Browsing: Cybersecurity levy

The Socio-Economic Rights and Accountability Project, BudgIT, and 136 concerned Nigerians have filed a lawsuit against the Central Bank of Nigeria due to its failure to withdraw the cybersecurity levy. The plaintiffs described the circular as unlawful in the case filed last Friday at the Federal High Court FHC/L/CS/822/2024.

As the week ends, PUNCH Online recaps the major headlines that dominated the news. The Central Bank of Nigeria has instructed all banks operating in the country to begin imposing a cybersecurity levy on transactions. The Federal Government instructed Point-of-Sale operators to register with the Corporate Affairs Commission. Lagos carried out […]

The House of Representatives Thursday asked the Central Bank of Nigeria to withdraw the circular instructing all banks to start applying a 0.5 percent cybersecurity levy on electronic transactions in the country, The Nation reports. The request to stop and adjust the implementation of the cybersecurity levy was raised […]

The 2023 presidential candidate for the Labour Party, Peter Obi, has criticized President Tinubu’s government for implementing a Cyber-Security Levy on Nigerians, which he considers unjust given the country’s economic challenges. Obi mentioned that the current government seems more concerned with exploiting a struggling economy rather than fostering its recovery and growth.

The Nigeria Labour Congress has rejected the newly introduced cybersecurity levy by the Central Bank of Nigeria, demanding its immediate withdrawal. In a statement by its President, Joe Ajaero, the NLC lamented that the levy is another anti-people policy of the government amid excruciating economic hardship. The statement read, “The Nigeria Labour Congress, vehemently condemns […]

The Central Bank of Nigeria on Monday ordered banks operating in the country to start charging a cybersecurity levy on transactions. A circular from the apex bank further disclosed that the implementation of the level would start in two week. “Following the enactment of the Cybercrime (Prohibition, Prevention, etc) (amendment) Act 2024 and under the […]

The Central Bank of Nigeria, on Monday, directed banks and other financial institutions to start charging a cybersecurity levy on all banking transactions. PUNCH Online reports that, according to the circular, the implementation of the levy would start in two weeks. The circular read in part, “Following the enactment of the Cybercrime (Prohibition, Prevention, etc) […]