The Nigeria Labour Congress, NLC, has rejected the recent directive of 0.5% cybersecurity levy on electronic transfers by the Central Bank of Nigeria (CBN).
The NLC President, Joe Ajaero, had revealed NLC’s stance in a statement made available to newsmen on Tuesday, April 7 in Abuja.
Ajaero in a reaction to a recent circular issued by the CBN, compelling banks and payment service operators to effect the deductions, in two weeks, had said that the move is ‘supposedly aimed at reinforcing cybersecurity measures, threatens to worsen the financial strain already faced by the populace.’
Ajaero had also said that the NLC was vehemently criticising the directive and therefore, are calling for an immediate stoppage and reversal of the policy.
What They’re Saying:
Ajaero had spoken for the NLC, saying:
“The Nigeria Labour Congress recognises the importance of cybersecurity in today’s digital age.“However, imposing such a levy on electronic transactions without due consideration for its implications on workers and vulnerable segments of society is unjustifiable.
“This levy stands as another tax too much for Nigerians, burdening them with additional financial responsibilities. We see this levy as another gang-up by the ruling elite to continue its extortion and exploitation of hapless and helpless workers and the masses.”
He explained that while the CBN had excluded interbank transfers and loan transactions from the levy, the broader impact on everyday transactions should not be overlooked.
Ajaero further stated that such deductions directly affect the disposable income of workers and further diminished the purchasing power of the common man.
The NLC president then called on the Federal Government to reconsider the directives and prioritise policies that serve to reduce the financial burdens of Nigerians.
“We reiterate our commitment to championing the rights and welfare of Nigerian workers and the masses,” he had concluded.
Why It Matters:
NLC’s vocal opposition to the CBN’s cybersecurity levy emphasises how important, the role of advocacy organizations in safeguarding citizens’ interests is. Here’s why their opposition matters:
- Organizations like the NLC serve as a voice for the concerns and grievances of ordinary citizens. The organisation also ensures that their interests are represented and protected in policy decisions that directly impact their lives.
- By challenging certain government directives such as the cybersecurity levy, the NLC makes sure that a balance of power and accountability is maintained.
- The NLC’s call for the government to reverse the cybersecurity levy encourages for a more thoughtful approach to the government’s decision-making process that advocates for the welfare of Nigerian workers and the masses.
Bottom Line:
The NLC’s stance on issues like the cybersecurity levy serves as a check on the government’s power and an advocacy for the rights and welfare of Nigerian citizens, especially those very susceptible to economic hardships.
