Details have emerged over the weekend on why President Bola Tinubu instructed the Office of National Security Adviser to suspend the implementation of the cybersecurity levy policy.
President Tinubu was reported over the weekend to have instructed the suspension of the implementation of the provision policy. “He didn’t order CBN. That is a wrong slant. It is a not a CBN action, It is an ONSA action, CBN only issued circular to banks as implementing institutions The CBN had on May 6, 2024, issued a circular to concerned financial institutions, informing of the plan to start implementation of the National Cybersecurity Fund , which will be administered by the ONSA.
Meanwhile, reacting to the wind that gathered around the Cybersecurity Levy, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, said the Act, which originated from 2015, belongs in the category of old laws that his Committee is working on, assuring that it would be sorted out along the line.
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