SERAP, BudgIT, 136 Nigerians want court to stop Tinubu govt from imposing cybersecurity levy on Nigerians

Socio-Economic Rights and Accountability Project , BudgIT and 136 concerned Nigerians have filed a lawsuit against the Central Bank of Nigeria “over its failure to withdraw the patently unlawful ‘Circular’ directing all banks and other financial institutions to deduct from customers’ account a ‘cybersecurity levy’.”

The Plaintiffs are asking the court for “a declaration that the CBN Circular dated 6th May 2024 directing all banks and other financial institutions to deduct from customers’ accounts a cybersecurity levy is contrary to the provisions of the Cybercrimes Act and ultra vires the CBN, and therefore is illegal null and void.”

“The provisions of the Cybercrimes Act on payment of cybersecurity levy strictly apply only to businesses listed in the Second Schedule to the Act. These provisions make no reference to bank customers, contrary to the CBN Circular to all banks and other financial institutions.” “Any deduction of cybersecurity levy from Nigerians’ accounts would be contrary to the provisions of section 44 of the Cybercrimes Act 2015 as amended by the Cybercrimes Prohibition, Prevention etc) Act 2024 and ultra vires the CBN, and therefore illegal, null and void.”

“The Plaintiffs are customers of commercial banks in Nigeria with accounts domiciled with many commercial banks in Nigeria. The CBN is the statutory agency charged with the overall control and administration of the monetary and financial sector policies of the Federal Government.”

Source: Law Daily Report (lawdailyreport.net)

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