Cybersecurity Levy Targets Financial Institutions, Telecoms, Not Individuals

Senator Shuaib Afolabi Salisu, the Chairman of the Senate Committee on ICT & Cybercrime has clarified that the recently imposed cybersecurity levy announced by the Central Bank of Nigeria (CBN) is not targeted at individuals or ordinary bank customers rather it is aimed at financial institutions and telecommunications companies.

The Senator made the clarification when he was featured as a guest on Channel TV's breakfast program, The Morning Brief.

Senator Salisu says the amendment bill is aimed explicitly at financial institutions and telecom companies, the most vulnerable sectors to financial crimes and cyber fraud, to enhance cybersecurity measures and national security.

Senator Salisu noted that the relevant section of the Cybercrime Act is very clear about the businesses that are required to pay the levy, not the citizens.

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