President Tinubu Officially Suspends 0.5% Cybersecurity Levy
The 0.5 percent levy on the value of all electronic transactions which was scheduled to take off soon has been officially suspended by President Bola Tinubu following criticism.
Recall that on May 6, the CBN introduced the cybersecurity levy, mandating all banks, mobile money operators, and payment service providers to commence implementation in two weeks.
Minister of information and national orientation, Mohammed Idris who addressed newsmen after the Federal Executive Council (FEC) meeting on Tuesday, May 14, said Tinubu directed the Central Bank of Nigeria (CBN) to suspend the implementation and review the modalities for implementation of the levy which is to be collected and remitted to the national cybersecurity fund, overseen by the office of the national security adviser (NSA).
Idris said the cybersecurity levy was thoroughly discussed at the FEC meeting, adding that the president is not insensitive to the feelings of Nigerians.
You may be interested

BREAKING: Alexander-Arnold Signs Six-Year Deal with Real Madrid
gisthub - May 30, 2025Real Madrid have officially confirmed the signing of England international Trent Alexander-Arnold from Liverpool on a six-year deal. The 26-year-old defender will join…

Napoli Demand Hojlund and £33.6m from Man Utd for Osimhen Transfer
gisthub - May 30, 2025Napoli have set a price of Rasmus Hojlund plus £33.6 million from Manchester United for Victor Osimhen in the ongoing summer transfer window.…

Transfer: Ten Hag Interested in Signing Two Man Utd Players for Bayer Leverkusen
gisthub - May 30, 2025New Bayer Leverkusen manager Erik ten Hag has shown interest in signing two Manchester United players. Ten Hag, who took over from Xabi…
Leave a Comment