HomeViews and ReviewsCybersecurity 5% Tax Only Backed By Military Decree

Cybersecurity 5% Tax Only Backed By Military Decree

By

Serah Ibrahim

I’ve been seeing a lot online as regards this ILLEGAL 0.5% Cybersecurity Tax and I need to clarify a few.

To start with, there is no standing law on NSA Tax.

Except the National Security Agency Decree of 1986 and it is illegal to operate any decree in a democratic govt .

Again, there is NO LAW that creates the Office of the National Security Adviser, it is only a position of appointment, so, there’s no basis for the Cybercrime Act, 2024 as amended, to mandate this deduction of 0.5% on bank transactions.

In addition, it is quite appalling that even government officials as appointed by the FG have zero idea of the law that they are supporting to hold, Bayo Onanuga for instance, who do not even know primary school mathematics that equates 0.5% and 0.005, is screaming in support of a law that further impoverish the Nigerian people, who already have never gotten any benefit from the taxes being paid, especially on bank transactions.

Finally, charging ₦5 on every ₦1,000 transaction

₦50 on ₦10,000

₦500 for ₦100,000

₦5,000 for ₦1,000,000

₦50,000 for ₦10,000,000

Note: ON EVERY TRANSACTION

In a period of severe economy downcline, is not just WICKED but unnecessarily despicable.

But also what else do you expect from a man who openly told you he wants to reduce your purchasing power, increase your tax net and slow down the economy. He said it, and you people brainlessly cheered rather than rebuke him.

Everything is destroying, just like how he told you he would destroy it.

Election choices have consequences.

SERAH IBRAHIM POSTED THIS ON X TWITTER… PUBLISHED HERE UNEDITED

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