CBN Reintroduces Controversial Cybersecurity Levy Slashes tax to 0.005% from 0.5% on all electronic transactions
James Emejo in Abuja
The Central Bank of Nigeria (CBN) says it will continue to enforce payment of the mandatory levy on all electronic transactions by banks
and other financial institutions. This comes nearly four months after the decision suffered a major backlash when it was initially announced in May. CBN, however, disclosed that
the controversial levy had now been reduced to 0.005 per cent, from the initial 0.5 per cent. The decisions were contained in the CBN’s Monetary, Credit, Foreign Trade, and Exchange
Policy Guidelines for the Fiscal Years 2024-2025. CBN pointed out that implementation of the levy was in accordance with the Cybercrime (Prohibition, Prevention, etc.) Act, 2015.
It mandated banks and Payment Service Providers (PSPs) to adhere to the guidelines on the risk-based cybersecurity framework. The central bank also drew the attention of Other Financial
Institutions (OFIs) to an earlier framework on "Issuance of Riskbased Cybersecurity framework and Guidelines for Other Financial Continued on page 10
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Party Constitution, Not Governor, Removed Abure, LP Leadership, Says Peter Obi Says party warned Nigerians about APC Ex-chair explains why INEC is against him
Chuks Okocha in Abuja The presidential candidate of Labour Party (LP) in the 2023 elections, Peter Obi, has stated that the embattled
former national chairman of the party, Julius Abure, was removed by the party’s constitution, as his tenure elapsed. Obi said Abure was not removed by any governor.
Obi, who was represented by his 2023 running mate, Datti BabaAhmed, gave the clarification at the inaugural meeting of the LP caretaker committee held in Abuja
on Tuesday night. He appealed to Abure and his supporters to sheathe their swords and join hands with the caretaker committee to rebuild the party.
Obi counselled, "Listen my friend, no governor unseated Abure, the constitution unseated him. Abure’s time elapsed. Nobody unseated him. As of today, Abure is our good friend,
and a loyal member. We want him back in the fold, we have roles for him to play. Continued on page 10
CDS to Obaseki: We Have Tinubu’s Mandate to Ensure Free, Fair Poll in Edo Governor begs general to talk to IGP on fairness PDP: We’re ready for election, alleges APC bringing thugs from Imo, Kogi Obi rallies support for Akpata, tasks security agencies, INEC on credible polls Police refute alleged clampdown on PDP Citing alleged police compromise, HURIWA asks NSA to take over security Chuks Okocha, Alex Enumah, Linus Aleke in Abuja, Adibe Emenyonu in Benin City and Ibrahim Oyewale in Lokoja Chief of Defence Staff (CDS), General Christopher Musa, yesterday, met with Edo State Governor, Mr. Godwin Obaseki, and assured him that the Nigerian Army, in collaboration with sister security agencies, had the mandate of President Bola Tinubu to ensure a free, fair, credible, and peaceful governorship election in the state on Saturday, September 21. Musa gave the assurances when he and other top military officers deployed to the state on election duty, met with Obaseki, at the Government House, in Benin City, the Edo State capital. Obaseki begged the CDS to appeal to Inspector-General of Police (IGP), Kayode Egbetokun, “because we know what #EndSARS protests Continued on page 10
Mission to Ensure Free, Fair Poll...
L-R: Edo State Governor, Mr. Godwin Obaseki; Chief of Defence Staff, General Christopher Gwabin Musa; General Officer Commanding 2 Division Nigerian Army, Major Gen Obinna Onubogu, and a senior military officer, during a courtesy visit to the Government House to reassure the governor of free, fair, and secure election, in Benin City, … yesterday