Nigeria’s Minister of Information and National Orientation, Mohammed Idris, has announced the suspension of the contentious cybersecurity levy on electronic banking transactions.
This decision was disclosed during a briefing with State House Correspondents following the Federal Executive Council (FEC) meeting held at the State House in Abuja on Tuesday.
Minister Idris explained that the government has opted to suspend the policy pending a comprehensive review.
He emphasized that this decision reflects the government’s commitment to carefully assess and evaluate the implications of the cybersecurity levy before proceeding with its implementation.
“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 the council (FEC meeting) yesterday. You know that today’s council (meeting) is a continuation of the council meeting of yesterday,” Minister Idris stated.
He further added, “So, I can tell you that the cybersecurity levy has been put on hold. It is being reviewed by the government.”
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