CBN reduces cybersecurity levy to 0.005% on electronic transactions

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CBN reduces cybersecurity levy to 0.005% on electronic transactions

The Central Bank of Nigeria has reduced the cybersecurity levy on electronic transactions from 0.5 per cent to 0.005 per cent in its new fiscal guidelines for 2024-2025. This reduction follows the controversial introduction of the levy earlier in the year, which was met with opposition from both the Nigeria Labour Congress, Trade Union Congress,