The House of Representatives has issued a directive to the Central Bank of Nigeria (CBN), urging an immediate halt to the implementation of the cybercrime levy to align with the cybercrime Act’s provisions. Led by Tajudeen Abbas, the House expressed concerns that the CBN’s circular could be misconstrued by Nigerians, contravening section 44 (2a) of the cybercrime Act, which outlines levy payers.
A motion of urgent public importance, presented by Minority Leader Kingsley Chinda (PDP, Rivers) on behalf of the lawmakers, garnered support from the House.
In response, the House called on the CBN to retract its previous circular on the levy’s implementation and issue a new one in accordance with the Act’s guidelines.
Chinda emphasized that section 44(2a) of the cybercrime Act specifically identifies GSM and telecom companies, Internet providers, banks, financial institutions, insurance companies, and the Stock Exchange as levy payers.
He highlighted the widespread concern generated by the CBN circular, suggesting that it implied Nigerians would bear the levy burden at a time when they are grappling with rising fuel prices and other economic challenges.
Furthermore, Chinda noted the varied interpretations of the CBN circular, adding to the confusion surrounding the issue.
