Ndume praises suspension of cybersecurity levy, says “Tinubu attentive, responsive, and proactive”

The Chief Whip of the Senate, Senator Ali Ndume, has commended President Bola Tinubu for suspending the 0.5% cybercrime levy that was earlier announced by the Central Bank of Nigeria (CBN).

President Tinubu had directed the suspension of the cybersecurity levy implementation to avoid overburdening citizens already facing economic hardship.

GistReel reports that CBN issued an implementation guideline to all commercial, merchant, non-interest, and payment service banks, other financial institutions, mobile money operators, and payment service providers on the collection and remittance of the national cybersecurity levy.

The levy aims to bolster cybersecurity measures in Nigeria and fund counterterrorism efforts of the federal government. It is not targeted at individuals but rather at financial institutions and telecoms firms, among others.

Reacting, Ndume described President Tinubu as a “listening, responsive, and reactive person” who is concerned with the affairs of citizens.

He also acknowledged that the cybersecurity levy law was hurriedly passed, leading to an oversight of crucial details. Ndume urged Nigerians to review the law and suggest implementable ideas to combat cybercrime.

Ndume stated this while speaking in an interview with Arise Television.

Recall that the cybersecurity levy is to be deducted from all electronic bank transactions. But the policy was met with fierce criticism from Nigerians.

Speaking on the policy, Ndume said, “What the president did by calling for the suspension of the cybersecurity levy, is something I expected from him because I have known him for a very long time and I know him to be a listening, responsive and reactive person. 

“So, I am not surprised that he immediately ordered that it should be suspended. Secondly, it is good that the President has acted and so we will go back to the drawing table to look at the act again. 

“When this administration came on board, the first issue that needed to be addressed was the issue of cybercrime. It is part of the purpose of government as outlined in section 14(2) of our constitution that the purpose of government is to ensure the security and welfare of the citizens.

“Cybercrime is an important part of security and that is why the government was in a hurry to look at the enabling law that was signed in 2015 and then strengthen it and give more powers to the institutions charged with that responsibility to ensure efficiency and address the serious cybercrime ravaging the country and spoiling our reputation and name.”