BREAK! House of Representatives orders CBN to suspend 0.5% cybersecurity levy

The House of Representatives has taken action to address concerns raised by Kingsley Chinda, representing Obio/Akpor constituency by calling for the withdrawal of the circular. Apparently there were discrepancies between the CBN policy and the specifications set out in the Cybersecurity Act, leading to confusion and different interpretations.

By asking the CBN to withdraw the circular and issue a clearer policy, the House of Representatives seeks to ensure alignment of regulatory measures with existing legislation.

This move reflects the commitment to promote clarity and consistency in cybersecurity regulations for electronic transactions in Nigeria.

Letter response

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