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CBN Reduces Cybersecurity Levy on Electronic Transactions Amidst Backlash
The Central Bank of Nigeria (CBN) has announced a significant reduction in the cybersecurity levy on electronic transactions, lowering it from 0.5% to 0.005%, as part of its new fiscal guidelines for 2024-2025. This reduction follows widespread opposition from various groups, including the Nigeria Labour Congress (NLC), Trade Union Congress (TUC), and numerous bank customers,…

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