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outcry as new policy slashes Nigerian workers disposable income, civil society sounds alarm


The Nigeria Labour Congress (NLC) has criticized the proposed cybersecurity levy recently introduced by the Central Bank of Nigeria (CBN) on electronic transactions, stating that it will further strain Nigerians financially.
As per a circular distributed to various financial institutions such as commercial, merchant, non-interest, and payment service banks, the apex bank announced that the levy would be implemented within two weeks from May 6.
Rejectin the policy, NLC President Joe Ajaero emphasized that these deductions directly impact workers’ disposable income, consequently reducing the purchasing power of ordinary citizens. He argued that the directive represents yet another collusion by the ruling elite to perpetuate the exploitation of vulnerable workers and the general populace.
The introduction of this policy has sparked widespread criticism from both Nigerians and civil society organizations.
NLC President Joe Ajaero voiced his disapproval, highlighting how these deductions directly affect workers’ disposable income, thereby diminishing the purchasing power of ordinary citizens.
He contended that the directive reflects another instance of collusion by the ruling elite to exploit vulnerable workers and the general population.
“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 expressed concern that domestic manufacturers and other businesses were already closing down due to the challenging socio-economic conditions.
“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.


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