'Stop implementation' – CBN Sends Messages To All Banks On Cybersecurity Levy

Date: 20-05-2024 9:03 am (3 weeks ago) | Author: onuigbo felicia
- at 20-05-2024 09:03 AM (3 weeks ago)
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Central Bank of Nigeria, CBN, has asked all banks to stop the implementation of a 0.5 per cent cybersecurity levy after President Bola Ahmed Tinubu’s directive on its suspension.

The withdrawal was disclosed in a notice dated May 17, 2024, signed by Chibuzo Efobi, CBN’s director of Payment System Management, and Haruna Mustapha, the Director of the Financial Policy and Regulatory Department.

Recall that on May 6, the apex bank ordered the implementation of a cybersecurity levy, which required all banks and financial institutions to charge a 0.5 per cent levy on all electronic transactions.

However, the levy was heavily criticised by Nigerians, thereby prompting its suspension by Tinubu’s administration.

The Minister of Information and National Orientation, Muhammed Idris, conveyed the government’s decision to suspend the levy after last Tuesday’s Federal Executive Council meeting.

Posted: at 20-05-2024 09:03 AM (3 weeks ago) | Addicted Hero
- fineboy77 at 20-05-2024 10:04 AM (3 weeks ago)
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Confused lot

Posted: at 20-05-2024 10:04 AM (3 weeks ago) | Addicted Hero
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- gogoman at 20-05-2024 01:49 PM (3 weeks ago)
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 Roll Eyes Roll Eyes Roll Eyes
Posted: at 20-05-2024 01:49 PM (3 weeks ago) | Grande Master
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- kp45 at 20-05-2024 02:14 PM (3 weeks ago)
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They have even started already. Very confused set
Posted: at 20-05-2024 02:14 PM (3 weeks ago) | Addicted Hero
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