Peter Obi, the Presidential candidate of the Labour party in the 2023 general election, has strongly criticized the Federal government’s decision to introduce the Cybersecurity levy.
In a statement released on May 8, Obi expressed his dismay, stating that the move is further evidence of the government’s focus on extracting revenue from a struggling economy rather than fostering its recovery and growth.
According to Obi, policies like the Cybersecurity levy will not only deepen poverty among citizens but also diminish the competitiveness of the country’s economic landscape.
The Central Bank of Nigeria recently mandated banks to impose a 0.5% cybersecurity levy on certain customer transactions, effective within two weeks.
The collected funds are slated to be remitted to the National Cybersecurity Fund (NCF), overseen by the Office of the National Security Adviser.
Obi’s criticism extended to the role of the Office of the National Security Adviser, which he accused of morphing into a revenue-generating entity rather than focusing on its core responsibilities.
