2018-05-30 | BSD/DIR/GEN/LAB/11/006

Compliance with the Cybercrime (Prohibition, Prevention, Etc.), Act 2015: Collection and Remittance of Levy for the National Cybersecurity Fund

All banks in Nigeria are instructed to collect and remit a 0.005% levy on all electronic transactions from the businesses specified in the Cybercrime (Prohibition, Prevention, etc.) Act's second schedule. The levy, which is mandated by the Act, is to be paid into the National Cyber Security Fund account domiciled at the Central Bank of Nigeria. All levies collected must be remitted to the CBN within 30 days.

Nigeria

Central Bank of Nigeria

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