By Busari Kabirat
The Central Bank of Nigeria (CBN), had been given directives by the House of Representatives to withdraw the circular directing financial institutions to commence the implementation of 0.5% cybersecurity levy on E-transfer as it’s being described as “ambiguous”.
However, Mohammed Idris, who is the Nigeria’s Minister of Information and National Orientation, made this known in Abuja on Tuesday, while briefing the State House Correspondents, following the meeting with the Federal Executive Council (FEC).
According to the Minister, the policy is undergoing a review and is been put on hold fir now.
He said, “The position of the government is that that policy has been suspended. It has been put on hold. That is the position of the government for now. It is undergoing some form of review. It was reiterated in council (FEC meeting) yesterday. You know that today’s council (meeting) is a continuation of the council meeting of yesterday.”
“So, I can tell you that the cybersecurity levy has been put on hold. It is being reviewed by the government.”
