The House of Representatives has called for the suspension of the Central Bank of Nigeria’s (CBN) policy on the implementation of the Cybercrime Act, citing misinterpretation of the law. The House, in a motion led by Kingsley Chinda and 39 others, declared that the CBN’s circular mandating banks to charge 0.5% on certain transactions is incorrect and places an undue burden on bank customers.
According to Chinda, the Cybercrime Act does not require bank customers to pay the cybercrime levy, but rather, it is the responsibility of specific companies such as GSM service providers, telecommunication companies, internet service providers, banks, financial institutions, insurance companies, and the Nigerian Stock Exchange.
The House directed the CBN to withdraw the ambiguous circular and issue a new one that aligns with the law. Additionally, the House Committees on Banking Regulations and Banking and other Ancillary Institutions were tasked with guiding the CBN to ensure proper implementation of the law.
The CBN’s policy has generated significant public outcry, with many Nigerians viewing it as an unnecessary burden in the current economic climate.
Lol, these people don’t even know what they are doing.
I swear.. they should kuku just kill us
My dear,they know what they are doing o
Looking for a way to extort money from people
CBN wan finish us for this country with this their cyber security levy issue
Not only cbn our law makers are also as guilty as the cbn
Abeg ooo make them talk to those CBN well
It’s still the same thing.
The companies they mandate to pay that fee will still get it from us
This people are just there to waste nigeria resources and also pass useless laws
CBN and doings, make una sha try dey do us jeje.
They just unleashed unnecessary burdens on the customers
They don’t even know what they are doing
Is it not better to remove the cybercrime levy completely abi they don’t know not everyone understand the English because it is big grammar
Yes oooo.
Because if we look at many things now ….the bank charges is something else…they still want to add cyber security stuff to it
The FG should pls find something to do about it…how do they want we common man to survive this hardship
Like they care about the common man sef . This our government are just after their own profit
They sha wan kill us finish for this country 🥺
All this one they are doing,they should better decide on the good of the country
Crazy set of people
God should intervene oo