NEWS

Harship: Labour Rejects Cybersecurity Levy

NLC President Joe Ajaero expressed concern that the levy represents yet another detrimental government policy.

By Karo Oghenetega

The Nigeria Labour Congress (NLC) has opposed the recently introduced cybersecurity levy by the Central Bank of Nigeria (CBN), calling for its immediate repeal.

NLC President Joe Ajaero expressed concern that the levy represents yet another detrimental government policy during a time of severe economic hardship.

According to the statement, “The Nigeria Labour Congress, NLC, vehemently condemns the recent directive by the Central Bank of Nigeria, CBN, to levy a 0.005 percent ‘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.

“In a circular issued by the CBN, the directive mandates banks and payment service operators to affect these deductions, effective next two weeks.

“This move, ostensibly aimed at bolstering cybersecurity measures, threatens to exacerbate the financial strain already faced by the populace.”

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