The Central Bank of Nigeria (CBN) has denied reintroducing the controversial cybersecurity levy that was previously suspended.
The denial was contained in a statement titled “Clarification On The Monetary, Credit, Foreign Trade, And Exchange Policy Guidelines For Fiscal Years 2024 – 2025 (Monetary Policy Circular No. 45) released by the apex bank on Friday, September 20, 2024.
On May 6, the apex bank directed all commercial, merchant, non-interest and payment service banks, mobile money operators, and payment service providers to charge a 0.5 percent cybersecurity levy on electronic transfers.
