The Trade Union Congress (TUC) has issued a stern warning to the Nigerian government, stating that it will shut down the country’s economy if the Central Bank of Nigeria (CBN) does not reverse its decision to introduce a cybersecurity levy. The CBN recently directed commercial banks and financial institutions to implement this levy on banking transactions, which has sparked outrage among Nigerians who are already grappling with the high cost of living and multiple taxation.
In a statement released by TUC President Festus Osifo, the congress condemned the CBN’s decision, describing it as illogical and insensitive to the economic hardships faced by Nigerians. The TUC highlighted the devaluation of the naira, the increased cost of petrol, and the recent hike in electricity tariffs as examples of the burdens already placed on the citizens.
The union emphasized that it is unjust for the CBN to introduce yet another levy while Nigerians are already burdened with multiple taxes from both banks and the government. The TUC expressed its disappointment with the policies of the current administration, claiming that they have brought pain, sorrow, and anguish to the Nigerian people.
The TUC also criticized the National Assembly, accusing it of colluding with elements within the executive branch to exploit the population. The union characterized the introduction of the cybersecurity levy as a conspiracy of the oppressors against the masses, calling for resistance from all well-meaning Nigerians.
In a strong ultimatum, the TUC demanded that the federal government instruct the CBN to withdraw the circular and cancel the planned levy immediately. Failure to comply with this demand would result in the TUC mobilizing its members, stakeholders, and the entire population to embark on immediate protests, leading to the total shutdown of the Nigerian economy.
The TUC’s threat to shut down the economy underscores the gravity of the situation and the deep dissatisfaction among Nigerians regarding the introduction of the cybersecurity levy. It remains to be seen how the government will respond to this ultimatum and whether any changes will be made to address the concerns raised by the TUC and the Nigerian people.
