Cybersecurity Levy not Targeted at Individuals – Senate Buba
In response to recent concerns surrounding the Central Bank of Nigeria's (CBN) announcement of a cybersecurity levy, Senator Shehu Umar Buba, Chairman of the Senate Committee on National Security and Intelligence, representing the APC Bauchi South constituency, clarified that the levy is not targeted at individuals or ordinary bank customers. Rather, it is aimed explicitly at financial institutions and telecom companies, identified as the most vulnerable sectors to financial crimes and cyber fraud, with the goal of enhancing cybersecurity measures and national security in the country.
Speaking from Abuja in a statement released on Sunday, Senator Buba, who sponsored the amendment bill, highlighted the specificity of the Cybercrime Act regarding the entities required to pay the levy, em...