Aliyu Gebi, a former member of the House of Representatives, has argued that the Cyber Security Levy is crucial for the National Security Agency (NSA) to combat insecurity, drawing comparisons to past events like the removal of fuel subsidy under Jonathan’s administration, which sparked protests due to poor timing, as reported by Channels TV.
He expressed concerns about the timing of implementing the electricity tariff hike but recognized its potential necessity.
Gebi emphasized the urgent need to address security challenges, likening them to festering wounds requiring prompt and effective action.
On Monday, the Central Bank of Nigeria (CBN) issued a circular to various financial institutions, including Commercial, Merchant, Non-Interest, and Payment service banks, announcing a 0.5 percent cybersecurity levy on all banking transactions.
The CBN cited the enactment of the Cyber Crime (Prohibition, Prevention) Amendment Act of 2024 as the basis for the levy. It’s noteworthy that the Act was repealed in 2015 and 2018 before being reintroduced this year.
He said in an interview with Channels TV, ”The security space is a tapestry of interconnectedness. One thing leads to another and if you don’t do the right thing from the beginning, you will pay the pride later in the future.
I did not agree with the tariff on electricity. It may be the right thing to be done but is the timing right, it’s the question to be answered.
When Jonathan removed subsidy, we protested even though we knew it was the right thing. What we fought against was the methodology and the timing.
And the fact that consensus was not built, there was no sensitization and there was no safety net put in place. And the same thing that is happening right now, there are some bandits that have to be ripped out.”
It is the amendment that enforces to operationalize the Cyber Security Component. And it wasn’t operational before now because of the security challenges.
The NSA’s function at that time was to stabilize the North East and win the war. Now, we have won the War and we are about to win the peace. We cannot win the peace in the North East when billions of naira disappear overnight.……See More
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