SERAP, Agbakoba, CSOs head to court as FG quietly withdraws cybersecurity levy

• Levy aimed at financial institutions, telecoms, Buba clarifies

Notwithstanding, Socio-Economic Rights and Accountability Project , BudgIT and 136 concerned Nigerians, have sued the Central Bank of Nigeria at the Federal High Court, Lagos, over what they described as its failure to withdraw the circular directing all banks and other financial institutions to deduct a cybersecurity levy from customers’ account.

They are asking the court for a declaration that the CBN circular is contrary to the provisions of the Cybercrimes Act and ultra vires the CBN and therefore is illegal null and void. In the suit filed on behalf of the plaintiffs by their lawyer, Ebun-Olu Adegboruwa, SAN, they argued that the circular is unlawful and an outright violation of the provisions of the Nigerian Constitution and the country’s international obligations.

“The CBN circular is also a blatant violation of Nigerians’ human rights including the right to property guaranteed under Section 44 of the Nigerian Constitution and Article 14 of the African Charter on Human and Peoples’ Rights to which Nigeria is a state party.” Agbakoba said the Federal Government is always broke because most of the ministries, departments and agencies are appropriating and disbursing to themselves money that should go into the federation account.

“It is something that I think ought to be challenged because the Federal Government is now dispossessed of revenue that can be used to build roads, bridges, schools, hospitals and create employment. Very few agencies take 80 per cent of our money.” “While we recognise the importance of cybersecurity measures in safeguarding our digital infrastructure and protecting against cyber threats, we cannot ignore the potential negative impact of this levy on the Nigerian economy, businesses, and consumers.

MEANWHILE, following backlash after he admitted that the cybersecurity levy was a creation of the Senate, Chairman of the Senate Committee on National Security and Intelligence, Shehu Umar Buba, has offered fresh insight, clarifying that the Central Bank of Nigeria policy does not target individuals or ordinary bank customers.

Source: Law Daily Report (lawdailyreport.net)

Cybersecurity Levy ETF NIMASA Police Fund SERAP TETFUND

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