House Of Representatives Suspends Implementation Of Cybersecurity Levy

The House of Representatives has directed the Central Bank of Nigeria (CBN) to immediately suspend the cybercrime levy by the provisions of the Cybercrime Act.

The House said Thursday that the CBN’s circular was prone to misinterpretation by Nigerians because it contradicted the spirit and letter of section 44(2a) of the Cybercrime Act, which specifies who is expected to pay the levy, according to the Daily Post.

It approved a motion of urgent public importance proposed by Minority Leader Kingsley Chinda (PDP, Rivers) on behalf of all legislators.

The House requested that the Central Bank immediately withdraw its previous circular on the levy’s implementation and issue a new circular by the Act’s provisions.

According to Chinda, section 44(2a) of the Cybercrime Act lists those who must pay the stipulated fees as GSM and telecom companies, Internet providers, banks and other financial institutions, insurance companies, and stock exchanges.

He explained that the CBN circular has caused concern throughout the country because it gives the impression that the levy is to be paid by Nigerians at a time when they are still struggling with rising petroleum prices, among other things.
The lawmaker went on to say that the CBN circular has been interpreted in various ways.