While the Senate argued that the levy was not punitive, the House called on the CBN to halt its implementation because of the apprehension created by the announcement. Also, the Nigerian Economic Summit Group criticised the levy , saying it should be paid by high net-worth companies and individuals. On Wednesday, the Presidency explained that it was being proposed to tackle cybercrimes and terrorism. It said that Nigeria lost over N273 billion to cybercrimes alone last year.
It added that there was no cause for alarm because the Cybercrime Act 2024 has numerous exemptions to protect and relieve ordinary citizens. The statement partly reads: “The Cybercrimes Act has provisions for imposing a cybersecurity levy since its enactment, but the vagueness of Section 44 led to different interpretations until the 2024 amendments.JUST IN: Senate passes bill to increase salary of CJN to N5.39m, justices N4.21m
“They also seek to realign and empower the country to combat the inadequate funding and disruptive effects of cyber threats on national security and critical economic infrastructures. He assured that the levy would bolster the nation’s capacity to evaluate, execute, upgrade, and fortify the security of national critical economic infrastructure.
Source: Tech Daily Report (techdailyreport.net)
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