As a result, the NSA said a levy of 0.5 per cent of all electronic transactions valued by the specified businesses in the Second Schedule to Cybercrimes Act, would be paid and credited to the National Cybercrime Fund.
The National Security Adviser, Nuhu Ribadu, has called for the full implementation of the Cybercrimes (Prohibition, Prevention, etc.) Amendment Act 2024, including the operationalisation of the National Cybersecurity Fund by all regulators and businesses specified in the second schedule of the Act.
In a statement signed by the Head, Strategic Communication Office of the National Security Adviser, Zakari Mijinyawa, said the directive was part of efforts to secure Nigeria’s Critical National Information Infrastructure (CNII), counter-terrorism and violent extremism, strengthen national security, and protect its economic interests.
On July 6, 2022, Nigeria joined 66 other countries that had signed and ratified the Budapest Convention on Cybercrime to enhance international cooperation, provide a common platform and procedural tools for efficient, and safe cyberspace under Section 41(2)(a) of the Cybercrime Act 2015, requiring conformity of Nigerian cybercrime and cybersecurity laws and policies with regional and international standards.
The statement added that this was further emphasised by one of the resolutions reached during the High-Level African International Counter Terrorism Meeting, held in Abuja between April 22 and 23, 2024.
The resolution called 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.