Coalition of Civil Society Organisations under the aegis of Forum for Good Governance in Nigeria (FGGN) have called upon the Federal Government (FG) to reintroduce the Cyber Security Levy.Â
This levy, previously revoked after public outcry, is seen by CSOs as critical for enhancing the security of financial operations across the country.
In the communique jointly signed by the National Coordinator and Secretary;Comrade Abraham Douglas and Comrade Bala Galadima Ikara,members of the CSOs across 28 States of Nigeria, they argued that the benefits of reintroducing the levy outweigh previous concerns that led to its cancellation.
They emphasized the necessity of a secure electronic transaction environment to foster economic growth and promote digital financial inclusion nationwide.
Reinstating the Cyber Security Levy, according to CSOs, aligns Nigeria with global standards in cybersecurity, potentially boosting the country’s international reputation and attracting much-needed foreign investment.
Originally tied to the Cybercrime (Prohibition, Prevention, etc) (Amendment) Act 2024, the levy was intended to finance the National Cybersecurity Fund (NCF), managed by the Office of the National Security Adviser (ONSA).
Highlighting security concerns, CSOs harped on the levy’s role in funding robust cybersecurity infrastructure.
“This infrastructure is crucial for combating cyber threats, protecting critical national infrastructure, and deterring cyber crimes that could jeopardize financial institutions and customer data.
“Economically, the levy is viewed as essential for national security and economic stability. It aims to prevent cyber funding of terrorism while safeguarding the integrity of financial systems and protecting consumers”, the statement read.
