The Trade Union Congress (TUC) has issued a warning to the Nigerian government, threatening to initiate a nationwide protest that could paralyze the economy if the recently introduced cybersecurity levy by the Central Bank of Nigeria (CBN) is not revoked.
In a statement released by TUC President Festus Osifo, the organization criticized the CBN’s directive imposing a 0.5 percent cybersecurity levy on electronic transactions, labeling it as burdensome for Nigerians already grappling with economic challenges.
The outcry against the levy has been widespread, with the Nigeria Labour Congress (NLC) also condemning it as another financial strain on citizens.
The TUC expressed disbelief at the timing of the levy, coinciding with a period of high living costs exacerbated by currency devaluation, petrol price hikes, and electricity tariff increases.