UPDATE: REPS STEP DOWN MOTION FOR SUSPENSION OF CYBER SECURITY LEVY
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Nigerians have responded negatively to a House of Representatives motion that called for the suspension of the cybersecurity levy.
The charge was introduced at the incorrect time, according to Hon. Manu Soro, who made the motion on the floor of the house on Wednesday, given the state of Nigerians’ current living conditions.
The legislator had maintained that managing accruals is outside the purview of the National Security Adviser’s political office.
Speaker Tajudeen Abbas, however, pleaded with the MP to withdraw the proposal so that the House leadership could discuss the appropriate course of action.
The Central Bank of Nigeria (CBN) has proposed a cybersecurity levy on all electronic transactions, which the Nigeria Labour Congress (NLC) has called yet another tax on Nigerians.
The top bank said in a circular to several financial institutions—commercial, merchant, non-interest, and payment service banks—that the charge would take effect two weeks from May 6.
The imposition of the levy has drawn harsh condemnation from civil society organisations and Nigerians in general.
The NLC President, Joe Ajaero, rejected the programme, claiming that it further reduced the purchasing power of average residents and had a direct impact on workers’ disposable income.
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He said the directive is another gang up by the ruling elite, to continue its extortion and exploitation of helpless workers and the masses.
“The Nigeria Labour Congress recognises the importance of cybersecurity in today’s digital age,” the statement reads.
“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 that is 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.”
Ajaero lamented that domestic manufacturers and other businesses were already shuttering as a result of the stifling socio-economic environment.
“We urge a collaborative approach between the government, regulatory bodies, and stakeholders to develop sustainable cybersecurity measures that do not unduly burden the populace.
“We reiterate our commitment to championing the rights and welfare of Nigerian workers and the masses,” the NLC President said.
Also reacting, the former presidential candidate of the Labour Party (LP), Peter Obi, said the 0.5 per cent levy came at a time when the government should be reducing taxes to curb inflation.
“The government is instead introducing new taxes. And when did the office of the NSA become a revenue-collecting centre?,” he queried in a post on his X handle on Wednesday.
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