Members of the House of Representatives have ordered the Central Bank of Nigeria (CBN) to stop the implementation of the ongoing cybersecurity levy.
THISNIGERIA reports that the proposed levy, which directs all banks to deduct a 0.5 per cent cybersecurity levy on all electronic transactions, has caused confusion in the last few days as some Nigerians argued that it is a way for the apex bank to hoodwink unsuspecting Nigerians.
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The directive was issued after the Minority Leader, Kingsley Chinda (PDP Rivers) moved the motion of urgent public importance.
The House urged the CBN to withdraw the circular and “issue a more understandable one,” as Chinda had drawn the attention of the House to multiple interpretations of the CBN directive against the specifications in the Cybersecurity Act.
Details later…
