The CBN, in its latest circular dated May 17, 2024, referred to the earlier May 6, 2024 circular and advised financial institutions that the initial circular on the implementation of the cybersecurity levy “is hereby withdrawn”.
Browsing: CBN
The anti-graft agency is accusing Emefiele of “illegal” printing of naira notes in its fresh charge.
An Information Communication Technology (ICT) expert, Mr Jide Awe, has called on the Federal Government to focus on strengthening cybersecurity rather than floating levies that will further worsen the economic hardship of Nigerians.
The lawmaker said that unless immediate steps were taken to halt the proposed action of the CBN, the cybercrime would be implemented in error.
“It is crucial that the government listens to the concerns of organizations like the NEF and works towards implementing policies that benefit all Nigerians, rather than burdening them with additional costs and hardships.
The Nigeria Labour Congress (NLC) has rejected the recent directive by the Central Bank of Nigeria (CBN) of 0.5 (0.005) per cent Cybersecurity Levy on electronic transfers.
“Following the enactment of the Cybercrime (Prohibition, Prevention, etc) (amendment) Act 2024 and pursuant to the provision of Section 44 (2) (a) of the Act, ‘a levy of 0.5% (0.005) equivalent to a half percent of all electronic transactions value by the business specified in the Second Schedule of the Act’, is to be remitted to the National Cybersecurity Fund (NCF), which shall be administered by the Office of the National Security Adviser (ONSA),”
Total Ways and Means balances as of May 2023 when the Tinubu administration took over N26.95 trillion.
The Naira on Wednesday further depreciated at the official market, trading at N1,308.52 to the dollar. Data from the official…
The Central Bank of Nigeria has approved the sale of an additional 10,000 each dollars to 1,583 eligible Bureaux De Change (BDCs) in the country to meet market demands.