‘Cybersecurity levy will hamper financial inclusion drive’

transactions will affect the drive towards financial inclusion and cashless economy in Nigeria. transactions will affect the drive towards financial inclusion and cashless economy in Nigeria.

He pointed out that the new levy would lead to higher transaction and financing costs for everyone, businesses and individuals as the cost for MSMEs would be even more, given that small business owners more easily transfer money from business accounts to private accounts and vice versa. “It’s worth noting that the government already imposes the Nigeria Information Technology Development Fund Levy on the same companies outlined in the Second Schedule of the Cybercrime Act, amounting to one per cent of their pre-tax earnings.

Kano State Governor, Abba Yusuf, has requested an extension of the duration of the Lives and Livelihoods Fund project within the state to broaden the scope of beneficiaries and enhance the economic sustainability of the North West. Chairman, Federal Civil Service Commission , Prof. Tunji Olaopa, has said that the development of a nation is tied to the importance its leaders and citizens attach to a culture of reading.

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