House of Reps withdraw motion for suspension of cybersecurity levy

The House of Representatives has withdrawn the motion that called for the suspension of the newly introduced cybersecurity levy.

The levy, set at 0.5% of all electronic transactions, was introduced by the Central Bank of Nigeria (CBN).

The levy was met with immediate disapproval among many Nigerians.

Manu Soro, who introduced the motion, argued that the levy was coming at the wrong time, considering the current living conditions of Nigerians.

Soro had argued that the National Security Adviser is a political office, and has no mandate to manage accruals.

Speaker Tajudeen Abbas, however, urged Soro to withdraw the motion to allow the leadership of the House to deliberate on how best to address the situation.

The Nigeria Labour Congress (NLC) President, Joe Ajaero, called it another burden on Nigerians.

Ajaero said such deductions directly affect the disposable income of workers and further diminish the purchasing power of common citizens.