The Presidency yesterday said the cybersecurity levy was introduced to tackle cybercrimes and terrorism.
It said the nation lost over N273billion (approximately $762million) to cybercrime alone in 2022.
It also claimed that the same levy is in place in Ghana and Rwanda.
Opposition to the policy grew yesterday, with the Trade Union Congress (TUC), ex-Labour Party (LP) presidential candidate Peter Obi, and the Coalition of Northern Groups (CNG) rejecting it.
A top source, who spoke in confidence with our correspondent, said the Federal Government “cannot be blind to the grievous effects of cybercrimes on the nation’s economy.”
The source made the clarification against the backdrop of the mounting criticisms on the inclusion of Cybersecurity Fund in the Cybercrime Act 2024.
The source said: “The Cybercrime Act 2024 is meant to protect the nation’s economy from collapse; it is not targeted at the masses. Those criticizing the Act do not have the full knowledge of the rationale behind