The Labour Party (LP) presidential candidate for the 2023 election, Peter Obi, has criticized the Federal Government for the recent cybersecurity levy directive from the Central Bank of Nigeria (CBN).

‘You’re More Interested In Milking A Dying Economy’ – Peter Obi tackles FG Over Cybersecurity Levy

Afric Showbiz stated that the Central Bank of Nigeria (CBN) had instructed all financial institutions, such as commercial banks, merchant banks, non-interest banks, payment service banks, and mobile money operators, to apply a 0.5% cybersecurity levy on all electronic transactions.

The action aligns with the updated Cybercrime (Prohibition, Prevention, etc.) Act 2024. According to a circular, the directive mandates the levy’s application at the beginning of electronic transfers. The deducted sum will appear in the customer’s account as a “Cybersecurity Levy.” Peter Obi, in a statement using his X handle, criticized the introduction of the levy during a challenging economic period, suggesting that the government prioritizes exploiting a struggling economy over fostering its revival and development.

The ex-Governor of Anambra State highlighted that the Cybersecurity Levy contradicts the Government’s pledge to lower taxes and simplify the tax structure. Peter Obi further stated that measures like the Cybersecurity Levy push citizens into poverty and diminish the country’s economic competitiveness.

He said, “The introduction of yet another tax, in the form of Cybersecurity Levy, on Nigerians who are already suffering severe economic distress is further proof that the government is more interested in milking a dying economy instead of nurturing it to recovery and growth. This does not only amount to multiple taxation on banking transactions, which are already subject to various other taxes including stamp duties but negates the Government’s avowed commitment to reduce the number of taxes and streamline the tax system.

“The imposition of a Cybersecurity Levy on bank transactions is particularly sad given that the tax is on the trading capital of businesses and not on their profit hence will further erode whatever is left of their remaining capital, after the impact of the Naira devaluation and high inflation rate. It is inconceivable to expect the suffering citizens of Nigeria to separately fund all activities of the government.

“Policies such as this not only impoverish the citizens but make the country’s economic environment less competitive. At a time when the government should be reducing taxes to curb inflation, the government is instead introducing new taxes. And when did the office of the NSA become a revenue collecting centre? And why should that purely national security office receive returns on a specific tax as stated in the new cybersecurity law?”

The Enugu Zonal Command of the Economic And Financial Crime Commission (EFCC) has apprehended Nweke Daniel Kelechi and Iroude Chibuzor for their involvement in alleged currency racketeering amounting to N850,000.00.

EFCC arrests two individuals for currency racketeering in Enugu

The arrest was carried out by the Special Task Force of the EFCC attached to the Enugu Zonal Command on Sunday, May 26, 2024, near United Bank for Africa (UBA), ESBS, Enugu State, following extensive surveillance and intelligence gathering.

Initially, Chibuzor was detained during a sting operation, which led to the discovery that he was operating under the authorization of Kelechi to distribute new Naira notes.

The Economic And Financial Crime Commission (EFCC) has allegedly detained a soon-to-be groom in Ondo State.

Man Arrested by EFCC in Ondo Just Hours Before His Wedding Causes Confusion

Reports from Afric Showbiz indicate that anti-corruption agents conducted raids on various clubs and lounges in Akure, the state capital, targeting individuals suspected of involvement in online fraud.

During the operation, which occurred in the early hours of Saturday, over 50 people were apprehended by EFCC officials, including the groom-to-be who was celebrating his bachelor’s eve at a popular club in Akure.

The EFCC personnel arrived in multiple vehicles and reportedly discharged gunshots into the air during the raid.

Apart from making arrests, the EFCC seized several items such as vehicles, laptops, and smartphones.

According to a source who shared information with the Daily Post, the operation was extensive and targeted individuals engaging in fraudulent activities.

“We were all having fun when we suddenly saw the EFCC people entering the nightclubs. Then they tear-gassed everyone, beating them up and arresting them.

“They don’t care who they are, as they shot tear gas canisters inside one of the clubs.

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“They also went away with a groom and his friends at a club; he was there for his bash eve, so sad as they profiled everyone as an Internet fraudster.”

The Centenary Celebration Committee of Dennis Memorial Grammar School (DMGS), Onitsha, announced that the cause of the collapse of its five-storey Centenary Building is still under investigation.

DMGS School Authority: Uncertainty Remains Regarding Cause of Anambra Building Collapse

The School, owned by the Anglican Church, was constructing the building to commemorate its 100th anniversary when the incident occurred. Following the collapse last week, three individuals were rescued from the debris, with one later succumbing to injuries.

Dr. Chijioke Ojji, the director of operations for the centenary celebration, stated that the committee would coordinate with the deceased worker’s family for funeral arrangements.

According to Ojji, the collapse happened on June 12, 2024, at around 1:00 am, resulting in the unfortunate death of Gideon Ezeigwe.

“We extend our condolences to his family and they have our support in dealing with this tragic loss.

“The cause of the collapse is still unknown and is under investigation by the Standards Organisation of Nigeria (SON), the Council for the Regulation of Engineering in Nigeria (COREN), the Anambra State Physical Planning Board (ASPPB), and the Nigerian Police.”

About 20 travellers have reportedly been kidnapped along the Sagamu-Ijebu-Ode Expressway by gunmen who attacked the commercial bus they boarded on Sunday, 30th June, at about 9 pm.

Gunmen abduct 20 Travelers at Sagamu-Ijebu-Ode expressway.

The gunmen were said to have ambushed the travellers between Sagamu Area Command of the Nigeria Police and Ilisan township. Confirming the incident to the press, the chairman of the Ilisan Development Council, Wemmy Osude, said the information reaching him suggests that the kidnapping incident occurred between the Area Command and Ilisan City Gate.

“A resident of Ilisan (name unconfirmed) was reportedly shot in the knee and is receiving medical attention at Babcock Teaching Hospital. Other victims were taken into the bush. While waiting for additional information, please contact your loved ones who may be plying that road at about this time to be cautious.

I have spoken to the Sagamu Area Commander about this incident, and hopefully, we trust that all the security agents will go after these criminals and rescue these people.” he said

The incident has not been confirmed by the state police command yet.