BREAKING: Federal Executive Council Suspends Cyber Security Levy

Federal Executive Council has suspended the Cyber Security Levy.

 

NewsOnline Nigeria reports that the Federal Executive Council has suspended the Cyber Security Levy imposed on Nigerians by the Office of the National Security Adviser via the Central Bank.

 

This was disclosed to newsmen during a press briefing on Tuesday by the Minister of Information and National Orientation, Mohammed Idris.

 

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He explained that the President directed the Central Bank of Nigeria (CBN) to temporarily halt the enforcement of the 0.5 percent cybersecurity levy and to review the methods for its application.

 

The Minister said Tinubu ordered the suspension following deliberations by members of the Federal Executive Council (FEC), adding that the policy is under review.

“The position of the government is that that policy has been suspended. It has been put on hold. That is the position of the government for now. It is undergoing some form of review. It was reiterated in council (FEC meeting) yesterday. You know that today’s council (meeting) is a continuation of the council meeting of yesterday,” Idris said.

 

“So, I can tell you that the cybersecurity levy has been put on hold. It is being reviewed by the government.”