President Bola Ahmed Tinubu has reportedly asked the Central Bank of Nigeria to suspend the implementation of the controversial cybersecurity levy policy amid rejection by Nigerians.
PulseNets learnt a report on Sunday quoted presidential sources disclosing Tinubu’s position on the new tax introduced by the CBN.
This followed the decision of the House of Representatives, which, last Thursday, asked the CBN to withdraw its circular directing all banks to commence charging a 0.5 percent cybersecurity levy on all electronic transactions in the country.
Recall that CBN, on May 6, 2024, issued a circular mandating all banks, mobile money operators, and payment service providers to implement a new cybersecurity levy.
The levy did not go down well with Nigerians, the Nigerian Labour Congress, and the Centre for the Promotion of Private Enterprises.
Also Read: Cybersecurity Levy: Nigerian govt to rake in between N3trn, N7tn yearly — CPPE
NCL rejected the levy, noting it would worsen the economic hardship on Nigerians.
Similarly, CPPE, in a statement by its director, Dr Muda Yusuf, called for its suspension as it is insensitive when Nigerians face severe economic hardship.
[…] Also Read: Cybersecurity levy: Tinubu reportedly orders CBN to suspend new tax […]