The Nigeria Labour Congress (NLC) has strongly opposed the Central Bank of Nigeria’s (CBN) newly-introduced cybersecurity levy, demanding its immediate withdrawal.
In a statement released by the NLC, the organization vehemently condemned the CBN’s directive to levy a 0.005 percent “Cybersecurity Levy” on electronic transfers.
The levy, to be deducted at the transaction origination, adds another financial burden on hardworking Nigerians.
The circular issued by the CBN mandates banks and payment service operators to implement these deductions within the next two weeks.
Despite purported intentions to enhance cybersecurity measures, the NLC asserts that this move threatens to exacerbate the financial challenges already burdening the populace.
