Nigerians still skeptical about Presidency’s directive on cybersecurity levy

By Chinwendu Obienyi

Despite the suspension of the implementation of the cybersecurity levy by President Bola Tinubu, bank customers are still skeptical with some stating that this may lead to fracas amongst lawmakers in the National Assembly.

Following the outcry by Nigerians, President Bola Ahmed Tinubu, at the weekend, directed suspension of the implementation of the cybersecurity levy, as provided for in the Cybersecurity Act 2015 recently unveiled by the Central Bank of Nigeria (CBN), to avoid overburdening citizens who were already battling economic hardship.

But Chairman of the Senate Committee on National Security and Intelligence, Senator Shehu Buba, said the cybersecurity levy was not targeted at individuals, but meant for financial institutions and telecoms firms, among others.

Buba’s comments were further corroborated by the President, Global Network for Cybercrime Advisory Council, Segun Olugbile, who stated that President Tinubu does not have the power to call for the suspension of the controversial levy.

“I am still grappling to find out if that actually came from Mr President because the law is not a creation from Mr President but the creation from the National Assembly. I do not also know how far he can intervene in the regulatory function of the CBN. I align with the fact that we have to be very sensitive at this point in time. But the validation of the directive is questionable because the law cannot just be suspended”, Olugbile stated during a programme monitored by Daily Sun.

He further said, “Even the statement I read is not even suspending the law but is seeking that there should be further stakeholder engagement which I think is lacking”

Responding to these comments, a bank customer, Chidalu Onyema, said, “All these comments you just mentioned are comments that could drive uncertainties. I think there has to be better clarification coming from the FG, CBN so that we know what it is being said and what is not said”

Ifeoma Nze, another bank customer said, “These are uncertain times in Nigeria especially for us who are bank customers. We get charged for everything and cannot even get adequate security to fight scammers from accessing our money. These comments can drive uncertainty in the market. Even if it means FG and CBN jointly issuing a statement, that will go a long way to solve whatever confusion”.