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Nairaland Forum / Nairaland / General / Politics / Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana (19520 Views)
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Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by Oilwell(m): 9:16pm On May 09 |
Human rights lawyer, Femi Falana, SAN, has explained that the Central Bank of Nigeria misinterpreted the provisions of the Cybercrime (Prohibition, Prevention, etc.) Amendment Act 2024 as individual customers are not required by law to pay the 0.05% levy. https://saharareporters.com/2024/05/09/individuals-not-required-law-pay-005-levy-central-bank-should-apologise-nigerians-falana 45 Likes 10 Shares
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Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by Zooposki(f): 9:30pm On May 09 |
Exactly what I said a few days ago and someone insulted me. ππΎππΎ 190 Likes 9 Shares
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Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by Blossomcresty(m): 9:40pm On May 09 |
Exactly! Tinubu and it's cronies re just looking for ways to milk money out of the masses. Even the 50k FG grant don turn audio ... 131 Likes 8 Shares |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by bet9ja(m): 10:00pm On May 09 |
We have legalise criminality. Cooperate scam by the whole CBN. 90 Likes 3 Shares |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by Oilwell(m): 10:08am On May 10 |
Blossomcresty: Exactly 44 Likes |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by Beautifulday: 10:40am On May 10 |
Zooposki: No vex. Him no see the bill. Nah hear say him dey do. 22 Likes 1 Share |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by ConfidentialDoc: 10:54am On May 10 |
Zooposki: Well I'm glad you're vindicated 68 Likes 1 Share |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by yarimo(m): 11:23am On May 10 |
Zooposki:most of them are kids with free bonus data to type rubbish 145 Likes 4 Shares |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by LadyExcellency: 11:34am On May 10 |
Zooposki: Supporting APC destroys logic and reason and if not checked blackens the conscience. Stop engaging them. They lack what makes us humans. Everything to them is politics, region, religion, or ethnicity. No empathy for everyday Nigerians. 87 Likes 1 Share |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by jmoore(m): 12:18pm On May 10 |
Chai! I knew it. Tinubu hired thieves to steal from Nigerians. This is the highest scam ever in the history of Nigeria 49 Likes 1 Share |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by jmoore(m): 12:19pm On May 10 |
nlfpmod |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by CelestineNelson: 1:28pm On May 10 |
The Reality of this Cybersecurity Levy is that the funds will be administered by the NSA ( National Security Adviser ) and according to NIBSS (Nigeria Inter-Bank Settlement System Plc) last year the money realized by e-transactions was 600 Trillion Naira. 0.5% (300 trillion) of the money will be remitted to the National Cyber Security funds according to the Cyber Crime Prohibition and Provision Act of 2015, Signed by Former President Goodluck Ebele Jonathan. That's for 2023 alone. How is this money spent? Note: The money is to be kept by the CBN but The power to issue what is called authority to incur an expenditure (who to withdraw and when to withdraw the money ) is not even in the hands of the President. Is in the hands of the National Security Adviser. Now imagine a situation, where such an amount of money is in the hands of only one man, who is not subjected to any Financial Audit, Security funds are not subjected to any audit in other words if you award 10 billion from our budget to Security, how the money is spent is not any body's business. No safety Net, the auditor general of the federation can not request for explanations. If the President is subjected to checks and balances by the National Assembly NSA is not subjected to any Checks. And more importantly, the timing is wrong for this law, because of the current economic crisis. 12 Likes 1 Share |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by richiemcgold: 1:29pm On May 10 |
Even if individuals will pay, it is going to be an indirect tax 4 Likes |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by Melagros(m): 1:29pm On May 10 |
COMRADES, as long as this policy is meant to enrich the national security advertiser and co, I don't think that the central bank will reverse its decision 1 Like |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by Brendaniel: 1:29pm On May 10 |
Hmmmm 1 Like 2 Shares |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by PlasmaTV: 1:30pm On May 10 |
A senseless bunch of lawmakers. 13 Likes |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by Millimann: 1:31pm On May 10 |
k |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by PureNigerDeltan(m): 1:31pm On May 10 |
Zooposki: That person who insulted you we suppose catch am beatπ 35 Likes |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by Ecos(m): 1:32pm On May 10 |
![]() Vagabond, thieves, hooligans, criminals, fraudsters, cocain sniffers and agberos in power If you are still supporting these idiots, your life will be worse than Nigeria predicament now 27 Likes 2 Shares |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by Tijani009: 1:32pm On May 10 |
Blossomcresty: Audio on mute 5 Likes |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by yewit37486: 1:32pm On May 10 |
Businesses will still pass it on to the consumers. Indirectly, individuals end up paying. 22 Likes |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by okechuks22: 1:32pm On May 10 |
yarimo:and are emilokon urchins that doesn't have brain 19 Likes 1 Share |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by vonnelixir: 1:32pm On May 10 |
This 0.5% should be resisted else it will cause a serious challenge in Nigeria. We should not keep quiet about dz shiit 10 Likes |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by valentineuwakwe(m): 1:32pm On May 10 |
Trust the CBN and the Nigerian government...they will find a way to twist the cybercrime law and make sure individuals pay for it! 11 Likes |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by Brendaniel: 1:33pm On May 10 |
Zooposki: The question is why did the CBN give directive to charge all accounts? That is stealing and that is what Falana is challenging.... richiemcgold: Does it change anything if money will leave your account at the end of the day to pay for something that someone might end up stealing from his office.... 12 Likes 1 Share |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by yesloaded: 1:34pm On May 10 |
The said cyber security is a joke taken too far You expect account owner to lose 5k naira on each 1m transfer? Highest amount you pay as COT on business account is 1k naira which means savings account owner now spent X5 of highest amount charge as COT ok corporate accounts Cyber security levy must be cancelled completely 23 Likes 1 Share |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by gbengene1234(m): 1:34pm On May 10 |
I'm so happy to hear this 4 Likes |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by obaidan: 1:34pm On May 10 |
You want to tax people to protect the cyber space. Nigerians dun vote for the one wey pass Dia power 23 Likes 2 Shares |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by just2endowed: 1:36pm On May 10 |
Zooposki: ![]() 8 Likes 1 Share |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by Greattha: 1:36pm On May 10 |
Granted....but the question is this; are you and I or every other Nigerian not customers to one if not all of these listed businesses? Who do you suppose woud bear the brunt of the payment? The companies? Cost of doing business will increae again and they'll push it down to the customer. Perhaps the timing is just off...not now that we're looking for investors. Sides, the SAN saying this can't stop execution Zooposki: 7 Likes 1 Share |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by GardenOfGod(m): 1:37pm On May 10 |
Falana is Obidients ![]() 6 Likes |
Re: Individuals Not Required By Law To Pay 0.05% Levy; CBN Should Apologise - Falana by vibratingpenis: 1:38pm On May 10 |
OmokoMo |
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