President Tinubu Suspends Cyber Security Levy.
President Bola Tinubu has instructed the Central Bank of Nigeria to suspend
the implementation of the 0.5 per cent cyber security levy in response to
public backlash and opposition following its announcement.
Minister of Information and National Orientation, Mohammed Idris, who
disclosed the suspension of the levy said, President Tinubu has directed
the
CBN to temporarily halt the enforcement of the 0.5 per cent cyber security
levy and to review the methods for its application.
This is coming after Members of the House of Representatives last
Thursday urged the CBN to withdraw the circular directing financial
institutions to commence implementation of the 0.5 per cent cyber security
levy, describing it as “ambiguous”.
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