CBN Withdraws Cybersecurity Levy Circular
The Central Bank of Nigeria (CBN) has withdrawn its earlier circular directing banks to implement a 0.5% cybersecurity levy on electronic transactions. The decision of the apex bank to withdraw the circular followed the public outrage that trailed the announcement of the policy two weeks ago and the suspension of the levy by the Federal […]
16 Bank Transactions Exempted From CBN’s New Cyber Security Charges
In a significant move, the Central Bank of Nigeria (CBN) has issued a directive for all banks to implement a 0.5% cybersecurity levy on all electronic transactions to bolster cyber defenses. However, in a bid to mitigate the impact on essential services and operations, the CBN has also outlined specific exemptions to this levy. The […]
Five Important Things To Know About The New CBN Cybersecurity Levy To Be Paid By Nigerians
The Central Bank of Nigeria (CBN) has mandated that all banks and other financial institutions implement a cybersecurity levy on all banking transactions within two weeks. This directive responds to the increasing need for enhanced cybersecurity measures and is backed by the recently enacted Cybercrime (Prohibition, Prevention, etc.) (Amendment) Act 2024. According to a circular […]
CBN directs banks to impose 0.5% cybersecurity levy on all transactions
CBN Circular The Central Bank of Nigeria, CBN, has directed 0.005 percent Cybersecurity Levy deductions on electronic transfers. A circular issued by the CBN, yesterday, directed the deductions would become effective from the next two weeks. The circular, issued by the Director of Payment Services, Uzoma Efobi, was addressed to all banks and payments services […]
15 Mortgage Tips for First-Time Homebuyers
If you’re in the market for your first home, the process may seem pretty daunting, especially getting your first mortgage. However, the more you know about mortgages, the better prepared you’ll be, so here are 15 things you should know that can get you ready for the application process and possibly save you money. Know […]
Mortgage Refinancing and its Benefits
Refinancing your mortgage can help you save money (or at least lower your payments), but sometimes it’s just an expensive mistake. If you’re considering refinancing, study up before you pull the trigger. What is Mortgage Refinancing? A refinancing transaction happens when you swap out an old loan for a new (ideally better) one. Your new […]
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Boost for agric financing as CBN rolls out new rules
The amendment of the Commercial Agriculture Credit Scheme (CACS) and the pegging of the maximum loan intake for any project under the scheme at N2 billion are some of reforms being introduced by the Central Bank of Nigeria (CBN) to stimulate activities in the agricultural sector. More commercial banks are also being encouraged by the […]
Buyer beware! The top 10 investment scams
Securities Fraud #1 – Penny Stocks The micro-cap stock market (ie: penny stocks) has a long history of fraud, yet it attracts new investors every day. The dream of owning the next Microsoft, Yahoo, or eBay at the start-up stage and riding it to easy riches is enough to make even a skeptic’s greed glands […]
