Following the enactment of the Cybercrime (Prohibition, Prevention, etc) (amendment) Act 2024 the Central Bank of Nigeria (CBN) has ordered deposit money banks in the country to start charging 0.5% cybersecurity levy on transactions.
This was contained in a circular dated May 6, 2024 by the apex bank to all commercial, merchant, non-interest and payment service banks as well as mobile money operators and payment service providers.
The circular was signed by Chibuzor Efobi, Director Of Payments System Management and Haruna Mustafa, Director Of Financial Policy And Regulation on Monday
