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Many people and businesses are unhappy about the new 0.5% cybersecurity levy that the Central Bank of Nigeria (CBN) recently announced.
This levy means that commercial banks and other financial institutions will charge an extra 0.5% on transactions.
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The Lagos Chamber of Commerce & Industry (LCCI) has asked the government to rethink this levy because they think it’s the wrong time to introduce it. Dr. Chinyere Almona, who leads the LCCI, says that adding this levy when people are already dealing with high electricity costs doesn’t make sense. She thinks the government should talk to more people before making decisions like this.
Many people agree with Dr. Almona. They say that the economy is already tough with prices going up and salaries staying low. They don’t think cybersecurity should be the priority right now.
Some people in Onitsha have mixed feelings about the levy. Some think it’s necessary for the government to collect taxes to pay for important things, while others think it’s not the right time for this levy, especially when many people are struggling financially.
A student named Favour thinks the banks were already charging too much before this levy, and now it’s even worse for customers. Another person, Agnes, worries that this levy will make people keep their money at home instead of using banks. She thinks the government should think about how this will affect poor people before going ahead with it.
