ABUJA—
According to the Senate, both arms of the National Assembly unanimously passed it before President Bola Ahmed Tinubu signed it into law. He, however, clarified that the levy was not punitive as it had numerous exemptions to protect and relieve ordinary citizens, particularly the poor. Senator Buba, who underscored the critical nature of the cybersecurity levy’s implementation, said its prudent utilisation would bolster the nation’s capacity to evaluate, execute, upgrade, and fortify the security of national critical economic infrastructure, thereby safeguarding the nation’s cyberspace.
This followed the adoption of a motion of urgent public importance moved by the House Minority Leader, Kingsley Chinda, PDP Rivers, and 359 others. “Concerned that the CBN circular mandates all Banks, Other Financial Institutions and Payments Service Providers to implement the Cybercrimes Act by applying the levy at the point of electronic transfer origination as ‘Cybersecurity Levy’ and remitting same.
In a statement released by the Director of Publicity and Advocacy, Abdul-Azeez Suleiman, NEF expressed its dissatisfaction with the policy, citing the escalating costs associated with banking transactions as a result of multiple charges. According to him, these additional costs have significantly increased the overall expense of electronic transactions for both senders and receivers.
Technology Technology Latest News, Technology Technology Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: DailyPostNGR - 🏆 11. / 59 Read more »