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Nigeria's Central Bank Directs Financial Institutions to Charge 0.5% Cybersecurity Levy on all Electronic Transactions

Nigeria's Central Bank Directs Financial Institutions to Charge 0.5% Cybersecurity Levy on all Electronic Transactions
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CBN releases guidelines on collection, remittance of cyber security levy

CBN releases guidelines on collection, remittance of cyber security levy
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Bank customers to pay 0.5% Cybersecurity Levy on transactions, says CBN – Nigerian Observer

Bank customers to pay 0.5% Cybersecurity Levy on transactions, says CBN – Nigerian Observer
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Nigeria: CBN Directs Banks to Charge 0.5% Cybersecurity Levy On Transactions

Nigeria: CBN Directs Banks to Charge 0.5% Cybersecurity Levy On Transactions
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Nigerian Central Bank Directs Commercial Banks To Charge 0.5% Cybersecurity Levy On Transactions

The Central Bank of Nigeria (CBN) has directed deposit money banks in the country to start charging 0.5% cybersecurity levy on transactions.   This was contained in a circular dated May 6, 2024 by the apex bank to all commercial, merchant, non-interest and payment service banks as well as mobile money operators and payment service providers.  

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