CBN Directs Banks to Implement Cybersecurity Levy on Electronic Transfers
The Central Bank of Nigeria (CBN) has issued a directive instructing banks and various financial institutions to apply a 0.5 percent levy on electronic transfers for cybersecurity measures. This mandate was communicated through a circular signed by Chibuzor Efobi, the director of payments system management, and Haruna Mustafa, the director of financial policy and regulation,…
