CBN Rescinds Directive on Cyber Security Levy - Android Pols

CBN Rescinds Directive on Cyber Security Levy  

The statement read: "The Central Bank of Nigeria's circular dated May 6, 2024 (Ref. PSMD/DIR/PUB/LAB/017/004) concerning the aforementioned matter is referenced. '

The Central Bank of Nigeria (CBN) has rescinded the directive that required banks and other financial institutions to enforce the 0.5% cyber security levy.

The revocation of the directive was communicated in a statement co-signed by Haruna Mustafa, Director of Financial Policy and Regulation Department, and Chibuzo Efobi, Director of Payment System Management Department.

The statement read: "The Central Bank of Nigeria's circular dated May 6, 2024 (Ref. PSMD/DIR/PUB/LAB/017/004) concerning the aforementioned matter is referenced. '

Subsequently, please note that the circular mentioned above has been rescinded."

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