In a growing backlash against the recently implemented 0.5% cybersecurity levy, an increasing number of customers and businesses are voicing their opposition to the new levy.
Recall that the Central Bank of Nigeria (CBN) in a circular on Monday directed commercial banks and other financial institutions to start charging 0.5 per cent cyber security levy on bank transactions after two weeks.
The Lagos Chamber of Commerce & Industry (LCCI) has called on the government to reconsider the implementation of the 0.5 per cent cybersecurity levy on all banking transactions, as its timing is wrong.
The director-general of LCCI, Dr. Chinyere Almona said, the directive by the Central Bank of Nigeria (CBN) to banks to implement section 44 of the Cybercrime Act 2024, which imposes a 0.5 per cent cybersecurity levy on Nigerians, is a subject of concern to the Chamber.
According to her, “by this directive, individuals and businesses will be burdened with an additional levy amidst unsettled…
Source: Leadership Newspaper
