Uncategorized
CBN denies reinstating cybersecurity levy following public outrage
The Central Bank of Nigeria (CBN) has denied reports of reinstating the previously suspended cybersecurity levy, which sparked public controversy earlier this year.
The CBN had initially mandated Nigerian banks to collect and remit a 0.5% levy to the Office of the National Security Adviser, but this was halted following a directive from the Federal Executive Council (FEC).
Despite speculation of its return, the CBN clarified that the levy remains suspended. The clarification came through its Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for Fiscal Years 2024-2025, released on September 17, 2024.
READ ALSO: CBN pulls 2024-2025 policy guidelines over media misrepresentation
In the circular, the CBN addressed the confusion, stating: “The attention of the Central Bank of Nigeria has been drawn to misinterpretations of its publication. The cybersecurity levy, suspended in May 2024, has not been reinstated.”
The apex bank emphasized that the document is a compilation of previous policies issued before December 31, 2023, and is not indicative of new directives. Additionally, it urged the public to seek clarification on such matters to prevent further misinformation.
Health1 week agoNAFDAC intensifies global partnerships to halt influx of substandard food, drugs
Business5 days agoTelecom inflation falls to 2.3% amid price freeze, regulatory tensions
Business6 days agoNigeria’s auto industry stagnates over policy delay, LCCI warns
Politics4 days agoJustice ministry plans more trainings for staff in Delta
Health1 week agoCampaigners demand GMO ban, advocate Agroecology for food security
- Crime5 days ago
IG Egbetokun bans police from making arbitrary arrests, detaining youths, collecting phones, and conducting searches
Business1 week agoElon Musk rejects SEC settlement over X acquisition
Latest7 days agoINEC chairman is alive, Oyekanmi tells Nigerians