By Sunday Etuka, Abuja
The Presidential Candidate of the Labour Party in the 2023 general election, Mr. Peter Obi has stated that the imposition of the Cybersecurity levy on suffering Nigerians was a further proof that the present government was more interested in milking a dying economy instead of nurturing it to recovery and growth.
Obi who posted this on his X handle on Wednesday lamented that the action of government did 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 former Governor of Anambra State explained that “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”.
He said, it is inconceivable to expect the suffering citizens of Nigeria to separately fund all activities of the government, adding that policies such as this not only impoverish the citizens but make the country’s economic environment less competitive.
The Labour Party Chieftain, further lamented that “at a time when the government should be reducing taxes to curb inflation, the government is instead introducing new taxes.
“And when did the office of the NSA become a revenue collecting centre? And why should that purely national security office receive returns on a specific tax as stated in the new cybersecurity law?”, he questioned.
