According to Ali Ndume “If I had known that the cost would be transferred to Nigerians, I would not agree”

According to Channels TV, Senate Chief Whip Senator Ali Ndume expressed regret for his support of the Cyber Crime Act and stated that he would have opposed it in the Senate if he had realized that Nigerians would be affected by the act. He emphasized the need to align budgetary strategies to the status of the economy and made it plain that he opposed high taxes and levies. CONTINUE FULL READING>>>>>

Ndume emphasised the significance of taking into account the impact on regular residents while noting the gravity of cybercrime and the need for legislative improvements. He made it clear that he was against the Cyber Crime Act modification in its entirety, especially the tax that was placed on Nigerians.

The Central Bank of Nigeria (CBN) announced a 0.5 percent cybersecurity charge on all banking transactions in a circular sent to a number of financial institutions on May 6, 2024, including Commercial, Merchant, Non-Interest, and Payment service banks.

According to the CBN, this tax was imposed as a result of the Cyber Crime (Prohibition, Prevention) Amendment Act of 2024 being passed into law. Notably, this Act was repealed in 2015 and 2018 before being brought back this year. The National Cyber Security Fund will be credited with the levy’s proceeds.

It’s terribly unfortunate, he added in a Channels TV interview. I have always supported taking a close look at the people that we rule and represent—that is, the nation’s citizens.

You do recall that I attempted to oppose the communication service tax, but I was unsuccessful. People cannot be burdened with taxes if their income is not rising. I don’t belong to the group that is in favour of all these taxes. I was in favour of the cybercrime act amendment, but not in detail. We have problems with cybercrime, and the government needs to make improvements to the Cybercrime Act.

“And that is what I interpret from the amendment. I accept responsibility when necessary. If I had known that the cost would be borne by Nigerians, I would not have agreed.” Said Ali Ndume.CONTINUE FULL READING>>>>>