Business
The Central Bank of Nigeria has directed banks to implement a 0.5% cybersecurity levy on transactions.
The Central Bank of Nigeria has directed banks to implement a 0.5% cybersecurity levy on transactions.
List of exemptions from cybersecurity charges:
According to the Central Bank of Nigeria, the CBN Cybercrime Act 2024 requires that under Section 44 (2)(a) of the Act, businesses listed in the Second Schedule remit 0.5% of the value of all electronic transactions to the National Cybersecurity Fund (NCF), which shall be administered by the Office of the National …