Nigerian Labour Congress, NLC, Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), others yesterday faulted the timing of the newly imposed 0.5 percent tax on most electronic transactions by the Central Bank of Nigeria (CBN).
The CBN announced the new tax on Monday, explaining that the new charge was part of efforts to contain the rising threat of cybercrime in the financial system.
However, many stakeholders, institutions, and financial market analysts condemned the new levy as an unnecessary extra weight on the already stressed and fraught citizenry.
They included Nigeria Labour Congress (NLC); National President of Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Mr. Dele Kelvin Oye; Socio-Economic Rights and Accountability Project (SERAP); and Managing Director, Financial Derivatives Company Limited, Bismarck Rewane.
The new fee was also denounced by Chief Executive Officer of Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf; former Commissioner for Finance, Imo State, Professor Uche Uwaleke; and other financial market analysts.
Arise News/ Oluwabusayo Oyinloye
