The House of Representatives has intervened to halt the Central Bank of Nigeria (CBN)’s recent implementation of a cybercrime levy, citing non-compliance with the cybercrime Act.
During a session on Thursday, the House took issue with a CBN circular that, according to lawmakers, could be misinterpreted by the public and contradicts the stipulations of section 44(2a) of the cybercrime Act.
The urgency of the matter was underscored by a motion of “urgent public importance” introduced by Minority Leader Kingsley Chinda (PDP, Rivers).
The motion, which was adopted unanimously by the lawmakers, criticized the CBN’s circular for potentially broadening the scope of levy payers beyond what the cybercrime Act specifies.
According to Section 44(2a) of the Act, entities obligated to pay the levy include GSM and telecom companies, Internet providers, banks and other financial institutions, insurance companies, and stock exchanges.
The concern raised by Chinda and other lawmakers is that the CBN’s interpretation could mislead Nigerians into thinking that the levy applies more broadly, especially at a time when citizens are already grappling with rising fuel prices and other economic pressures.
The House has directed the CBN to withdraw its contentious circular and issue a new one that aligns strictly with the legal provisions of the cybercrime Act.
This directive aims to clarify who is responsible for the levy and prevent any further public confusion or anxiety related to additional financial burdens.
