The Trade Union Congress (TUC) has threatened to organize a massive protest that will shut down the Nigerian economy if the Federal Government fails to cancel the controversial cybersecurity levy recently introduced by the Central Bank of Nigeria (CBN).
The TUC, in a statement signed by its President Festus Osifo, criticized the CBN's directive to banks to impose a 0.5% cybersecurity levy on almost all electronic transactions. This comes after the Nigeria Labour Congress (NLC) had also heavily criticized the levy, describing it as an additional burden on Nigerians.
The TUC said the introduction of the levy is illogical, as it comes at a time when Nigerians are already facing a high cost of living due to Naira devaluation, a hike in petrol prices, and a significant increase in electricity tariffs. The union expressed concern that since the current administration took office, its policies have brought pain, anguish and sorrow to Nigerians.
The TUC berated the National Assembly for "colluding" with "elements in the executive" to "exploit" the citizens they are supposed to protect. The union urged the Federal Government to immediately direct the CBN to withdraw the circular to banks and cancel the levy.
The TUC said it will be left with no option but to mobilize all its members, stakeholders, and the entire masses "to embark on the immediate protest that would culminate into the total shutdown of the Nigerian economy," as this is "one exploitation too many."
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