The Central Bank of Nigeria has ordered all banks to start charging a 0.5 per cent cybersecurity levy on all electronic transactions within the country excluding 16 listed banking deals.
The apex bank, in the circular, directed to all commercial, merchant, non-interest, and payment service banks, among others; to start the implementation of the cybersecurity charges after two weeks of the information. 12. Savings and deposits, including transactions involving long-term investments such as Treasury Bills, Bonds, and Commercial Papers14. Non-profit and charitable transactions, including donations to registered non-profit organisations or charities
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