Thursday, May 23, 2024
HomeNewsTUC rejects cybersecurity levy, says the decision will not stand; threatens to...

TUC rejects cybersecurity levy, says the decision will not stand; threatens to nationwide shutdown

The Trade Union Congress (TUC) has strongly condemned the controversial cybersecurity levy introduced by the Central Bank of Nigeria (CBN), threatening a massive protest to shut down the Nigerian economy if the federal government fails to cancel the levy.

TUC President, Festus Osifo, criticized the directive by the CBN imposing a 0.5 per cent cybersecurity levy on electronic transactions, labeling it as another burden on Nigerians already grappling with high living costs.

The statement also criticized the National Assembly for colluding with the executive to exploit the people instead of protecting their interests.

TUC emphasized the burden of various charges imposed on bank account holders by both government and banks, highlighting the adverse impact on businesses and financial inclusion.

The labor center expressed dismay at the introduction of policies exacerbating the hardship faced by Nigerians, particularly under the current administration, led by Tinubu.

TUC demanded the immediate withdrawal and cancellation of the cybersecurity levy, emphasizing that failure to do so would lead to a mass protest and the shutdown of the Nigerian economy.

The statement underscored the urgent need to conclude discussions on the minimum wage and called for policies that alleviate, rather than exacerbate, the economic hardship faced by Nigerians.



Please enter your comment!
Please enter your name here

Most Popular