PSAN has engaged Agbakoba to challenge constitutionality Cybercrimes Fund

Progressive Shareholders Association Of Nigeria files claim through Olisa Agbakoba Legal (Oal) to challenge the constitutionality of the Cybercrimes Fund the Progressive Shareholders Association of Nigeria (PSAN) engaged Olisa Agbakoba Legal (OAL) to challenge the constitutionality of the Cybercrimes Fund. OAL has filed an action at the Federal High Court, Lagos Division in Suit No. FHC/L/CS/866/2024 between PSAN as the Plaintiff and the National Assembly, the Attorney General of the Federation, as Defendants.

The grounds for the challenge, are that:

1. The National Assembly enacted the Cybercrimes (Prohibition, Prevention etc.) Amendment Act 2024 to bypass the constitutional provision regarding public revenues, which are to be remitted into the Federation Account and appropriated in line with the Constitution.
2. The Cybercrimes (Prohibition, Prevention etc.) Act 2024, in section 44(2)(a), mandates a levy of 0.5% of electronic transactions of all bank customers to be deducted by commercial banks and payment services banks and remitted to the National Cybercrimes Fund domiciled with the Central Bank of Nigeria, to be administered by the Office of the National Security Adviser.
3. Section 162 of the 1999 Constitution of the Federal Republic of Nigeria (as amended) provides for the collection and domiciliation of public revenue into the Federation Account and its appropriation as prescribed by the Constitution. Section 59(1) of the 1999 Constitution (As Amended) requires approval from the National Assembly for all expenditure of public revenues, to be included in the annual Appropriation Bill.
4. By Sections 59 and 162 of the Constitution, all expenditure on public revenues, must be included in the annual Appropriation Bill laid by the President and approved by the National Assembly.
5. Any laws made by the National Assembly that creates revenues, and prescribes their administration, disbursement, and direct their spending and bypassing the requirement of legislative approval, are null and void.

No hearing date has been fixed for the case.