Tag: 0.5% Cybersecurity Levy

CBN to Charge Cybercrime Levy at 0.005% in New Guidelines

by Harry Choms

September 19, 2024

The Central Bank of Nigeria (CBN) has announced that it will continue enforcing the cybercrime levy at 0.005% on all electronic transactions, as outlined in the newly released guidelines for ...

CBN Mandates Banks to Deduct 0.5% Cybersecurity Levy from E-Transfers

by Harry Choms

May 7, 2024

The Central Bank of Nigeria (CBN) has instructed banks nationwide to impose a 0.5 percent cybersecurity levy on electronic transfers. Issued in a circular signed by Chibuzor Efobi and Haruna ...