The Nigerian government recently introduced a cybersecurity levy, sparking a national conversation with mixed reactions. As of May 20, 2024, financial institutions in the country will start charging a 0.5 percent cybersecurity levy on electronic transfers, in the direction of the Central Bank of Nigeria.
With cybercrime a growing threat in Nigeria, this levy aims to strengthen the national cybersecurity infrastructure and protect citizens online.
In our latest article, we critique the recently implemented cybersecurity levy and its impact on citizens, businesses, the economy, and politics.
At Kleinfeld LP, we are dedicated to providing our clients and the wider community with the insights and expertise necessary to navigate today’s dynamic regulatory landscape.
We want to hear your thoughts on the practicability of this levy. Share your comments below or contact us for further discussions.
