Some Nigerians have taken to social media to react to the new Central Bank of Nigeria (CBN) directive to banks to start charging 0.5% cybersecurity levy on transactions.
The apex bank, in a circular dated May 6, 2024, said the deductions will be put together and paid into the Cybersecurity Fund held by the CBN.
The circular was sent to all commercial, merchant, non-interest and payment service banks as well as mobile money operators and payment service providers.
The CBN also directed that the deductions will take effect in two weeks.
However, Nigerians have continued to express their dissatisfaction over the new levy, which they hope will be reversed.
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A former presidential candidate and rights activist, Omoyele Sowore, condemned the decision of the apex bank and tagged the exercise a move to swindle Nigerians.
“The @cenbank is using the newly amended #cybercrimes Prohibition Act of 2015 to rob Nigerians while the @PoliceNG is using the old Cybercrimes Prohibition Act as a tool to cage journalists. Lawless country #RevolutionNow”
A lawyer and journalist, Richard Akinnola, also described the levy as insensitive.
He wrote on Facebook, “While we banter on the EPL, please don’t forget the new cyber levy you would be paying for certain categories of bank transfers which goes to the office of NSA. Highly insensitive.”
An X user, Felix, claimed President Bola Tinubu is gunning to cripple everyone financially in preparation for his 2027 ambition.
“When he said that he will minimise your spending power y’all thought he was joking. By the time y’all get to 2027 nobody will have the effrontery to confront his second tenure because he must have weakened everyone financially and economically,” he wrote.
Another user, Samfagola, wrote, The president and CBN Gov @DrYemiCardoso should apologize to Nigerians immediately for this mistake they just made by implementing what will suffocate us more. Nigeria can do better than this. If you are not competent then resign in peace.”
