Cybersecurity levy for businesses only, says SERAP in fresh suit

The Socio-Economic Rights and Accountability Project (SERAP) has asked a court to set aside the directive from the Central Bank of Nigeria, telling commercial banks to deduct a cybersecurity levy based on customers’ transactions with them. In the suit, filed by senior lawyer and human rights crusader, Ebun-Olu Adegboruwa, SERAP argues that the controversial levy is applicable to businesses only.

The body also argues that the CBN circular to banks was “manifestly misleading, extorting and a breach and misinterpretation of the provisions of Section 44, 58 and Second Schedule of the Cybercrimes (Prohibition, Prevention, ETC) (Amendment) Act 2024 and ultra vires the CBN, and therefore is illegal, null and void.” SERAP seeks the court to declare it as so. The body, also, asked the court to restrain the Central Bank of Nigeria and others that may act in its stead from complying with the CBN directive.

READ ALSO: Consumer group demands reversal of cybersecurity levy

The judiciary is yet to fix a date to hear the suit. The introduction of the cybersecurity levy had drawn condemnation from the public. The House of Representatives had urged the CBN to suspend the implementation of the directive. However, the Nigerian Senate approved the levy.

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