Reps Step Down Motion For Suspension Of Cybersecurity Levy

In the wake of a widespread criticism among Nigerians and Civil Society Organisations (CSO) over the introduction of a contentious cybersecurity levy, the House of Representatives has stepped down a motion calling for the suspension of the levy.

Honourable Manu Soro, who moved a motion on the floor of the house on Wednesday, had explained that the levy was coming at the wrong time, considering the current living conditions of Nigerians.

The lawmaker had argued that the National Security Adviser is a political office, and has no mandate to manage accruals.

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However, the Speaker, Tajudeen Abbas, urged the lawmaker to step down the motion to allow the leadership of the House to deliberate on how best to address the situation.

It would be recalled that the levy’s introduction has sparked widespread criticism among Nigerians and civil society organisations.

The Nigeria Labour Congress (NLC), had described the planned cybersecurity levy introduced by the Central Bank of Nigeria (CBN) on all electronic transactions as another burden on Nigerians.

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According to a circular issued to various financial institutions, including commercial, merchant, non-interest, and payment service banks, the apex bank indicated that the levy would come into effect in two weeks from May 6.

Rejecting the policy, the NLC President, Joe Ajaero, said such deductions directly affect the disposable income of workers, and further diminish the purchasing power of the common citizens.