TUC threatens nationwide protest over cybersecurity levy

Should the Federal Government fail to revoke the contentious cybersecurity levy that the Central Bank of Nigeria recently imposed, the Trade Union Congress (TUC) has vowed to stage a major protest that will bring down the whole Nigerian economy. 

In a statement released on Wednesday and bearing the signature of its President, Festus Osifo, the TUC denounced the CBN's order to banks charging 0.5% of practically all electronic transactions as a cybersecurity fee. 

This comes after the levy was harshly attacked by the Nigeria Labour Congress (NLC), which called it yet another tax on Nigerians.

The introduction of the levy has been met with a barrage of criticism. The CBN stated that it will go into effect in two weeks on May 6. 

The TUC added that it is illogical for this to happen at a time when Nigerians are already struggling with a high cost of living brought on by the devaluation of the Naira, a hyperinflation in the price of petrol, a supersonic increase in the cost of electricity tariffs and other factors. 

The union expressed dismay at the ways that government policies have caused suffering, agony, and sadness for Nigerians since the start of the President Bola Tinubu-led administration. 

It bemoaned the fact that Nigerian account holders already had to contend with several levies from the banks and the federal government.

Declaring that the urgent resolution of the minimum wage debate, rather than a "vexatious policy," is what Nigerians are interested in right now, the TUC urged the Federal Government to order the CBN to immediately retract the circular to banks and promptly repeal the charge. 

It declared that since this is one instance of exploitation too many, it will have no choice but to organise all of its supporters, members, and the general public "to embark on the immediate protest that would culminate into the total shutdown of the Nigerian economy."

Source