CBN Cyber Security Levy; Relief At Last For Nigerians As House Of Reps Squash Enforcement.

…House Expresses Concern That Circular Issued Can Be Misconstrued By Nigerians.

…Apex Bank To Promptly Retract Previous Circular And Instead Publish A New Directive Aligned With The Acts Provisions.

The House Of Representatives On Thursday Directed The Central Bank Of Nigeria, CBN To Halt The Implementation Of The Cyber Crime Security Levy In Compliance With The Provisions Of The Cyber Crime Act.

This Decision Emanated After the Adoption Of A Motion Of Urgent Public Concern Introduced By Minority Leader Kingsley Chinda Of The People’s Democratic Party (PDP) From Rivers State .

Chinda Said Section 44(2a) Of The CyberCrime Act listed Those To pay the Stipulated fees As GSM And Telecom Companies, Internet Providers, Banks And Other Financial Institutions, Insurance Companies With Stock Exchange. The Lawmaker explained that the circular from the CBN has raised apprehension across Nigeria, Stressing That it has given the impression that the Levy is to be paid by Nigerians in an era when they are still battling with increase in the price of petroleum products, among others.

The House Subsequently asked the Apex Bank to withdraw it’s earlier circular on implementing the Levy immediately and issue another publication in tandem with the provisions of the Act.