NEWS

TUC Threatens Nationwide Shutdown Over Cybersecurity Levy

TUC President, Festus Osifo, criticized the CBN’s directive imposing a 0.5 per cent cybersecurity levy on nearly all electronic transactions.

By Musa Ibrahim

The Trade Union Congress (TUC) has issued a stern warning of a significant protest that could halt the Nigerian economy unless the Federal Government reverses the contentious cybersecurity levy recently implemented by the Central Bank of Nigeria.

TUC President, Festus Osifo, criticized the CBN’s directive imposing a 0.5 per cent cybersecurity levy on nearly all electronic transactions, echoing the Nigeria Labour Congress (NLC)’s condemnation of the levy as an additional burden on Nigerians.

The TUC expressed disbelief at the timing of this levy amidst Nigerians’ struggles with soaring living costs due to currency devaluation, fuel price hikes, and steep electricity tariff increases. They criticized the administration’s policies under President Bola Tinubu for causing hardship to Nigerians.

Furthermore, the TUC denounced the National Assembly for allegedly collaborating with elements in the executive to exploit citizens through excessive taxation.

Urging immediate action on minimum wage discussions rather than divisive policies, the TUC demanded the Federal Government instruct the CBN to retract the circular to banks and cancel the levy without delay.

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