The Socio-Economic Rights and Accountability Project, SERAP, has given the federal government led Bola Tinubu to revoke the controversial 0.5 percent cyber security levy imposed on bank customers by the Central Bank of Nigeria.
SERAP made this statement through its official X handle on Tuesday, and also called for a reversal of this levy claiming it is unfair, arbitrary and violations of citizen’s right
The non-profit making organization tweep @SERAPNigeria stated, “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.”
The Central Bank of Nigeria had on Monday ordered banks operating in the country to start charging a security levy on transactions.
A circular from the apex bank made available online 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.
The circular revealed 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.
However, SERAP has given the Nigerian Government a 48 hour ultimatum to repeal the 0.5 percent cyber security levy, warning that if government fails to comply within the timeframe a legal action will be initiated against them.
SERAP warns “We’ll see in court if the directive is not withdrawn within 48 hours.”
The organization is determined to hold the government accountable for this controversial decision, and is prepared to pursue every avenue possible to ensure justice is served.
