Home Business PRESIDENT TINUBU ORDERS CBN TO SUSPEND IMPLEMENTATION OF CYBERSECURITY LEVY

PRESIDENT TINUBU ORDERS CBN TO SUSPEND IMPLEMENTATION OF CYBERSECURITY LEVY

101
0

President Bola Tinubu has ordered the Central Bank of Nigeria to suspend the implementation of the controversial cybersecurity levy policy and ordered a review.

This followed the decision of the House of Representatives, last Thursday, asking the CBN to withdraw its circular directing all banks to commence charging a 0.5 per cent cybersecurity levy on all electronic transactions in the country.

The CBN on 6th May issued a circular mandating all banks, mobile money operators, and payment service providers to implement a new cybersecurity levy, following the provisions laid out in the Cybercrime Act 2024.

Financial institutions were required to apply the levy at the point of electronic transfer origination.

Previous articleLAGOS GOVERNMENT TO PAY MEDICAL BILLS OF GAS EXPLOSION SURVIVORS.
Next articleTinubu Swears-in 2 New NPC Commssioners

LEAVE A REPLY

Please enter your comment!
Please enter your name here