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Nigeria Introduces 0.5% Cybersecurity Levy on Electronic Transactions Starting May 2024

  • Nigeria has implemented a cybersecurity levy on e-transactions
  • The Central Bank of Nigeria directed banks and financial organizations to enforce a 0.5% levy on all electronic transactions
  • The levy must be remitted monthly by the 5th of the subsequent month

Source: regfollower.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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