The Nigeria Labour Congress (NLC) has voiced its opposition to the newly introduced cybersecurity levy by the Central Bank of Nigeria (CBN), labeling it as an additional hardship for Nigerians. The levy, outlined in a recent circular to various financial institutions, including commercial, merchant, non-interest, and payment service banks, is set to take effect within two weeks from May 6.

The decision to implement this levy has been met with widespread criticism from Nigerians and civil society organizations alike. NLC President, Joe Ajaero, expressed strong disapproval of the policy, highlighting how such deductions directly impact workers' disposable income and further erode the purchasing power of ordinary citizens. He characterized the directive as another instance of the ruling elite's concerted effort to exploit and extort the vulnerable segments of society.

While acknowledging the importance of cybersecurity in today's digital landscape, Ajaero emphasized that imposing such a levy on electronic transactions without due consideration for its repercussions on workers and vulnerable groups is unjustifiable. He denounced the levy as an additional tax burden on Nigerians, exacerbating their financial obligations.

Ajaero lamented the adverse effects of the levy on domestic manufacturers and other businesses, exacerbating the already challenging socio-economic environment. He called for a collaborative effort between the government, regulatory bodies, and stakeholders to develop sustainable cybersecurity measures that do not overly burden the populace.

In conclusion, Ajaero reaffirmed the NLC's unwavering commitment to advocating for the rights and welfare of Nigerian workers and the general populace.