The National Security Adviser (NSA), Mallam Nuhu Ribadu, has directed all law enforcement agencies, regulators, businesses and stakeholders to begin the full implementation and enforcement of the Cybercrimes (Prohibition, Prevention, etc) Amendment Act 2024.
According to a statement released by the Head-Strategic Communications Office of the NSA, Zakari Mijinyawa, Ribadu said all operationalization of the full implementation of the Cybercrimes Law has been addressed.
As a result, the NSA said a 0.5 percent levy on all electronic transactions valued by the specified businesses in the Second Schedule to the Cybercrimes Act would be paid and credited to the National Cybercrime Fund.
“Arising from the high-level African International Counter Terrorism Meeting in Abuja between April 22 and 23, 2024, African leaders stressed the urgent need for the improved deployment of greater support and resources towards strengthening cybersecurity activities in Africa and taking concrete steps to prevent the use of social media and other platforms by terrorists and organised criminal groups.
In view of the need to secure Nigeria’s digital space and safeguard national security and economic interests, as well as deploy additional resources to counter terrorism and violent extremism as provided in section 44(5) of the Cybercrimes Act, all law enforcement agencies, regulators, businesses and stakeholders have been communicated by this office to put in place mechanisms for the full implementation and enforcement of the Cybercrimes (Prohibition, Prevention, Etc) Amendment Act 2024.
By this amendment, all impediments to the full operationalization of the Cybercrimes law have been addressed.
Consequently, a levy of 0.5 per cent of all electronic transactions value by the specified businesses in the Second Schedule to the Act shall be paid and credited into the National Cybercrime Fund.”
It would be recalled that on July 6, 2022. Nigeria joined 66 other countries that have signed and ratified the Budapest Convention on Cybercrime to enhance international cooperation and provide common platform and procedural tools for efficient and safe cyberspace under section 41(2) (a) of the Cybercrime Act 2015.
Madukwe B. Nwabuisi is an accomplished journalist renown for his fearless reporting style and extensive expertise in the field. He is an investigative journalist, who has established himself as a kamikaze reporter.
