TINUBU REQUESTS CBN TO HALT CONTROVERSIAL CYBERSECURITY LEVY
Background and Response
In response to the backlash following the Central Bank of Nigeria’s (CBN) announcement of a 0.5% cybersecurity levy last week, President Tinubu has intervened to address the concerns raised by the public and stakeholders.
Official Announcement
On Tuesday, May 14, 2024, the suspension of the levy was announced by the Minister of Information and National Orientation, Mohammed Idris.
Presidential Directive
President Tinubu has directed the CBN to temporarily halt the enforcement of the cybersecurity levy. The purpose of this suspension is to allow for a comprehensive review of the methods for its application, ensuring that the levy is implemented in a manner that is fair and transparent.
Next Steps
The review process will involve consultations with relevant stakeholders to address the issues and concerns raised about the levy. The government aims to balance the need for enhanced cybersecurity measures with the interests of businesses and the general public.
Source: Techeconomy
