Ayokunle Warns Tinubu: ‘Multiple Taxation Will Cause More Suffering’ (Details)

Ayokunle Warns Tinubu: ‘Multiple Taxation Will Cause More Suffering’ (Details)

A former President of the Christian Association of Nigeria (CAN), Dr. Samson Ayokunle, has expressed his concerns regarding the issue of multiple taxations imposed on struggling Nigerians by the incumbent government.

During his appearance on the socio-political program Inside Sources with Laolu Akande, which aired on Channels Television on Friday, the former president of the Nigerian Baptist Convention appealed to President Bola Tinubu to explore other rich sides of the country instead of taxing the citizens. on every side.

In his plea, Ayokunle emphasized the importance of revitalizing the country’s economy and encouraging investments in the agriculture and mining sectors.

He highlighted the untapped potential and valuable resources within these sectors, waiting to be harnessed for the nation’s benefit.

By focusing on these areas, Ayokunle noted that President Tinubu has the opportunity to unlock the goldmines that can contribute to Nigeria’s growth and development.

“Let’s delve into other aspects of our economy. Nigeria is rich, let’s explore, not just taxing, taxing. If you tax people, people will die,” Ayokunle said on the show.

Ireporteronline reports that Ayokunle’s response comes after Tinubu’s administration drew the ire of a large section of Nigerians by introducing new taxes as citizens continue to grapple with the worst cost-of-living crisis in decades.

It could be recalled that the Central Bank of Nigeria (CBN) issued a memorandum last month, instructing all commercial banks to enforce a 0.5% levy on specific electronic transactions.

This levy allocates funds to the Office of the National Security Adviser, specifically to enhance cyber security measures.

It is important to note that the levy is imposed on the individual initiating the transaction, rather than the recipient.

“The levy shall be applied at the point of electronic transfer origination, then deducted and remitted by the financial institution. The deducted amount shall be reflected in the customer’s account with the narration, Cybersecurity Levy,” the memo read, adding that it was in line with the new cybercrime law signed by the president in February.

The levy was, however, later suspended after the outcry that greeted its introduction.