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  • Business - Economy
  • Updated: May 14, 2024

Cybersecurity levy: NGO urges Nigerians not to criticise CBN unduly

Cybersecurity levy: NGO urges Nigerians not to criticise CBN

Nigerians have been urged by the Transparency Advocacy for Development Initiative, TADI, a Non-Governmental Organisation, an NGO to support the Central Bank of Nigeria, CBN, to deliver on its mandate

Yomi David, the Executive Director of TADI, made the appeal in an interview with the News Agency of Nigeria on Tuesday in Abuja.

David said that the call became necessary, because of the level of vitriol directed towards the CBN over the issue of the now-suspended Cybersecurity Levy

He explained that the Apex Bank’s action was undertaken in compliance with a law passed by the National Assembly, and a directive from the Office of the National Security Adviser.

“While the President has since directed the suspension of the levy in response to public concerns, TADI is deeply concerned by the level of vitriol directed towards the CBN.

“It is crucial to acknowledge that the CBN, as the apex regulatory body in the Nigerian financial system, is tasked with managing numerous complex issues, including inflation and price control, amidst challenging economic circumstances.

“In fulfilling its mandate, the CBN must navigate various policy directives and regulatory frameworks established by the government.

“We believe that the appropriate channels for addressing concerns regarding the cybersecurity levy are through dialogue with the National Assembly and the Office of the National Security Adviser.

“While TADI respects the right of citizens to express their opinions, we urge the public to refrain from undue criticism and allow the CBN to focus on its crucial role in safeguarding the stability of our economy,’’ David said.

He stressed that constructive engagement with relevant government institutions was essential to address concerns effectively, and ensure that policies align with the interests of all stakeholders.

The NGO maintained that it recognised the importance of public engagement and accountability in governance, adding that stakeholders should support the CBN in fulfilling its mandate to manage inflation and stabilise prices for the benefit of all Nigerians.

“Let us work together to promote transparency, accountability and responsible governance in our nation,’’ David said. 

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