parties and movements.

The leadership of the Nigeria Labour Congress (NLC) has rejected the Central Bank of Nigeria (CBN)’s newly introduced cybersecurity levy and demanded its immediate withdrawal.

The NLC has explained how the CBN’s 0.5% Cybersecurity Levy will affect NigeriansSource: Facebook

“A heavy burden”: NLC demands withdrawal of cybersecurity levy

Recall that the CBN directed deposit money banks in the country to start charging 0.5% cybersecurity levy on transactions on Monday, May 6.

This was contained in a circular dated May 6, 2024, by the apex bank to all commercial, merchant, non-interest and payment service banks as well as mobile money operators and payment service providers.

The circular from the apex bank disclosed that the implementation of the levy would start two weeks from today.

Rejecting the policy, NLC in a statement by its president, Joe Ajaero, lamented that the levy is another anti-people policy of the government in the midst of excruciating economic hardship, Channels TV reported.

As reported by The Punch, he noted that the deductions directly affect the disposable income of workers, and further diminish the purchasing power of the common citizens.

Speaking further, he said the directive is another gang up by the ruling elite, to continue its extortion and exploitation of helpless workers and the masses.

“The Nigeria Labour Congress recognises the importance of cybersecurity in today’s digital age.

“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,” the statement reads.

Sowore reacts to cybersecurity levy

Similarly, the presidential candidate of the African Action Congress (AAC) in the 2023 election, Omoyele Sowore, accused the CBN of using the newly amended Cybercrimes Prohibition Act of 2015 to rob Nigerians.

Sowore stated this while reacting to the new CBN directive for commercial banks to impose a 0.5% cybersecurity levy on all transactions.

He added that just like the CBN, the Nigeria Police Force is using the old Cybercrimes Prohibition Act as a tool to cage journalists in the country.

Source: TheTalk.NG

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