SERAP gives Nigerian govt 48 hours to reverse CBN’s 0.5% cybersecurity levy or face court action
The Socio-Economic Rights and Accountability Project (SERAP) has issued a warning to the Federal Government to reverse the 0.5 per cent cybersecurity levy imposed by the Central Bank of Nigeria (CBN).
SERAP also threatened to embark on a legal action against the government if it failed to reverse the levy within a 48-hour timeframe.
The organisation said this Tuesday via its Twitter handle, calling for the immediate reversal of what it regarded as levy ‘imposition’.
Tweeting with the handle @SERAPNigeria, the organisation said: “The Tinubu administration must immediately withdraw the grossly unlawful CBN directive to implement section 44 of the Cybercrime Act 2024, which imposes a 0.5% ‘cybersecurity levy’ on Nigerians.
“We’ll see in court if the directive is not withdrawn within 48 hours.”
It will be recalled that the CBN had ordered banks operating in the country to start charging a cybersecurity levy on transactions.
A circular from the apex bank on Monday disclosed that the implementation of the levy would start two weeks from then.
The circular was directed to all commercial, merchant, non-interest and payment service banks, among others, revealing that it was a follow-up on an earlier letter dated June 25, 2018 (Ref: BPS/DIR/GEN/CIR/05/008) and October 5, 2018 (Ref: BSD/DIR/GEN/LAB/11/023), respectively, on compliance with the Cybercrimes (Prohibition, Prevention, Etc.) Act 2015.
SERAP gives Nigerian govt 48 hours to reverse CBN’s 0.5% cybersecurity levy or face court action
The Socio-Economic Rights and Accountability Project (SERAP) has issued a warning to the Federal Government to reverse the 0.5 per cent cybersecurity levy imposed by the Central Bank of Nigeria (CBN).
SERAP also threatened to embark on a legal action against the government if it failed to reverse the levy within a 48-hour timeframe.
The organisation said this Tuesday via its Twitter handle, calling for the immediate reversal of what it regarded as levy ‘imposition’.
Tweeting with the handle @SERAPNigeria, the organisation said: “The Tinubu administration must immediately withdraw the grossly unlawful CBN directive to implement section 44 of the Cybercrime Act 2024, which imposes a 0.5% ‘cybersecurity levy’ on Nigerians.
“We’ll see in court if the directive is not withdrawn within 48 hours.”
It will be recalled that the CBN had ordered banks operating in the country to start charging a cybersecurity levy on transactions.
A circular from the apex bank on Monday disclosed that the implementation of the levy would start two weeks from then.
The circular was directed to all commercial, merchant, non-interest and payment service banks, among others, revealing that it was a follow-up on an earlier letter dated June 25, 2018 (Ref: BPS/DIR/GEN/CIR/05/008) and October 5, 2018 (Ref: BSD/DIR/GEN/LAB/11/023), respectively, on compliance with the Cybercrimes (Prohibition, Prevention, Etc.) Act 2015.
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