The Trade Union Congress (TUC) has issued a stern warning to the Nigerian government, threatening a large-scale protest that could bring the economy to a standstill if the controversial cybersecurity levy introduced by the Central Bank of Nigeria (CBN) is not revoked.

In a statement released on Wednesday, TUC President, Festus Osifo, criticised the recent directive by the CBN imposing a 0.5 per cent cybersecurity levy on nearly all electronic transactions.

This move comes on the heels of heavy criticism from the Nigeria Labour Congress (NLC), which labeled the levy as an additional burden on Nigerians.

The TUC condemned the timing of the levy, highlighting the economic challenges already faced by Nigerians, including the devaluation of the Naira, high petrol prices, and increased electricity tariffs.

Expressing dismay over government policies under the leadership of President Bola Tinubu, the TUC lamented the burden of multiple taxation endured by Nigerian account holders, both from the government and financial institutions.

The union further accused the National Assembly of colluding with elements in the executive to exploit citizens rather than protect them.

TUC emphasised that Nigerians are currently focused on concluding discussions regarding the minimum wage, urging the Federal Government to prioritise this over what it described as a “vexatious policy.”

It demanded the immediate withdrawal of the CBN circular to banks and the cancellation of the levy.

Warning of drastic action if their demands are not met, the TUC declared its readiness to mobilise members, stakeholders, and the masses for an immediate protest, potentially leading to the complete shutdown of the Nigerian economy.

According to the TUC, this levy represents one exploitation too many for the Nigerian populace.

The Senate Chief Whip, Ali Ndume, has voiced his dissatisfaction with the recent renovation work carried out in the Senate Chamber, labeling it as substandard.

Under Order 42 of the Senate Standing Rules, Ndume expressed his concerns, highlighting various issues such as the poor quality of the sound system leading to echoes, inadequate sitting arrangements, and the absence of voting devices.

He remarked, “Since day one, precisely last week Tuesday when we moved into this Chamber that was supposed to have been renovated, there have been complaints here and there.”

In response, the President of the Senate, Godswill Akpabio, clarified that the sitting arrangement complaints among Senators have been largely resolved, noting that the renovation contract was not executed by the 10th National Assembly.

Meanwhile, in legislative proceedings, the Senate passed for the second reading a Bill aimed at repealing the Revenue, Mobilization, Allocation and Fiscal Commission Act of 2004.

The new legislation seeks to grant the Commission enforcement powers for monitoring revenue accruals and disbursement from the federation account, aligning it with the amended 1999 constitution.

Despite the bill’s passage, lawmakers have agreed to subject it to further scrutiny, with plans to revisit its provisions.

The bill has been referred to the Committee on Finance, Appropriations, and Economic and Financial Planning for review, with a report expected within four weeks.

A decade after its inception, the Abuja Centenary City project faces renewed scrutiny as the Senate initiates an investigation into its faltering $18.5 billion public-private sector-led initiative.

In a bid to breathe new life into the ambitious venture, the Senate, under the 10th Assembly, has established an ad-hoc committee chaired by Deputy Senate President, Sen. Barau Jibrin.

The brainchild behind the investigative move, Sen. Yisa Oyelola representing Kwara South, highlighted the initial vision of the project, which was earmarked as a free trade zone under the auspices of the Nigerian Export Processing Zones Authority (NEPZA).

He emphasised the necessity of revisiting the project’s trajectory, given its substantial economic potential.

While some lawmakers advocate for a public-private partnership (PPP) revival strategy, dismissing the notion of direct federal funding, others underscore the need for a self-sustaining financial model.

Sen. ISAH Jibrin, Chairman of the Senate Committee on Customs, emphasised the importance of exploring investment banking avenues to secure the project’s financial future.

To expedite progress, the Senate has tasked the Committee on Federal Capital Territory with investigating the hurdles obstructing the project’s completion.

Specifically, the committee is mandated to scrutinise the existing public-private partnership agreement and propose necessary amendments to facilitate a prompt resolution within a defined timeframe.

Also, the Senate urged the Federal Government to prioritise the project’s revival by extending essential support, resolving regulatory bottlenecks, and addressing any lingering obstacles.