Peter Obi Criticizes Implementation of Cyber Security Levy
Raising concerns about the newly enforced cyber security levy, Peter Obi, the Labour Party's presidential candidate for 2023, expressed his disapproval, citing its potential negative impact on the economy.
In a statement released by Yunusa Tanko, his spokesperson in Awka on Wednesday, Obi emphasized the need to focus on nurturing and revitalizing the economy, as he believes that introducing additional taxes amidst the prevailing challenges in the country will further destabilize the economy.
Observing that the cyber levy targets the trading capital of businesses rather than their profits, Obi argued that this would deplete the capital base of organizations. This, he pointed out, leads to a scenario of multiple taxation on banking transactions, which are already subjected to various ot...