As technology evolves in Nigeria, there is a compelling need to review the legal framework that regulates the sector to curb the growing cyberspace-related crimes.
Though the Cybercrime s Act 2015 was enacted to serve that purpose and was recently amended, a lot of grey areas in its provisions still need to be reviewed to achieve effectiveness, NGOZI EGENUKA reports.
This great innovation, because of its highly unregulated features, has also increased cyber crimes where fraudulent people exchange money without being traced. But despite this, there are still grey areas. For instance, a provision of the Act mandates the CBN to demand all financial institutions to set aside 00.5 per cent as a cybersecurity levy for all electronic transactions. The deduction is to be remitted to the National Cybersecurity Fund , which shall be administered by the Office of the National Security Adviser .
She continued: “There is no detailed framework on how the collected levies will be utilised. So, transparency and accountability mechanisms should be established to ensure that funds are effectively used for cybersecurity enhancements, and the provision for direct collection of levies may conflict with the constitutional requirement for all federal revenues to be deposited into the Federation Account. This legal inconsistency needs to be addressed.
He explained that the Act primarily focuses on criminalising cyber offences rather than proactively securing digital investments, which reveals a fundamental flaw in the country’s cybercrime and cybersecurity legal framework. He further noted that the lack of clear definitions in the Act for key terms like cybercrime, cyberwarfare, and cyberterrorism can create ambiguities that hinder effective enforcement and protection efforts, stating that clear definitions would help in setting precise legal parameters and standards.
The Lead Partner, Infusion Lawyers, Senator Ihenyen, explained that when the CBN restricted crypto-related transactions in Nigeria’s banking and financial sector in February 2021, it was the Security and Exchange Commission that introduced a regulatory framework for digital assets in May 2022. He, however, noted that in its amendment, there is an addition of “or any other payment technology means” under Section 30 of the Act, which covers the manipulation of ATM/POS terminals.
“Also, considering how the adoption of digital innovations has increasingly become ubiquitous, as well as, the crimes they bring with them, there are certain additions to the Act that now apply to employees of both public and private organisations, not financial institutions only. The Chief of Defence Staff , General Christopher Gwabin Musa, has listed terrorism, coup d’etat, organised crime, among others as a bane to Africa’s development and progress. Musa spoke yesterday at the 42nd ordinary session of the Committee of ECOWAS Chiefs of Defence Staff in Abuja.
Cybercrime Cybercrime Act Cyberspace-Related Crimes NCF
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