Halt Implementation Of Cyber Security Levy – Reps To CBN

The House of Representatives has urged the Central Bank of Nigeria, CBN, to halt the proposed implementation of the Cyber Security Levy.

In an urgent motion of public importance by the House Minority leader, Mr Kingsley Chinda, the House expressed concern that this levy is coming at a time Nigerian citizens are battling with the hardship occasioned by the fuel subsidy removal, electricity subsidy removal, high inflation and other policies of the government.

The Lawmaker noted that since the release of the circular by CBN, for the proposed implementation of the Cyber Security Levy there has been apprehension among Nigerians.

Chinda explained that if urgent measure was not taken to halt the proposed Cyber Security Levy, it would be implemented in error.

Adopting the motion the House directed the CBN to withdraw the circular and issue another circular in line with the letters and spirit of the Cybercrimes (Amendment) Act, 2024.

The motion was referred to Committees on Banking Regulation and Banking Institution for further legislative actions.

Oduyemi Odumade, Edited By Grace Namiji