Cybersecurity Levy Amid Cost of Living Crisis NESG Speaks Out

Cybersecurity Levy Amid Cost of Living Crisis NESG Speaks Out

Cybersecurity Levy Amid Cost of Living Crisis NESG Speaks Out

The Nigerian Economic Summit Group, NESG speaks out concerns about the timing of the recently introduced 0.5 per cent cybersecurity levy on electronic transactions by the Central Bank of Nigeria (CBN) amid cost of living crisis.

On Monday, the Central Bank of Nigeria (CBN) issued a circular to various financial institutions, including commercial, merchant, non-interest, and payment service banks, announcing the cybersecurity levy.

The NESG, in a statement, urged the federal government to reconsider the levy due to concerns over multiple taxation and inflationary pressures burdening Nigerians.

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