Seyi Law argued that the new policy is likely to discourage the culture of saving as Nigerians are likely to revert to cash transactions
By Kehinde Okeowo
Popular stand-up comedian, Oluwaseyitan Aletile, better known as Seyi Law, has tackled President Bola Tinubu for allowing the Central Bank of Nigeria (CBN) to introduce the “cybersecurity levy”.
TheNiche had earlier reported that the apex bank on Monday directed banks operating in the country to start charging a cybersecurity levy on transactions.
“Following the enactment of the Cybercrime (Prohibition, Prevention, etc) (amendment) Act 2024 and under the provision of Section 44 (2)(a) of the Act, a levy of 0.5 per cent (0.005) equivalent to a half per cent of all electronic transactions value by the business specified in the Second Schedule of the Act, is to be remitted to the National Cybersecurity Fund which shall be administered by the Office of the National Security Adviser,” the circular read.
Reacting to the pronouncement, Seyi Law condemned the introduction of
the 0.5 per cent cybersecurity levy by
the CBN, saying it was “unacceptable”.
He went on to note the ambiguity in the percentage to be charged, urging the apex bank to revisit the policy.
He further said the new policy is likely to discourage the culture of saving as Nigerians are likely to revert to cash transactions.
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Tagging President Bola Tinubu, the comic actor told him to allow the masses “breathe,” querying when the new minimum wage would be announced and implemented.
He added that some of his ministers are not performing, stressing that one year into the administration and there is nothing much on ground.
Speaking via his X handle, Seyi Law tweeted: “I hate when government agencies don’t speak up to the understanding of the citizens and allow wrong narratives to fester before tackling it. Cybersecurity level, according to the act, is 0.005%, and different figures from 0.5% to 3% are being thrown around.
“A 0.5% charge in the Nigeria of today is in itself too much punishment on Nigerians. Are we trying to discourage banking transactions again and encourage cash keeping? @cenbank should revisit this abeg.
“Stamp duty is something, and now this. It is unacceptable. @NGRPresident @officialABAT, let the poor breathe. When will the new minimum wage be announced and implemented? Some of your ministers need to look for another job. One year is here and we are counting.”