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Tinubu Directs CBN to Postpone Cybersecurity Levy Implementation

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In a recent development reported by Punch, former President Tinubu has intervened, directing the Central Bank of Nigeria (CBN) to delay the rollout of the cybersecurity levy. This directive comes amidst growing concerns from Nigerians about the potential financial strain such a levy could impose.

According to a source quoted by The Voice News Media, Tinubu emphasized the importance of considering the impact on the populace before implementing any policy. He expressed the current administration’s commitment to alleviating burdens on the people and ensuring policies are in line with their best interests.

“The President is sensitive to what Nigerians feel. And he will not want to proceed with implementing a policy that adds to the burden of the people,” the source stated.

The decision to postpone the cybersecurity levy reflects Tinubu’s desire to prioritize the welfare of Nigerians. Despite the law being enacted in 2015 under the previous administration, Tinubu aims to review its implications thoroughly before proceeding with implementation.

“It is only being implemented now. You know he (Tinubu) was not around when that directive was being circulated. And he does not want to present his government as being insensitive,” the source added.

Tinubu’s intervention underscores his administration’s commitment to responsible governance and inclusive decision-making. By ordering a review of the cybersecurity levy, he seeks to ensure that policies align with the needs and concerns of the Nigerian populace.

“The President is sensitive. His goal is not to just tax Nigerians like that. That is not his intention. So, he has ordered a review of that law,” the source emphasized.

The CBN has complied with the directive, temporarily halting instructions to banks to initiate charges related to the cybersecurity levy. This pause allows for a comprehensive evaluation of the levy’s implications and its potential effects on the Nigerian economy and citizens.

As Tinubu’s administration continues to prioritize the welfare of Nigerians, the decision to postpone the cybersecurity levy reflects a commitment to responsible governance and proactive policymaking.

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