The Socio-Economic Rights and Accountability Project (SERAP) has issued a 48-hour ultimatum to the Federal Government, demanding the withdrawal of the 0.5 per cent cybersecurity levy recently imposed on Nigerians.

In a statement released on its official X platform on Tuesday, SERAP reacted to the Central Bank of Nigeria’s (CBN) directive to commercial banks and other financial institutions to implement the cybersecurity levy.

The Apex bank clarified that the levy would be separately reflected in customers’ accounts as Cybersecurity Levy and applied at the point of electronic transfer origination, then deducted and remitted by the financial institution.

SERAP has threatened to take legal action against the Federal Government should it fail to reverse the directive within the specified 48-hour time-frame.