JUST IN: “We Have Not Reintroduced Cybersecurity Levy” – Central Bank of Nigeria

The Central Bank of Nigeria (CBN) has issued a statement clarifying that it has not reinstated the cybersecurity levy that was previously suspended. This clarification comes amid rising confusion surrounding the bank’s fiscal policies.

In conjunction with this announcement, the CBN addressed concerns regarding its recently published “Guidelines for Fiscal Years 2024-2025.” The bank emphasized that the document, which compiles existing policies up to December 31, 2023, is intended as a comprehensive reference for stakeholders.

The CBN stated, “The Guidelines must primarily be viewed as a record of policies, circulars, and directives issued by the Bank up to the end of 2023. They are not new directives and should not be reported as such.” This is to mitigate any misunderstandings that may arise from outdated information circulating in the media.

The bank also highlighted that while many policies within the guidelines remain relevant, some may become obsolete due to ongoing updates. It is important to note that “the Guidelines may be adjusted by the CBN without prior notice to address new developments in the domestic and global economies.”

In light of these developments, the CBN urged stakeholders to seek clarification on any aspect of its guidelines before publishing or disseminating information.