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0.5% Cybersecurity Levy: “It is unacceptable” – Comedian Seyi Law calls out President Tinubu over CBN latest directive to banks

0.5% Cybersecurity Levy: “It is unacceptable” – Comedian Seyi Law calls out President Tinubu over CBN latest directive to banks

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Popular Nigerian comedian Seyi Law in a recent post on social media calls out President Tinubu over the Central Bank of Nigeria’s (CBN) latest directive to banks.

Recall GbExtra Blog in a previous post disclosed that CBN orders banks to charge 0.5% cybersecurity levy on all electronic transactions.

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This means the Central Bank of Nigeria mandates Nigerians to incorporate a cybersecurity levy into all electronic transactions starting May 20th, 2024.

According to the information released, if someone sends N1000, the sender and receiver will be charged N5.

For N10,000,the sender and the receiver will be charged N50. For N100,000, the sender would be deducted N500, while the receiver will be deducted N50 for stamp duty.

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For N1M, the sender will be deducted N5,000, the receiver will be deducted N50. For N10M, the sum of N50K will be deducted from the account of the sender, while N50 would be removed from the account of the receiver as stamp duty.

See below;

0.5% Cybersecurity Levy: “It is unacceptable” – Comedian Seyi Law calls out President Tinubu over CBN latest directive to banks

This is unfair – Nigerians cry out as CBN orders banks to charge 0.5% cybersecurity levy on all electronic transactions

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Taking to his official page on X today, May 7th, 2024, Seyi Law who is a supporter of President Tinubu roars over CBN’s latest directive to banks.

According to him, the 0.5% cybersecurity Levy is unacceptable stressing that a 0.5% charge is a too much punishment for Nigerians of today.

The comedian boldly called out President Tinubu as he told him to allow the poor to breathe adding that the president needed to implement the new minimum wage.

Speaking further, Seyi Law said that he likes Tinubu doesn’t mean that he should agree with all his policies. He told the president to look for competent ministers as these present ones need to look for another job.

Seyi Law tweeted; “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.”

He added; “Why do some id#ots think that because you support a person, you must therefore accept all his policies? Yes, the cybersecurity level is from ammended act, I presume, but I don’t think this is the time for the implementation. If there is anything that should be paramount to the government, it should be the new minimum wage.

Some of you are crying, una never see anything. My brother, na your papa and mama dey collect minimum wage. E no reach where I dey. The truth is the supporters of Mr. President are better Nigerians because we criticise when it is needed.”

See his posts below (swipe to view);

0.5% Cybersecurity Levy: “It is unacceptable” – Comedian Seyi Law calls out President Tinubu over CBN latest directive to banks

See reactions below;

sweetest__babyyysophie: Those people that voted this administration…. you people will ask God for bread, he will give u rock.

heisrvdy: if only yall allowed peter obi to do his thing.

1804davinchi: I heard from a reliable sauce that the levy will be excluded from APC members and voters🌚.

opeyemifamakin: Does this apply to all those digital Banks? E be like say Banks for Nigeria don dey inhale vegetable cooked by Ghanaian chefs.

mz_esheza: See problem on ground and you people are discussing wizkid and Davido that are already billionaires!!! Smh.

wealthworld_1: Levy and tax is all Tinubu knows. I don’t know what all of you were expecting. 🤦🏾‍♂️ a leopard can never change it spot.

nkiruka_joy001: Pos charges 😂😂😂.

poshest_hope: It’s like they want to use the citizens to repay the loans they’re owing. God Abeg o.

iamzaddyace_: Shey b tinubu deh work abi? Gbogbo Eyin ti e dibo fun man yen Olohun lo ma ba ti tiyin je one by one.

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