Tinubu Urges CBN to Postpone Implementation of Cybersecurity Levy

In a significant development, it has been reported by Punch that Bola Tinubu, a prominent political figure, has intervened to delay the rollout of the cybersecurity levy mandated by the Central Bank of Nigeria (CBN).

According to a reliable source quoted by Punch, Tinubu expressed concern for the Nigerian populace, emphasizing President’s sensitivity to public sentiment. Allegedly, Tinubu conveyed the President’s directive to the CBN, urging them to defer the implementation of the levy and conduct a thorough review.

The source elaborated that Tinubu was not involved in the initial directive, which originated in 2015 under the administration of Goodluck Jonathan. The decision to delay the levy’s implementation reflects the President’s commitment to addressing the concerns of citizens and avoiding additional financial strain.

As a result of Tinubu’s intervention, the CBN has temporarily suspended instructions to banks regarding the imposition of charges on customers. The President’s primary objective, as conveyed by the source, is to ensure that policies are not perceived as burdensome to Nigerians, and thus, a comprehensive review of the law has been ordered.

This development underscores the complexities surrounding fiscal policies and highlights the importance of responsiveness to public opinion in governance. Stay tuned for further updates on this evolving situation.