By Ken Afor
Nigeria’s House of Representatives has rejected a motion seeking to suspend the recently implemented cybersecurity levy, which is expected to come into force in the next few days.
The New Diplomat reports that during Wednesday’s plenary session, Hon. Mansur Manu Soro, representing Darazo/Ganjuwa Federal Constituency of Bauchi State, who moved the motion, argued that the timing of the introduction of the levy was inappropriate, given the current economic hardships faced by many Nigerians.
He maintained that the additional financial burden would further strain the already stretched resources of the populace.
Soro also contended that the National Security Adviser, being a political office, lacks the mandate to manage accruals from the cybersecurity levy.
However, the Speaker, Tajudeen Abbas, urged the lawmaker to withdraw the motion to enable the House leadership to discuss the most appropriate way to address the issue.
It would be recalled that the Central Bank of Nigeria (CBN) had in a circular on Monday, May, 2024, ordered banks operating in the country to start charging a cybersecurity levy on transactions.
According to the circular, the implementation of the levy would start two weeks from Tuesday, May 7, 2024.
The circular was directed to all commercial, merchant, non-interest and payment service banks, among others.
This, however, sparked a wave of criticism from various segments of the Nigerian public, who perceive the levy as an unnecessary burden in the prevailing economic climate.
The Nigeria Labour Congress (NLC), described it as an additional burden on Nigerians.
Dismissing the policy, Comrade Joe Ajaero, President of the NLC, in a statement, emphasized that such deductions directly impact workers’ disposable income, leading to a decline in the purchasing power of ordinary citizens.
He stated that the directive represents yet another collusion by the ruling elite to perpetuate their exploitation of vulnerable workers and the general populace.
“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 his concern that domestic manufacturers and other businesses were already closing down due to the oppressive 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.
