SHOCKER!! Tinubu Breaks Silence Over Cyber Security Levy, Send Strong Message To CBN; See Surprising Thing He Asked Them To Do
President Bola Tinubu has urged the Central Bank of Nigeria (CBN) to halt the enforcement of the contentious cybersecurity levy policy and called for a comprehensive reassessment.
This directive comes in response to mounting concerns raised by various quarters, including the recent call by the House of Representatives for the withdrawal of the CBN’s circular mandating a 0.5 percent cybersecurity levy on electronic transactions across the nation.
The CBN’s circular, issued on May 6, 2024, instructed all financial institutions, including banks, mobile money operators, and payment service providers, to implement the cybersecurity levy as stipulated in the Cybercrime (Prohibition, Prevention, etc) (Amendment) Act 2024.
Sources familiar with President Tinubu’s stance on the matter have revealed that he is deeply averse to exacerbating the economic strain on Nigerians through additional levies.
According to a senior presidency official who opted to remain anonymous, “The President is acutely attuned to the sentiments of Nigerians and is committed to alleviating rather than compounding their financial burdens.
Furthermore, another presidency official highlighted certain inconsistencies surrounding the implementation of the cybersecurity levy, noting that the legislation predates the Tinubu administration and was enacted during the tenure of former President Goodluck Jonathan in 2015.
Emphasizing Tinubu’s desire to govern with sensitivity, the official remarked, “Given that President Tinubu was not in office when this directive was conceived, he is keen on ensuring that his administration is not perceived as callous or indifferent to the plight of the people.
Consequently, the President has instructed the CBN to pause the implementation of the cybersecurity levy and undertake a thorough review of the legislation.
The aim is to ascertain its relevance in the current socio-economic landscape and explore alternative measures to bolster cybersecurity without unduly burdening Nigerian citizens. This decisive action underscores President Tinubu’s commitment to governance that prioritizes the welfare and interests of the populace.
Source
Naija News!