(C) Alec Muffett's DropSafe blog.
Author Name: Alec Muffett
This story was originally published on allecmuffett.com. [1]
License: CC-BY-SA 3.0.[2]


Nigeria imposes 0.5% “Cybersecurity Levy” on electronic transfers, because of course that’s how you do information security

2024-05-07 05:41:42+00:00

Western governments are missing a trick:

> Following the enactment of the Cybercrime (Prohibition, Prevention, etc) (amendment) Act 2024 and under the provision of Section 44 (2)(a) of the Act, a levy of 0.5 per cent (0.005) equivalent to a half per cent of all electronic transactions value by the business specified in the Second Schedule of the Act, is to be remitted to the National Cybersecurity Fund which shall be administered by the Office of the National Security Adviser.

https://punchng.com/cbn-orders-banks-to-charge-0-5-cybersecurity-levy/

https://punchng.com/full-list-16-banking-transactions-exempted-from-cbns-new-cybersecurity-levy/

https://punchng.com/five-things-to-know-about-the-new-cybersecurity-levy-to-be-paid-by-nigerians/

https://www.cbn.gov.ng/Out/2024/CCD/CIRCULAR%20REF%20PSMDIRPUBLAB017004%2006052024.pdf (pdf)
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[1] URL: https://alecmuffett.com/article/109742
[2] URL: https://creativecommons.org/licenses/by-sa/3.0/

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