Cybersecurity Levy: Proof that the government is more interested in milking a dying economy instead of nurturing it to recovery – Peter Obi
Labour Party’s Presidential candidate in the 2023 general election, Peter Obi, has strongly criticized the Federal government’s decision to implement the Cybersecurity levy.
In a statement issued today, May 8, Obi expressed his disapproval, stating that the “implementation of the Cybersecurity Levy is further evidence that the government prioritizes exploiting a struggling economy rather than fostering its recovery and development.”
Obi contended that such policies would not only exacerbate poverty among citizens but also diminish the country’s economic competitiveness.
The Central Bank of Nigeria instructed banks on Monday, May 6, to impose a 0.5% cybersecurity levy on certain customer transactions. The apex bank announced that the policy would come into effect in two weeks, with the funds collected to be channeled to the National Cybersecurity Fund (NCF) managed by the Office of the National Security Adviser.
