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Bola Ahmed Tinubu has instructed the Central Bank of Nigeria to halt the controversial cybersecurity levy policy and conduct a review. This follows the House of Representatives’ resolution last Thursday to request that the CBN rescind its circular mandating all banks to charge a 0.5% cybersecurity tax on all electronic transactions in the country. The CBN
Members of the House of Representatives on Thursday asked the Central Bank of Nigeria, CBN to withdraw the circular directing financial institutions to commence implementation of the 0.5 per cent Cybersecurity levy , describing it as “ambiguous”. The development was in response to a motion on the urgent need to halt and modify the implementation
His Excellency, Peter Obi has cautioned FG on move to introduce Cyber security levy . Described it as taxing people’s business capital rather than their profits He said: The introduction of yet another tax, in the form of Cybersecurity Levy, on Nigerians who are already suffering severe economic distress is further proof that the government
Most Nigerians woke to another sad news of Cybersecurity Levy On Transactions. This present News by Tinubu’s government really raises some eyebrows and more people are waking up to the reality already. Did you understand well the meaning of Banks To Charge Nigerians For Cybersecurity Levy On Transactions? 🇳🇬CYBERSECURITY LEVY On eligible electronic transfers of…
Amid the ongoing hardship ravaging Nigeria, deposit money banks in the country will now start charging 0.5% cybersecurity levy on transactions. This was contained in a circular dated May 6, 2024 by Central Bank of Nigeria (CBN) to all commercial, merchant, non-interest and payment service banks as well as mobile money operators and payment service