• Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
Saturday, July 19, 2025
  • Login
No Result
View All Result
NEWSLETTER
Elanza News
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
No Result
View All Result
Elanza News
Home News

Northern group rejects CBN’s cyber security levy

Ojimaojo Abubakar by Ojimaojo Abubakar
May 8, 2024
in News
0
Northern group rejects CBN’s cyber security levy
0
SHARES
32
VIEWS
FacebookTwitterWhatsappEmailTelegram
The Coalition of Northern Groups (CNG) strongly rejects the proposed imposition of a 0.5% cyber security levy on every electronic transaction in the Nigerian banking system by the Central Bank of Nigeria (CBN).

This was contained in a statement signed by its national coordinator, Comrade Jamilu Aliyu Charanchi and made available to Peoples Daily in Abuja yesterday.

This levy, which is expected to be effective within the next two weeks, exemplifies the federal government’s lack of compassion and empathy for the plight of Nigerians in the face of the current economic hardship.

RelatedPosts

The Silent Giver — Unveiling the Heart of Ilyas Abubakri Olanrewaju

Veteran Nollywood Actor Tom Njemanze Has Died

Saudi Arabia’s ‘Sleeping Prince’ Passes Away After Two Decades in Coma

It is a crass act of heartlessness that follows the fuel subsidy removal, resulting in fuel prices above N1000 per liter, and the abrupt soaring of electricity tariffs, tantamount to another form of daily extortion by a government that came to power through democratic processes.

The CNG describes the policy as totally unacceptable extortion burdened on Nigerians who are already suffering from neoliberal exploitations, reflecting the government’s thoughtlessness towards the plight of the downtrodden.

“We believe that this additional charge is completely unjustifiable as Nigerians are already being fleeced through the collection of stamp duty, transfer fees, VAT, and SMS charges in the Nigerian banking sector.

“While we agree that securing our cyber space is paramount, that can only be justified as a corollary to stabilizing the economy and improving the standard of living of Nigerians.

ALSO READ:  Liberia’s Elections Commission honours INEC Chairman

“Even so, the current 0.5% rate is exorbitant in a country that has not fully implemented a N30,000 minimum wage but has reportedly increased the disposable income of members of the National Assembly.”

The CNG recalls that hundreds of billions of naira have been collected and pillaged through stamp duty alone in the last few years without transparent and accountable explanations to Nigerians by the apex bank.

“Therefore, this pronouncement by the CBN, which is capable of becoming another cesspool of corruption, is wholly and roundly rejected, condemned, and censured by all who have the country and its people at heart.

“We regret that the government has already deprived the people of any benefits in healthcare, education, fuel subsidy, and agriculture to the point that millions of Nigerians cannot afford a decent living in any form.

Speaking further, he said CNG observes that Nigerians are already struggling due to the government’s ill-advised policies that have weakened people’s purchasing power.

“We demand that the CBN immediately reverses this draconian and unilateral decision that unjustifiably imposes an extra burden on the masses amidst crushing economic circumstances.

“We call on the national banker, as a matter of principle and transparency, instead of further depleting the lean resources of struggling but resilient Nigerians, to provide a detailed explanation of all the stamp duty charges accrued from the banks in the last 10 years.

Ojimaojo Abubakar

Ojimaojo Abubakar

Abubakar Ojimaojo is a graduate of Mass Communication, political and football analyst currently work at elanzanews.ng as Editor. He pride himself as skilled wordsmith with a passion for delving into contemporary political issues on both national and international scale.

Related Posts

The Silent Giver — Unveiling the Heart of Ilyas Abubakri Olanrewaju

by Nathaniel Irobi
July 19, 2025
0

By Adeyemi Oluwadamilola Rahmanu It’s often said that the loudest people are not always the most impactful — and those...

Veteran Nollywood Actor Tom Njemanze Has Died

Veteran Nollywood Actor Tom Njemanze Has Died

by Nathaniel Irobi
July 19, 2025
0

Veteran Nollywood actor Tom Njemanze has passed away. Reports indicate that he died yesterday after a prolonged battle with prostate...

Saudi Arabia’s ‘Sleeping Prince’ Passes Away After Two Decades in Coma

Saudi Arabia’s ‘Sleeping Prince’ Passes Away After Two Decades in Coma

by Nathaniel Irobi
July 19, 2025
0

Prince Al-Waleed bin Khaled bin Talal Al Saud, affectionately referred to as Saudi Arabia’s 'Sleeping Prince', has sadly passed away...

Recommended

INEC Plans for 2027 Polls

Exercise Ends Sunday as INEC Extends Voter Registration in Anambra by 3 Days

1 day ago
FG Directs Partial Closure of Keffi Bridge

FG Directs Partial Closure of Keffi Bridge

2 days ago

Popular News

  • CDS’s Wife, Shehu Sani, Katung, Other’s To Storm Pastor Mutum’s Ordination, Book Launch

    CDS’s Wife, Shehu Sani, Katung, Other’s To Storm Pastor Mutum’s Ordination, Book Launch

    0 shares
    Share 0 Tweet 0
  • Bwari Council Chairmanship Aspirant, Dara, Dumps Labour Party Over Suspected Foul Play In Primaries

    0 shares
    Share 0 Tweet 0
  • Innoson, Ibeto, Apostle Alozie To Honour Archbishop Emma David At Golden Jubilee Celebration

    0 shares
    Share 0 Tweet 0
  • Kaduna Baptist Church Donates N50,000 Each To 12 Muslims, 4 Retired Pastors

    0 shares
    Share 0 Tweet 0
  • Bannon Tried to Use Iran Strike to Split the GOP Says Former Counselor to Jared Kushner, Eliyahu Okkon, Esq.

    0 shares
    Share 0 Tweet 0

Connect with us

Facebook Instagram Twitter Youtube
Elanza logo

Elanza News is your NO 1 online platform for all news update.
#SayNoToFakeNews
Contact Us

Category

  • Arts & Literature (25)
  • Business (745)
  • Education (217)
  • Entertainment (311)
  • Health (194)
  • National (2,204)
  • News (8,243)
  • Opinion (305)
  • Politics (1,631)
  • Science (15)
  • Security (406)
  • Sports (442)

Newsletter

© 2023 Elanza News - The No 1 online news platform

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Politics
  • Business
  • Science
  • National
  • Entertainment
  • Sports
  • Health

© 2023 Elanza News - The No 1 online news platform