Cybersecurity Levy: ICT Expert Pushes for Transparency

An Information and Communication Technology (ICT) expert, Jide Awe is urging the government to prioritize transparency and collaboration over implementing the recently announced 0.5% Cybersecurity Levy.

While acknowledging the levy’s legal basis under the Cybercrime Prohibition, Prevention Act (amended 2024), Awe expressed concern about its potential impact on Nigerians facing economic hardship. He highlighted the “slew of banking fees” already straining consumers and businesses, and questioned the timing of this additional financial burden.

Awe, a prominent voice in Nigeria’s Science, Technology, and Innovation (STI) landscape, proposes a more collaborative approach. He suggests working with stakeholders to find a balance between strengthening cybersecurity and mitigating economic challenges.

Transparency is paramount, according to Awe. He emphasizes the need for clear communication regarding the levy’s use and regular evaluations to ensure its effectiveness in bolstering cybersecurity.

According to him, the intention of the levy appears to be to provide funding for cybersecurity, following digital adoption and growth nationwide, “the ultimate goal, however, should be to improve the level of trust in the digital economy and the cashless environment”, he said.

Furthermore, Awe calls for meaningful stakeholder engagement, acknowledging the current lack of “buy-in” due to the levy’s implementation strategy. He argues that legal backing, while important, is just one piece of the puzzle. Successful implementation requires careful management to avoid discouraging cashless transactions and hindering technological progress.

Offering a glimmer of hope, Awe points out exemptions for specific transactions, such as social welfare programs and educational payments. He reiterates his call for the government to collaborate with the public. Awe emphasizes that achieving a secure digital future requires more than just legal measures; it necessitates working together with the judiciary, stakeholders, and citizens.

Jide Awe’s intervention highlights the need for a nuanced approach to cybersecurity in Nigeria. Balancing the need for robust defenses with economic realities and public trust will be crucial in the country’s digital transformation.