Chairman, Senate Committee on National Security and Intelligence, Senator Shehu Umar Buba, on Sunday, May 12, explained that the recently introduced cybersecurity levy by the Central Bank of Nigeria is not targeted at individuals or bank customers.
He said this has become necessary because the finance and telecoms sectors are the most vulnerable to financial crimes and cyber fraud and also to enhance cybersecurity measures and national security in the country. “After rigorous processes, President Bola Ahmed Tinubu signed the Bill into law in February 2024,” he said.
Recall that the Cybercrime Act 2024, which President Tinubu signed into law in February, imposes a 0.5 percent levy equivalent to half the value of all electronic transactions by the businesses specified in the Second Schedule of the Act.
Source: Tech Daily Report (techdailyreport.net)
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