The incumbent president of Nigeria His Excellency Bola Ahmed Tinubu has directed the Central Bank of Nigeria ( CBN) to suspend the implementation of the proposed cyber security levy.
Nigerians have welcomed the intervention of the president in his quick listening to the public outcry surrounding the 0.5% cyber security levy.
The apex bank in Nigeria is independent of the president and some people posit that the president lacks the power to change policies of the CBN guided by the enabled laws in Acts.
CBN told banks to start collection of the cyber security levy from 20th May 2024 and until then, it wil be clear if the CBN listened to the President’s directive as CBN officials noted to be acting in line with the laws.
Some human rights activists have also pleaded with the president to go back to the person in charge of the office of the National Security Adviser ( NSA) to ensure the office works in line with the law as the said office shouldn’t be a revenue generation scheme.