The House of Representatives has directed the Central Bank of Nigeria (CBN) to suspend the implementation of the controversial cybersecurity levy with immediate effect. This decision was made following a motion presented by Minority Leader Kingsley Chinda on behalf of all members during a plenary session.
The cybersecurity levy, which was introduced by the CBN on May 6, 2024, in accordance with the Cybercrime Act, has been embroiled in controversy since its inception. The House expressed concerns about the clarity of the circular issued by the CBN, fearing potential misunderstandings among Nigerians. Furthermore, it highlighted that the directive contradicts the principles outlined in Section 44(2a) of the Cybercrime Act, which specifies the entities responsible for levy payment.
The House urged the CBN to take swift action, retract its earlier circular on the levy’s enforcement, and issue a new directive that aligns with the provisions of the Act. This move aims to ensure clarity and adherence to the law, avoiding any potential confusion or misuse of the cybersecurity levy.
LV