The National Association Of Nigerian Students, NANS, has called upon the Central Bank of Nigeria, CBN, to educate the general public on the proposed cybersecurity levy amidst the ongoing controversy.
A circular issued by the CBN instructed banks to impose a 0.5% charge on specific transactions, sparking a wave of debates and objections from citizens amid the country’s economic challenges.
In a statement released by Comrade Lucky Emonefe, President of NANS, on Friday, the association supported the CBN’s decision, emphasizing that it is vital in addressing cybersecurity threats faced within the Nigerian cyberspace.
Emonefe urged the CBN to communicate with stakeholders and the public to clarify the purpose behind the levy, stating, “Recent events, such as the illicit financial activities on cryptocurrency platforms like Binance, highlight the cyber vulnerabilities that exist, posing risks to our economic system, national security, and citizen privacy.”
He further stressed, “Therefore, we urge the CBN to engage with the public and stakeholders to provide a clearer understanding of the true objectives of the bill.”
“It is crucial to dispel any misinterpretations circulating in certain media outlets, especially regarding the misconception that the Cybersecurity Levy is primarily a revenue generator for the Office of the National Security Adviser, ONSA.”