BREAKING: House of Representatives Orders CBN to Halt Cybersecurity Levy Enforcement


The House of Representatives has directed the Central Bank of Nigeria (CBN) to immediately suspend the implementation of the controversial cybersecurity levy.

The decision came following a motion presented by Minority Leader Kingsley Chinda on behalf of all members during a session.

Introduced by the apex bank on May 6, 2024, in line with the cybercrime Act, the cybersecurity levy has stirred controversy since its inception.

The House expressed apprehension regarding the clarity of the circular issued by the CBN, fearing potential misunderstanding among Nigerians.

Furthermore, it emphasized that the directive contradicts the principles delineated in section 44(2a) of the Cybercrime Act concerning the entities responsible for levy payment.

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Urging swift action, the House called upon the CBN to retract its earlier circular on the levy’s enforcement and instead issue a new directive in accordance with the Act’s stipulations.

Awaiting more details…