Comrade (Engr.) Festus Osifo, President of the Trade Union Congress (TUC), issued a forceful statement against the escalating cost of living and food inflation in Nigeria.
Highlighting the dire situation facing Nigerians, Osifo criticizes what he describes as an intentional scheme to siphon off citizens’ earnings.
The focus for Nigerians at this juncture, he asserts, should be on finalizing discussions related to the minimum wage, rather than imposing policies that further diminish the public’s disposable income.
Such measures, according to Osifo, effectively undermine any potential benefits that a revised minimum wage might offer.
In a pronounced call to action, Comrade Osifo demands that the government direct the Central Bank of Nigeria to retract the circular concerning the new levy immediately.
He states “The Trade Union Congress of Nigeria (TUC) has received with a rude shock the recent directive by the Central Bank of Nigeria (CBN) in a circular to banks imposing a 0.5 percent cybersecurity levy on almost all electronic transactions. It is indeed illogical that this is coming at a time when Nigerians are grappling with the high cost of living that is imposed by the devaluation of the Naira, hyper hike in the cost of Petrol, supersonic increment in the cost of electricity tariff, etc”
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Osifo’s message is clear: the continuous financial strain on Nigerians must end, as the populace can no longer tolerate these levels of exploitation.
He warns that a failure to do so would compel the TUC to rally its members and the wider populace to protest, a move which could escalate into a comprehensive shutdown of the nation’s economy.
The union urges the federal government to mandate the CBN to cancel the levy immediately, emphasizing that the focus should instead be on finalizing minimum wage discussions. Failing to address these concerns, the TUC warns of mobilizing its members and the public towards a protest aimed at completely shutting down the economy.
Issued on May 8th, 2024, the statement from the TUC President concludes with a potent maxim: “Enough is enough; Nigerians must breathe! These extortions must stop.”
