The Central Bank of Nigeria (CBN) has withdrawn its circular mandating banks and payment service providers to collect and remit the cybersecurity levy as proposed in the Cybercrime Prevention and Prohibition Amendment Act of 2024.
The apex bank stated this in a revised circular dated May 17, 2024, signed by its Director of Payment Systems Management, Chibuzor Efobi, and Director of Financial Policy and Regulation Department, Haruna Mustafa, and addressed to commercial banks, PSPs, non-interest banks, and others.
According to the circular seen by Nairametrics, the bank’s earlier statement on the subject has been withdrawn.