{"id":643,"date":"2024-05-14T18:26:24","date_gmt":"2024-05-14T18:26:24","guid":{"rendered":"https:\/\/beadysword.com.ng\/blog\/?p=643"},"modified":"2024-05-14T18:27:06","modified_gmt":"2024-05-14T18:27:06","slug":"cybersecurity-levy-suspended","status":"publish","type":"post","link":"https:\/\/beadysword.com.ng\/blog\/2024\/05\/14\/cybersecurity-levy-suspended\/","title":{"rendered":"Cybersecurity Levy Suspended"},"content":{"rendered":"<h3><strong>President Bola Tinubu has ordered the suspension of the controversial cybersecurity levy.<\/strong><\/h3>\n<p>This was disclosed to newsmen during a press briefing on Tuesday by the Minister of Information and National Orientation,\u00a0<strong>Mohammed Idris<\/strong>.<\/p>\n<div class=\"code-block code-block-18\">\n<div id=\"v-naijanews-v1-0\">\n<div id=\"_vdo_ads_player_ai_24752\" class=\"vdo_video_unit\"><\/div>\n<\/div>\n<\/div>\n<p>He explained that the President directed the\u00a0 central bank of Nigeria (CBN) to temporarily halt the enforcement of the 0.5 percent cybersecurity levy and to review the methods for its application.<\/p>\n<p>The Minister said Tinubu ordered the suspension following deliberations by members of the Federal Executive Council (FEC), adding that the policy is under review.<\/p>\n<p><em>\u201cThe position of the government is that that policy has been suspended. It has been put on hold. That is the position of the government for now. It is undergoing some form of review. It was reiterated in council (FEC meeting) yesterday. You know that today\u2019s council (meeting) is a continuation of the council meeting of yesterday,\u201d<\/em>\u00a0Idris said.<\/p>\n<p><em>\u201cSo, I can tell you that the cybersecurity levy has been put on hold. It is being reviewed by the government.\u201d<\/em><\/p>\n<p>There was massive uproar and rejection from Nigerians following the CBN directive to all financial institutions, including commercial, merchant, non-interest banks, payment service banks, and mobile money operators, mandating the implementation of a 0.5% cybersecurity levy on all electronic transactions.<\/p>\n<div class=\"code-block code-block-20\">\n<div class=\"c-ad \">\n<div id=\"div-gpt-ad-4577410-5\"><\/div>\n<\/div>\n<\/div>\n<p>The CBN had mandated financial institutions to start deductions within two weeks from the date of the circular and remit the accumulated levies monthly to the National Cybersecurity Fund (NCF), which is administered by the Office of the National Security Adviser (ONSA).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Bola Tinubu has ordered the suspension of the controversial cybersecurity levy. This was disclosed to newsmen during a press briefing on Tuesday by the Minister of Information and National Orientation,\u00a0Mohammed Idris. He explained&#46;&#46;&#46;<\/p>\n","protected":false},"author":2,"featured_media":644,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-643","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/posts\/643","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=643"}],"version-history":[{"count":3,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/posts\/643\/revisions"}],"predecessor-version":[{"id":647,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/posts\/643\/revisions\/647"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/media\/644"}],"wp:attachment":[{"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}