SERAP Urges Tinubu To Order CBN To Stop 0.5% Charge On Electronic Banking transactions


SERAP, a civil society organisation, has urged President Bola Tinubu to use his “good offices to immediately direct the Central Bank of Nigeria (CBN) to withdraw the cybersecurity levy on Nigerians as it patently violates the provisions of the Nigerian Constitution 1999 [as amended] and the country’s international human rights obligations and commitments.”

In a statement on Tuesday, the anti-corruption advocacy group called for the review of the amended law that the CBN seeks to implement with the new directive.

News reports on Monday, indicated that the CBN had directed Nigerian Banks to start charging a 0.5 per cent cybersecurity levy on online transactions. The CBN said the directive was to implement the amended Cybercrime Act.

In its statement, SERAP urged President Tinubu “to direct the Attorney General of the Federation and Minister of Justice, Mr. Lateef Fagbemi, SAN to immediately prepare and present a bill to amend section 44 and other repressive provisions of the Cybercrimes Act 2024.”