Economy
Tinubu Suspend 0.5 % Cybersecurity Levy – Mohammed Idris
|
Getting your Trinity Audio player ready...
|
Tinubu Suspend 0.5% Cybersecurity levy – Mohammed Idris
By Hussaini Ibrahim
President Bola Tinubu has decided to put a hold on the 0.5 per cent cybersecurity levy following backlash and public opposition that arose after its announcement.
Minister of Information and National Orientation, Mohammed Idris, disclosed the temporary halt following his statement that Tinubu instructed the Central Bank of Nigeria (CBN) to pause the enforcement and reassess the methods for its application.
Idris said Tinubu directed the Central Bank of Nigeria (CBN) to suspend the implementation and review the modalities for its implementation.
On May 6, the CBN introduced the cybersecurity levy, mandating all banks, mobile money operators, and payment service providers to commence implementation in two weeks.
