Presidential candidate of the Labour Party in the 2023 elections, Mr Peter Obi, Trade Union Congress, TUC, of Nigeria, and the Coalition of Northern Group, CNG, have condemned the cybersecurity levy introduced by the Central Bank of Nigeria, CBN.
While TUC described the levy expected to take effect within two weeks from May 6, as a vexatious extortion of the masses that should not be allowed to stand, Obi saw the new levy as one tax too many.
Similarly, the Coalition of Northern Groups, CNG, outrightly rejected the proposed levy, saying it would worsen the already bad economic situation of Nigerians.
The TUC, which also took a swipe at President Bola Tinubu’s administration for policies that had brought pain, anguish and sorrow to Nigerians, gave the federal government an ultimatum to give marching orders to the CBN to immediately withdraw the circular and cancel the planned levy.
The labour movement threatened that if the planned implementation of the 0.5 per cent cybersecurity levy was not cancelled, it have no other option than to mobilize all its members, stakeholders and the entire masses to embark on the immediate protest that would culminate in a total shutdown of the nation’s economy.
In a statement signed yesterday by the President, Comrade Festus Osifo, the TUC alleged that so many policies of the government were not only imposing hardship on downtrodden Nigerians but also businesses, as some of them were shutting down because of the unfriendly business environment.
The statement entitled, “Cybersecurity Levy: This Extortion is Vexatious and will not stand,” read: “The Trade Union Congress of Nigeria, TUC, has received with rude shock the recent directive by the Central Bank of Nigeria, CBN, in a circular to banks imposing a 0.5 per cent cybersecurity levy on almost all electronic transactions.
“It is, indeed, illogical that this is coming at a time Nigerians are grappling with the high cost of living that is imposed by the devaluation of the naira, hyper hike in the cost of petrol, supersonic increment in the cost of electricity tariff, etc.
“We are quite disturbed that since the inception of this administration, its policies have brought pain, anguish and sorrow to Nigerians. Whereas a bank account holder in Nigeria today is currently charged stamp duty, transfer fee, VAT on transfer fee, and all forms of account maintenance levies by both government and the banks, this burden seems not to be enough as the government is poised to inflict further pain on the already battered Nigerians.”
Accusing the government of stifling the business environment, the TUC said: “So many policies of this government are not only imposing hardship on the downtrodden Nigerians but also businesses, as some of them are shutting down because of the unfriendly business environment.”
It accused the National Assembly of not being alive to its responsibilities, alleging that the federal lawmakers conspired with those exploiting the masses to inflict more pain on them.
TUC stated further: “The National Assembly that ought to be the bastion of democracy and the protector of the citizens oftentimes engages in collusion with elements within the executive to exploit the people.
“How can such obnoxious law see the light of day in a truly people-oriented legislative house? This is indeed, a conspiracy of the oppressors against the masses and citizens of this country and it must be resisted by all well-meaning Nigerians.
“Financial analysts have done a preliminary estimate, using the 2023 online transfer volume in Nigeria that fell within these categories and put the value at over N2 trillion. What kind of cybercrime are we fighting with this humongous amount of money?
“This ugly development will further encourage people to hoard cash at home, reduce financial inclusion, increase poverty and exacerbate the misery index.
“The cost of living is at an all-time high, food inflation is biting, all contributing to the miserability of Nigerians. This act is viewed as a deliberate plot to continue to drain Nigerians of their hard-earned money and we kick against this vehemently.”
