SERAP Calls on President Tinubu to Halt CBN’s 0.5% Cybersecurity Levy on Electronic Transactions

Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to intervene and direct the Central Bank of Nigeria (CBN) to withdraw the cybersecurity levy on Nigerians, asserting that it violates constitutional provisions and international human rights commitments.

In their statement released on Tuesday, SERAP highlighted the necessity for a review of the amended law underlying CBN’s directive, which imposes a 0.5% cybersecurity levy on online transactions, citing the amended Cybercrime Act.

SERAP’s statement further urged President Tinubu to task the Attorney General of the Federation and Minister of Justice, Mr. Lateef Fagbemi, SAN, to draft a bill aimed at amending the contentious sections of the Cybercrimes Act 2024.

According to the statement signed by SERAP’s deputy director Kolawole Oluwadare, the administration has been given a 48-hour ultimatum to withdraw the directive and take necessary steps to align with constitutional provisions and international human rights obligations.

SERAP emphasized the unlawfulness of Section 44(8) of the Cybercrimes Act, which penalizes non-payment of the cybersecurity levy, and threatened legal action should the administration fail to comply.

The organization stressed the urgency for the repeal of repressive provisions within the Cybercrimes Act and highlighted the inconsistency of such provisions with the principles of the Nigerian Constitution, particularly regarding the government’s obligation to ensure the security and welfare of its citizens.

SERAP’s call for action aligns with the principles of upholding constitutional rights and ensuring government accountability, urging President Tinubu to uphold the rule of law and act in the public interest.