Electronic Transactions

CBN Set to Re-introduce Cybersecurity Levy on Electronic Transactions

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The Central Bank of Nigeria (CBN) has announced plans to reintroduce and enforce the payment of the Cybersecurity Levy on electronic transactions across the country. This was outlined in the CBN’s Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for Fiscal Years 2024-2025, released on Tuesday. According to the document, the levy, which was initially … Read more

‘No Suspension Of Cybersecurity Levy’ – Reps Stand Firm, Echo CBN Directive

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Cybercrime Levy Implementation

No Suspension Of Cybersecurity Levy’ – Reps Stands Firm, aligning with CBN’s directive. CBN mandates 0.5% cybersecurity levy on electronic transactions for financial institutions. Lawmakers express concern over levy’s timing and handling of funds, with Speaker Abbas urging further discussion on the matter. EKO HOT BLOG reports that  the House of Representatives has decided not to … Read more

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