What You Need To Know About The New 0.5% Cyber Security Levy

In a significant move to bolster national cybersecurity, the Central Bank of Nigeria (CBN) has issued a directive to all banks and financial institutions to implement a cybersecurity levy on banking transactions. This new levy, set at 0.5% of the value of electronic transactions was in response to the escalating concerns over cyber threats and follows the guidelines of the recently amended Cybercrime (Prevention and Prohibition) Act. Join us on today's episode of the podcast to find out more.