Headline : Cybersecurity levy: Peter Obi accuses FG of milking a dying economy

Read more from the original article on here at technext24.com.

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Following a CBN circular directing banks to start collecting and remitting a cybersecurity levy on electronic transactions, the former presidential candidate of the Labour Party at the 2023 presidential election, Peter Obi has accused the Federal Government of milking Nigeria’s dying economy.

The former presidential candidate who has settled well into his role as the head of the opposition made the statement in a series of tweets. In one of the tweets, he lamented that the government ought to be looking for ways to revive the economy and stave off the ever-rising inflation instead of looking for ways to further squeeze the economy.

“The introduction of yet another tax, in the form of Cybersecurity Levy, on Nigerians who are already suffering severe economic distress is further proof that the government is more interested in milking a dying economy instead of nurturing it to recovery and growth,” Peter Obi said in the tweets.

He further pointed out that the new levy does not only amount to multiple taxations on banking transactions, which are already subject to various other taxes including stamp duties, but it also negates the Government’s avowed commitment to reduce the number of taxes and streamline the tax system.

Read more from the original article on here at technext24.com.

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