- By Yemi Kamil
The House of Representatives on Thursday asked the Central Bank of Nigeria to suspend IT’s implementation of the cybersecurity levy recently introduced.
A circular released by the CBN on Monday said the implementation of the levy would begin two weeks from the day of its announcement. The circular was directed to all commercial, merchant, non-interest and payment service banks.
According to the CBN, the directive is in line with the recent amendment to the Cybercrime (Prohibition, Prevention, etc) (Amendment) Act 2024.
Leading the debate on the motion, Mr Chinda said the Cybercrime Act is implemented wrongly by the CBN
The House directed the CBN to withdraw the circular and issue a new one that provides clarity.