The Nigeria Labour Congress (NLC) has labeled the proposed cybersecurity levy by the Central Bank of Nigeria (CBN) on all electronic transactions as yet another financial strain on Nigerians.
As per a circular sent to various financial institutions, including commercial, merchant, non-interest, and payment service banks, the CBN announced that the levy would be implemented within two weeks from May 6.
This move has ignited widespread disapproval among Nigerians and civil society groups. NLC President Joe Ajaero rebuked the policy, highlighting its direct impact on workers’ disposable income and its further erosion of the purchasing power of ordinary citizens.
