Daily Trust reports that since the Central Bank of Nigeria directed all banks in the country to begin the deduction of 0.5% of the value of all electronic transactions from customers, Nigerians across different spectrums have rejected the levy, describing it as an additional burden on them.
Soro argued that imposing new taxes or increasing existing ones amidst the ongoing economic challenges faced by Nigerians, exacerbated by the removal of fuel subsidy and the depreciation of the naira, would only add to the burden of citizens already grappling with rising living costs and food prices.
He also urged the Minister of Finance to refrain from introducing new taxes or raising existing rates until the economic situation in the country improves significantly. The union urged the federal government to direct the Central Bank of Nigeria to withdraw its directive to financial institutions on the issue to avert the shutdown.Osifo criticised the cybersecurity levy as illogical, particularly considering the current challenges faced by Nigerians due to the high cost of living.