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| NLC Opposes Cybersecurity Levy |
NLC President Joe Ajaero expressed outrage at the directive, demanding the immediate withdrawal of the levy. He characterized it as yet another anti-people policy by the government, adding to the existing economic hardship faced by hardworking Nigerians
The Nigeria Labour Congress (NLC) has strongly rejected the newly introduced 0.5% cybersecurity levy on all bank transactions.
In a circular issued by the Central Bank of Nigeria (CBN) on Monday, it was announced that the implementation of the levy would commence two weeks from Monday, May 6, 2024. The levy will be applied at the point of electronic transfer origination, deducted, and remitted by financial institutions. The deducted amount will be reflected in customers' accounts with the label "Cybersecurity Levy."
NLC President Joe Ajaero expressed outrage at the directive, demanding the immediate withdrawal of the levy. He characterized it as yet another anti-people policy by the government, adding to the existing economic hardship faced by hardworking Nigerians. The move, ostensibly aimed at enhancing cybersecurity measures, risks exacerbating the financial strain on the populace.
