The Trade Union Congress (TUC) has issued a stern warning to the Federal Government, threatening a massive protest that will shut down the Nigerian economy if the controversial cybersecurity levy recently introduced by the Central Bank of Nigeria (CBN) is not cancelled.
In a statement signed by its President, Festus Osifo, on Wednesday, the TUC slammed the CBN’s directive imposing a 0.5% cybersecurity levy on almost all electronic transactions, describing it as “illogical” and “exploitative”.
The union argued that the levy, which is set to take effect in two weeks, will further burden Nigerians who are already grappling with the high cost of living, hyper-inflation, and multiple taxation.
The TUC also berated the National Assembly for “colluding” with the executive to “exploit” citizens, and urged the Federal Government to direct the CBN to withdraw the circular and cancel the levy forthwith.
Failure to do so, the union warned, will lead to a nationwide protest that will culminate in the total shutdown of the Nigerian economy.
This threat comes on the heels of similar condemnation by the Nigeria Labour Congress (NLC), which described the levy as “another burden on Nigerians”.
The cybersecurity levy has been widely criticized as another example of government policies that impose pain and hardship on Nigerians, and the TUC’s threat of a nationwide shutdown has raised concerns about the potential economic and social implications.
