FRI SEPT 20 2024-theGBJournal| The Central of Nigeria (CBN) Friday clarified its stance on the controversial cybersecurity levy which was suspended in May 2024, saying that the suspension still stays.
The CBN was forced into making clarification on the status of the levy after it published a Guideline (on September 17, 2024), which appeared updated, on ”Monetary, Credit, Foreign Trade and Exchange Policy”, that contained a paragraph that suggests that the levy still exists.
The CBN was forced to withdraw the publication ”to minimize risk of any further
misrepresentation” after several sections of the Guideline was reported as if they were ”recent.”
The CBN then reiterated that the publication was a compilation of previously issued policies and guidelines issued by the Bank up to a cut-off date, typically December 31 of the relevant year.
The apex bank further noted that the withdrawn document is intended as a single reference source for the ease and convenience of stakeholders, a valid compilation of policies, directives, and guidelines for adjudication in conflict situations involving stakeholders and as an Additional clarification of policies and guidelines.
”In line with prior editions, the most recent publication (January 2024) contains policies and guidelines issued by the Bank up to 31st December 2023, some of which will remain relevant during the period 2024 – 2025. However, several others may cease to apply owing to revisions or updates that become applicable in the aftermath of its publication,” the CBN said.
The Central said it will continue to provide clear monetary policy direction and advice for the overall good of the economy and urged all stakeholders to seek clarification of information about the Bank before publishing.
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