Page 2 - Second Schedule News Today

Last week, I watched members of the House of Representatives bitterly complaining about the contents of the Cybercrimes Act, which they had themselves passed into law this year. They angrily directed the Central Bank of Nigeria to withdraw the circular directing all banks to commence charging a 0.5 per cent…

In Nigeria, the tradition seems to be to abuse the powers of the legislature for pecuniary gain. This is unfortunate.

In an economy choking on swelling inflation, the Nigerian government paused plans for a levy on domestic transactions, aimed at enhancing cybersecurity.

President Bola Ahmed Tinubu has written to the House of Representatives seeking the preparations and approval of a N24.6 billion Promissory Notes to reimburse Nasarawa and Kebbi States on the costs of their Airports taken over by the Federal Government. Nasarawa is to be reimbursed N9.5 billion while Kebbi is…

According to him, this is about eight per cent of the total revenue budget for 2024, adding that what remained unanswered is the cost to the overall economy.

The Central Bank of Nigeria (CBN) has directed deposit money banks in the country to start charging 0.5% cybersecurity levy on transactions.   This was contained in a circular dated May 6, 2024 by the apex bank to all commercial, merchant, non-interest and payment service banks as well as mobile money operators and payment service providers.  

The Central Bank of Nigeria (CBN), on Monday, directed banks and other financial institutions to start charging a cybersecurity levy on all banking

The Central Bank of Nigeria, on Monday, directed banks and other financial institutions to start charging a cybersecurity levy on all banking

The CBN says the deduction of the levy will begin within two weeks from the date of the circular. | Pulse Nigeria

The levy shall be applied at the point of electronic transfer origination, then deducted and remitted by the financial institution.