Cybersecurity levy for financial institutions, telcos not individuals

Senator Shehu Umar Buba , Chairman of the Senate Committee on National Security and Intelligence, said the cybersecurity levy announced by the Central Bank of Nigeria was not targeted at individuals or ordinary bank customers.

“The organisations in the sectors have been listed in previous circulars by the Central Bank of Nigeria, especially in 2018. The new circular by the CBN further provided many exemptions,” the Senator added. “The passage of the amendment bill was a collaborative effort involving the government, industry players, civil society, and academia. They participated in the public hearing before the endorsement by the two chambers of the National Assembly.

A circular issued by the CBN confirmed the exemption of certain transactions, including loan disbursements and repayments, salary payments, intra-account transfers, among others.Before flagging, please keep in mind that Disqus does not moderate communities. Your username will be shown to the moderator, so you should only flag this comment for one of the reasons listed above.

The Operatives of the National Drug Law Enforcement Agency, NDLEA, has intercepted three trailer loads of opioids, comprising 3,450,000 pills and 344,000 bottles of codeine syrup, at Abule Ado in Amuwo Odofin Local Government Area of Lagos State. NDLEA’s spokesperson, Femi Babafemi, disclosed in a statement on Sunday that three suspects were also arrested in…

Source: Tech Daily Report (techdailyreport.net)

Senator Shehu Umar Buba

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Economic hardship: Senator Umar urges Nigerians to remain resoluteThe Senator representing Kwara North, Sadiq Umar, has pleaded with Nigerians to remain resolute in the face of the ongoing economic hardship.
Source: GuardianNigeria - 🏆 1. / 94 Read more »

Shehu Sani: Power devolution, electoral reform should be prioritised in constitution amendmentShehu Sani, a former senator representing Kaduna Central, says political interests frustrate constitutional amendment in Nigeria...
Source: thecableng - 🏆 2. / 80 Read more »

Umar Audu wins Anyim Ude award for report exposing certificate racketeering in Nigeria, Benin RepublicUmar Audu, a journalist with Daily Nigerian, has been awarded the Anyim Ude prize for the 'Best investigative reporter of the year' by the NUJ
Source: thecableng - 🏆 2. / 80 Read more »

BREAKING: CBN directs banks to charge 0.5% cybersecurity levy on electronic transferCBN has directed all financial institutions to implement a 0.5 percent cybersecurity levy on electronic transfers.
Source: thecableng - 🏆 2. / 80 Read more »

Businesses to pay 0.5% cybersecurity levyThe Nation Newspaper Businesses to pay 0.5% cybersecurity levy
Source: TheNationNews - 🏆 6. / 69 Read more »

CBN directs banks to charge 0.5% cybersecurity levy on transactionsThe levy shall be applied at the point of electronic transfer origination, then deducted and remitted by the financial institution.
Source: PremiumTimesng - 🏆 3. / 78 Read more »