Comedian Seyi Law has taken to social media to knock the Tinubu administration over the new cyber security levy.

The Central Bank of Nigeria (CBN) had issued a directive to all banks and financial institutions to implement a cybersecurity levy on banking transactions.

This new levy, set at 0.5% of the value of all electronic transactions, was in response to the escalating concerns over cyber threats and follows the guidelines of the recently enacted Cybercrime (Prohibition, Prevention, etc.) (Amendment) Act 2024.

Reacting to the development, Seyi Law wrote:

“I hate when government agencies don’t speak up to the understanding of the citizens and allow wrong narratives to fester before tackling it. Cybersecurity level, according to the act, is 0.005%, and different figures from 0.5% to 3% are being thrown around.

“A 0.5% charge in the Nigeria of today is in itself too much punishment on Nigerians. Are we trying to discourage banking transactions again and encourage cash keeping? @cenbank should revisit this abeg.

“Stamp duty is something, and now this. It is unacceptable. @NGRPresident @officialABAT, let the poor breathe. When will the new minimum wage be announced and implemented? Some of your ministers need to look for another job. One year is here and we are counting”.