Peter Obi Explains Opposition To Tinubu Govt’s New Money Raising Scheme

Peter Obi, the Labour Party’s presidential candidate in the 2023 general election, has strongly condemned the Federal Government’s introduction of the Cybersecurity Levy, calling it a move that will further cripple the economy and impoverish citizens.

In a statement released on May 8, Obi criticized the government for prioritizing revenue generation over economic recovery and growth. He argued that policies like the Cybersecurity Levy will make Nigeria’s economic environment less competitive and exacerbate the suffering of its citizens.

GWG.ng reports that the Central Bank of Nigeria (CBN) had announced on May 6 that banks will start charging a 0.5% cybersecurity levy on certain customer transactions, effective in two weeks. The revenue generated will be remitted to the National Cybersecurity Fund (NCF), which will be administered by the Office of the National Security Adviser (ONSA).

Obi expressed dismay that the ONSA has now become a revenue collection center, highlighting the government’s misplaced priorities. He emphasized that the Cybersecurity Levy will only serve to further burden Nigerians and undermine the country’s economic prospects.

See his post below ;

The former presidential candidate’s statement echoes the concerns of many Nigerians who have expressed outrage over the introduction of the Cybersecurity Levy, fearing its impact on their already strained finances. As the government faces mounting criticism, it remains to be seen how it will address the concerns of its citizens and steer the economy towards recovery and growth.

GWG.ng reports that the stance of Mr Peter Obi on the cybersecurity levy is one that many Nigerians under the burden of the harsh economic conditions are bound to identify with. However, whether the opposition leader is furthering his political aspirations with this is another matter that is yet to be determined.
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