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

DHQ Connects Foreign Herdsmen To Benue, Plateau Attacks
gisthub - May 09, 2025The Defence Headquarters has blamed recent violent attacks in Benue, Plateau, and other areas on foreign herders entering Nigeria through porous borders. Major…

Marketers Caution FG Against Hasty Fuel Import Ban
gisthub - May 09, 2025Marketers, including the Independent Petroleum Marketers Association of Nigeria and the Petroleum Products Retail Outlet Owners Association of Nigeria, have warned that Nigeria…

President Trump Urges 30-Day Ceasefire in Russia-Ukraine War, Threatens Further Sanctions
gisthub - May 09, 2025U.S. President Donald Trump has urged both Russia and Ukraine to agree to an unconditional 30-day ceasefire, warning that the United States will…
Most from this category

Leave a Comment