Abuja, NIGERIA — The Senate Chief Whip, Senator Ali Ndume, apologised for supporting the Cyber Crime Act and said he would have opposed it in the Senate if he had known that Nigerians would bear the consequences of the legislation.
He said in a Channels TV interview that he did not support high taxes or levies, highlighting the necessity of matching budgetary policies to the state of the economy.
Ndume emphasised the significance of taking into account the impact on regular residents while noting the gravity of cybercrime and the need for legislative improvements. He made it clear that he was against the Cyber Crime Act modification in its entirety, especially the tax that was placed on Nigerians.
The Central Bank of Nigeria (CBN) announced a 0.5 percent cybersecurity charge on all banking transactions in a circular sent to a number of financial institutions on May 6, 2024, including Commercial, Merchant, Non-Interest, and Payment service banks.
According to the CBN, this tax was imposed as a result of the Cyber Crime (Prohibition, Prevention) Amendment Act of 2024 being passed into law. Notably, this Act was repealed in 2015 and 2018 before being brought back this year. The National Cyber Security Fund will be credited with the levy’s proceeds.
It’s terribly unfortunate, he added, “I have always supported taking a close look at the people that we rule and represent—that is, the nation’s citizens.
“You do recall that I attempted to oppose the communication service tax, but I was unsuccessful. People cannot be burdened with taxes if their income is not rising. I don’t belong to the group that is in favour of all these taxes. I was in favour of the cybercrime act amendment, but not in detail. We have problems with cybercrime, and the government needs to make improvements to the Cybercrime Act.
“And that is what I interpret from the amendment. I accept responsibility when necessary. If I had known that the cost would be borne by Nigerians, I would not have agreed.” Said Ali Ndume.