Abuja, May 12, 2024 -The Socio-Economic Rights and Accountability Project (SERAP), BudgIT, and 136 other Nigerians have filed a lawsuit against the Central Bank of Nigeria (CBN) over the imposition of cybersecurity levy.
The CBN, had last week, directed banks to implement a 0.5 percent levy on all electronic transactions and to remit the proceeds to the National Cybersecurity Fund.
It relied on the Cybercrime Act 2015 (As Amended) for imposing the levy which is to take effect from Monday, May 20.
In the suit number FHC/L/CS/822/2024 filed last Friday at the Federal High Court, Lagos, the plaintiffs are asking the court to determine whether the CBN Circular dated 6th May 2024, directing financial institutions to deduct from customers’ accounts a cybersecurity levy is unlawful and therefore ultra vires the CBN.
The plaintiffs are also asking the court to determine “whether the CBN Circular dated 6th May 2024, directing financial institutions to deduct from customers’ accounts a cybersecurity levy and section 44(2)(a) of the Cybercrimes Act are not in breach of Sections 14(2), 44(1) and 162(1) of the Nigerian Constitution 1999 (As Amended), and therefore unconstitutional, null, and void.
The plaintiffs are asking the court for “a declaration that the CBN Circular dated 6th May 2024 directing all banks and other financial institutions to deduct from customers’ accounts a cybersecurity levy is contrary to the provisions of the Cybercrimes Act and ultra vires the CBN, and therefore is illegal null and void.”
The plaintiffs are also seeking “an order of interim injunction restraining the CBN, its office, agents, privies, assigns, or any other persons acting on its instructions from enforcing the Circular dated 6th May 2024, pending the hearing and determination of the motion on notice filed contemporaneously in this suit.
The suit was filed on behalf of the plaintiffs by their lawyer Ebun-Olu Adegboruwa.
No date has been fixed for the hearing of the suit. (GBN)
