CBN Order Not To Implement Cybersecurity Levy

Post created on 8:49 am

Nigeria House of Representatives. [PHOTO: Twitter/HouseNGR]

Following grievances from individuals, groups and cooperate organizations over the notice by the Central Bank of Nigeria, CBN, to deduct 0.5% from bank transactions, the House of Representatives have asked the apex bank to withdraw the circular.

The bill which was sponsored by the house member representing Obio/Akpor Constituency, Kingsley Chinda said that the circular of the cyber security levy had been taken back.

The House member was standing on the point of the economic situation faced by Nigerians, that this was not the right time for a Cybercrime Act to be implemented as many will be plunged into more difficult situations.

Recalled that the apex bank on the circular which was sent to all commercial banks and financial institutions stated that the implementation of the levy would commence two weeks from the date it was received.