President Bola Tinubu has been issued a 48-hour ultimatum by the Socio-Economic Rights and Accountability Project (SERAP) to direct the Central Bank of Nigeria (CBN) to withdraw the 0.5 percent cybersecurity levy on all electronic transfers.
The ultimatum comes in response to a CBN directive mandating banks and financial institutions to implement the levy, News About Nigeria reports.
When implemented, the levy would see customers paying N250 for every N50,000 transfer, N500 for N100,000, and N5,000 for N1 million.
This has led to outrage from the populace, with individuals and civil society organisations making their opinions of the new levy known.
Reacting, SERAP has stated that the levy violates the Nigerian Constitution and international human rights obligations, and has called on Tinubu to stop Nuhu Ribadu and the Office of the National Security Adviser (NSA) from implementing Section 44 and other repressive provisions of the Cybercrimes Act 2024.
The organisation has also requested that the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, prepare and present a bill to amend the repressive provisions of the Cybercrimes Act to bring them in line with the Nigerian Constitution and international human rights obligations.
In a statement signed by SERAP Deputy Director, Kolawole Oluwadare, the organisation stated that criminalising the non-payment of the cybersecurity levy by Nigerians under Section 44(8) is unlawful and unconstitutional.
The statement read in part, “If the unlawful CBN directive is not withdrawn and appropriate steps are not taken to amend the repressive provisions of the Cybercrimes Act within 48 hours, SERAP shall consider appropriate legal actions to compel the Tinubu administration to comply with our request in the public interest.”
The statement further said that withdrawing the unlawful CBN directive and repealing the repressive provisions of the Cybercrimes Act 2024 would be consistent with President Tinubu’s constitutional oath of office, which requires public officials to uphold the provisions of the constitution, the rule of law, and abstain from all improper acts.
The organisation noted that the repressive provisions of the Cybercrimes Act 2024 are inconsistent and incompatible with public trust and the overall objectives of the Constitution.
SERAP reminded the government that Section 14(2)(b) of the Nigerian Constitution of 1999 (as amended) provides that the security and welfare of the people shall be the primary purpose of government.
The organisation urged the government to prioritise the welfare of Nigerians and withdraw the unlawful cybersecurity levy directive.
The CBN had directed banks and financial institutions to implement the 0.5 percent cybersecurity levy on electronic transfers based on Section 44(2)(a) of the Cybercrimes Act 2024, which purportedly imposes a levy of 0.005 (equivalent to a half percent) of all electronic transactions valued by businesses specified in the second schedule of the Act.
The money is to be remitted to the National Cybersecurity Fund (NCF), which shall be administered by the Office of the National Security Adviser (ONSA).
