A directive from the House of Representatives has been issued to the Central Bank of Nigeria (CBN) to halt the implementation of a circular that mandates banks in the country to impose a 0.5% cybersecurity levy on all electronic transactions nationwide.
The call to action was initiated by Kingsley Chinda, the representative for the Obio/Akpor Constituency.
The House has requested the CBN to retract the circular and issue a revised version for clarity, citing Chinda’s concerns regarding conflicting interpretations of the CBN directive compared to the Cybersecurity Act’s requirements.
Further updates to follow…