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NLC Rejects CBN’s Proposed Cybersecurity Levy on Electronic Transfers

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The Central Bank of Nigeria (CBN) proposed 0.005 percent cybersecurity levy on electronic transfers has been met with rejection by the Nigeria Labour Congress (NLC) describing it as a coordinated effort to exploit the Nigerian populace.

In his statement, NLC President, Comrade Joe Ajaero criticized the policy, denouncing it as an additional financial strain on Nigerian workers already facing economic challenges.

The Congress raised concerns about the government’s intention behind the levy, suggesting that it could deter electronic transactions and incentivize a return to cash transactions, a step backward in the digital era.

Meanwhile, in an interview with newsmen, former House of Representative, Dr. Aliyu Gebi disclosed that Nigeria is more prone to cybersecurity attacks than any other developing country.

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