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Daily Archives: May 10, 2024

cybersecurity in nigeria

The CBN Cybersecurity Levy: Here’s What You Need to Know!

In a new circular dated May 6, 2024, the Central Bank of Nigeria (CBN) enacted a new transaction levy tagged “Cybersecurity Levy” on all electronic transactions in all banks, commercial and other financial institutions. According to the circular, “Following the enactment of the Cybercrime (Prohibition,