Former presidential candidate of the Labour Party(LP) Peter Obi, has slammed President Bola Tinubu’s government for the imposition of the cybersecurity levy on Nigerians.
Obi in a post on his X account on Wednesday, noted that the tax is ill conceived and designed to milk a dying economy.
According to him, the imposition of a Cybersecurity Levy on Nigerians will further erode whatever is left of their remaining capital after the impact of the Naira devaluation and high inflation rate.
The former Anambra State governor said it was unthinkable to expect the suffering citizens of Nigeria to separately fund all activities of the government.
He said: “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.
“This does not only amount to multiple taxation on banking transactions, which are already subject to various other taxes including stamp duties but negates the Government’s avowed commitment to reduce the number of taxes and streamline the tax system.
“The imposition of a Cybersecurity Levy on bank transactions is particularly sad given that the tax is on the trading capital of businesses and not on their profit hence will further erode whatever is left of their remaining capital, after the impact of the Naira devaluation and high inflation rate.”
