Central Bank Issues Fresh Circular Stoping Directive To Implement Cybersecurity Levy
The Central Bank of Nigeria (CBN) has withdrawn its earlier circular directing commercial banks, mobile money operators, and other financial institutions to implement the National Cybersecurity Levy. The circular, issued May 6, 2024, with reference PSMD/DIR/PUB/LAB/017/004, mandated the institutions to collect a 0.5 percent levy on all electronic transactions. The move was primarily informed by…
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