Tinubu orders review of cybersecurity levy, postpones introduction
By Sabiu Abdullahi
President Bola Ahmed Tinubu has instructed the Central Bank of Nigeria (CBN) to postpone the introduction of the cybersecurity levy.
The source revealed that the President is “sensitive to what Nigerians feel” and does not want to proceed with implementing a policy that adds to the burden of the people.
Therefore, he has asked the CBN to “hold off on that policy and review things again.”
The cybersecurity levy was enacted in 2015 and signed by former President Goodluck Jonathan, but its implementation was scheduled to begin during Tinubu’s administration.
However, the President has decided to review the law to ensure that his government is not seen as “insensitive” to the needs of Nigerians.
The source stated, “The President’s goal is not to just tax Nigerians like that. That is not his intention.”
As a result, the CBN has held off on instructing banks to start charging customers the cybersecurity levy.
This development is seen as a welcome relief to Nigerians who were concerned about the additional financial burden the levy would have imposed.
The review of the cybersecurity levy is expected to take into account the concerns of stakeholders and ensure that any future implementation is done in a way that is fair and considerate of the needs of Nigerians.