Socio-Economic Rights and Accountability Project (SERAP) has issued a stern ultimatum to the Federal Government, demanding the reversal of the 0.5 per cent cybersecurity levy recently imposed by the Central Bank of Nigeria (CBN).
The NGO has set a 48-hour deadline for the government to comply, or face legal repercussions.
In a statement released via its Twitter handle, @SERAPNigeria, the organization condemned what it deemed as an unjust imposition by the CBN. Referring to the directive as “grossly unlawful,” SERAP urged the government to withdraw the levy immediately.
“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 We’ll see in court if the directive is not withdrawn within 48 hours,” tweeted SERAP.
The CBN’s directive, outlined in a circular to all commercial, merchant, non-interest, and payment service banks, mandates the implementation of the cybersecurity levy on transactions. This levy is purportedly in compliance with the Cybercrimes (Prohibition, Prevention, Etc.) Act 2015.
According to the circular, the levy’s implementation is scheduled to commence two weeks from its issuance date. The move by SERAP highlights growing concerns over the government’s approach to cybersecurity funding and its potential impact on the populace. As the deadline approaches, the Federal Government faces mounting pressure to address SERAP’s demands and avert potential legal action.
