* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Thursday, May 29, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Aziz Ansari made Keanu Reeves Indian food so he wouldn’t feel ‘freaked out’ directing him in Good Fortune (exclusive) – Entertainment Weekly

    Aziz Ansari Whips Up Indian Cuisine for Keanu Reeves to Ease Directing Jitters in Good Fortune

    Cassie Ventura welcomes third child – crossroadstoday.com

    Cassie Ventura Joyfully Welcomes Her Third Child!

    Drew Brees opens Surge Entertainment Center in Metairie hot spot for new businesses – NOLA.com

    Drew Brees Unveils Exciting New Surge Entertainment Center in Metairie!

    Will Gio Stay Or Go On May 27 General Hospital? – Yahoo

    Will Gio Make a Shocking Exit on May 27th’s General Hospital

    First look: Disney shows star villains, Little Mermaid, tech – Yahoo

    Unveiling Disney’s Dark Side: A Sneak Peek at Iconic Villains, The Little Mermaid, and Cutting-Edge Technology!

    Fans Call Out Disney For Cutting Favorite ‘Lilo & Stitch’ Character: ‘It Makes Me Want to Cry’ – Yahoo

    Disney Fans Heartbroken Over the Cut of Beloved ‘Lilo & Stitch’ Character: ‘It Makes Me Want to Cry

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Q1 2025 Quantum Technology Investment: What’s Driving the Surge in Quantum Investment? – The Quantum Insider

    Unleashing the Future: Exploring the Surge in Quantum Technology Investments for Q1 2025

    MIT Team Releases Tempting Report on Electric Aircraft Technology – AVweb

    MIT Team Releases Tempting Report on Electric Aircraft Technology – AVweb

    MSE, DXC Technology expand tech partnership – Sports Business Journal

    MSE, DXC Technology expand tech partnership – Sports Business Journal

    Technology Driving Performance: How Elite MA Plans Leverage Data, Care Coordination, and Advanced Analytics to Thrive Amid CMS’s Rigorous 2025 Standards, Black Book – Newswire.com

    Unlocking Success: How Top MA Plans Harness Data and Analytics to Excel Under CMS’s 2025 Standards

    Arqit acquires Ampliphae’s technology IP, enhancing its global encryption portfolio – GlobeNewswire

    Arqit Boosts Global Encryption Portfolio with Strategic Acquisition of Ampliphae’s Technology IP

    Searenergy partners with Tethys Robotics on subsea inspection technology – Windtech International

    Searenergy partners with Tethys Robotics on subsea inspection technology – Windtech International

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Aziz Ansari made Keanu Reeves Indian food so he wouldn’t feel ‘freaked out’ directing him in Good Fortune (exclusive) – Entertainment Weekly

    Aziz Ansari Whips Up Indian Cuisine for Keanu Reeves to Ease Directing Jitters in Good Fortune

    Cassie Ventura welcomes third child – crossroadstoday.com

    Cassie Ventura Joyfully Welcomes Her Third Child!

    Drew Brees opens Surge Entertainment Center in Metairie hot spot for new businesses – NOLA.com

    Drew Brees Unveils Exciting New Surge Entertainment Center in Metairie!

    Will Gio Stay Or Go On May 27 General Hospital? – Yahoo

    Will Gio Make a Shocking Exit on May 27th’s General Hospital

    First look: Disney shows star villains, Little Mermaid, tech – Yahoo

    Unveiling Disney’s Dark Side: A Sneak Peek at Iconic Villains, The Little Mermaid, and Cutting-Edge Technology!

    Fans Call Out Disney For Cutting Favorite ‘Lilo & Stitch’ Character: ‘It Makes Me Want to Cry’ – Yahoo

    Disney Fans Heartbroken Over the Cut of Beloved ‘Lilo & Stitch’ Character: ‘It Makes Me Want to Cry

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Q1 2025 Quantum Technology Investment: What’s Driving the Surge in Quantum Investment? – The Quantum Insider

    Unleashing the Future: Exploring the Surge in Quantum Technology Investments for Q1 2025

    MIT Team Releases Tempting Report on Electric Aircraft Technology – AVweb

    MIT Team Releases Tempting Report on Electric Aircraft Technology – AVweb

    MSE, DXC Technology expand tech partnership – Sports Business Journal

    MSE, DXC Technology expand tech partnership – Sports Business Journal

    Technology Driving Performance: How Elite MA Plans Leverage Data, Care Coordination, and Advanced Analytics to Thrive Amid CMS’s Rigorous 2025 Standards, Black Book – Newswire.com

    Unlocking Success: How Top MA Plans Harness Data and Analytics to Excel Under CMS’s 2025 Standards

    Arqit acquires Ampliphae’s technology IP, enhancing its global encryption portfolio – GlobeNewswire

    Arqit Boosts Global Encryption Portfolio with Strategic Acquisition of Ampliphae’s Technology IP

    Searenergy partners with Tethys Robotics on subsea inspection technology – Windtech International

    Searenergy partners with Tethys Robotics on subsea inspection technology – Windtech International

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

CBN Exempts 16 Items from Cybersecurity Levy…including Salary, Loans, Pension, Donations 

May 7, 2024
in Business
CBN Exempts 16 Items from Cybersecurity Levy…including Salary, Loans, Pension, Donations 
Share on FacebookShare on Twitter

cbnCBN Headquarters

FIRS

CBN Exempts 16 Items from Cybersecurity Levy…including Salary, Loans, Pension, Donations 

The Central Bank of Nigeria (CBN) has exempted 16 items from 0.5 percent Cybersecurity levy on all electronic transactions.

CBN directed banks to begin charging 0.5% cybersecurity levy on transactions
as part of efforts to contain the rising threats of cybercrime in the financial system.

Economic Confidential reports that the deducted funds are to be remitted to the National Cybersecurity Fund (NCF), which shall be administered by the Office of the National Security Adviser (ONSA).

A circular released by the apex bank on Monday directed all commercial, merchant, non-interest and payment service banks.

The circular revealed that it was a follow-up on an earlier letter dated June 25, 2018 (Ref: BPS/DIR/GEN/CIR/05/008) and October 5, 2018 (Ref: BSD/DIR/GEN/LAB/11/023), in compliance with the Cybercrimes (Prohibition, Prevention, Etc.) Act 2015.

Following the enactment of the Cybercrime (Prohibition, Prevention, etc) (amendment) Act 2024 and under the provision of Section 44 (2)(a) of the Act, a levy of 0.5 per cent (0.005) equivalent to a half per cent of all electronic transactions value by the business specified in the Second Schedule of the Act, is to be remitted to the National Cybersecurity Fund which the Office of the National Security Adviser shall administer.

The  Economic Confidential further reports that circular exempted some transactions from cybercrime levy.

They exemptions included loan disbursements and repayments; salary payments; intra-account transfers within the same bank or between different banks for the same customer; intra-bank transfers between customers of the same bank, and Other Financial Institutions (OFIs) instructions to their correspondent banks.

The exemption also applies to interbank placements; banks’ transfers to CBN and vice-versa; inter-branch transfers within a bank, cheques clearing and settlements; and Letters of Credits (LCs).

Others include banks’ recapitalisation related funding only bulk funds movement from collection accounts; savings and deposits including transactions involving long-term investments such as treasury bills, bonds; and commercial papers;  government social welfare programmes transactions e.g. pension payments; non-profit and charitable transactions including donations to registered non- profit organisations or charities; educational institutions transactions, including tuition payments and other transaction involving schools, universities, or other educational institutions.

Transactions involving bank’s internal accounts such as suspense accounts, clearing accounts, profit and loss accounts, inter-branch accounts, reserve accounts, nostro and vostro accounts, and escrow accounts are also exempted from the levy.

The central bank warned that Section 44 (8) of the Act prescribes that failure to remit the levy constitutes an offence  liable on conviction to a fine of not less than two per cent of the annual turnover of the defaulting business, among others.

PRNigeria reportPRNigeria report that the new levy is statutory requirement in the amendment Cybercrime act which was signed into law by President Bola Tinubu in February 2024.

Senator Shehu Umar Buba, the Chairman of the Senate Committee on National Intelligence and Security, sponsored the amendments to the Act.

While presenting the bill for the amendment at the National Assembly in October 2023, Senator Buba sought, among other things, to correct errors contained in the principal Act and empower the NSA to monitor compliance with the Act. He stressed the complexity of interpreting and applying specific provisions of the Cybercrime Act 2015, which had stifled national cybersecurity efforts in the face of well-organized cyber syndicates and adversaries.

He pointed out that inadequate funding and lack of prioritization might undermine the gains of Nigeria’s digital economy and cybersecurity efforts. He, therefore, advocated the necessity of the amendment to address gaps and realign with changing realities.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : EconomicConfidential – https://economicconfidential.com/2024/05/cbn-exempts-items/?utm_source=rss&utm_medium=rss&utm_campaign=cbn-exempts-items

Tags: businessexemptsItems
Previous Post

FG Reduces Tariff for Band A Customers to N206.80/kwh

Next Post

Gaze at the gregarious sea lions setting records in San Francisco

Aridity modulates grassland biomass responses to combined drought and nutrient addition – Nature

How Aridity Shapes Grassland Biomass: The Impact of Drought and Nutrient Boosts

May 29, 2025
The Last of Us Science Adviser Says COVID Changed How We View Zombie Stories – Scientific American

The Last of Us Science Adviser Says COVID Changed How We View Zombie Stories – Scientific American

May 29, 2025
States sue over Trump cuts to research funding, STEM diversity efforts – Reuters

States Take Action Against Trump’s Cuts to Research Funding and STEM Diversity Initiatives

May 29, 2025
Nearly 700 women celebrate power of healthy lifestyle with Heart & Sole Five Miler – WIS News 10

Empowered and Energized: Nearly 700 Women Unite for the Heart & Sole Five Miler!

May 29, 2025
Team USA Recap: Blevins Scores Another XCO World Cup Victory; Americans Cap Off Pro Road Nationals – USA Cycling

Team USA Shines: Blevins Dominates XCO World Cup and Americans Triumph at Pro Road Nationals!

May 29, 2025
Tariffs, and Trump’s entire economic agenda, were just thrown into chaos – CNN

Trump’s Economic Agenda in Turmoil: The Impact of New Tariffs

May 29, 2025
Aziz Ansari made Keanu Reeves Indian food so he wouldn’t feel ‘freaked out’ directing him in Good Fortune (exclusive) – Entertainment Weekly

Aziz Ansari Whips Up Indian Cuisine for Keanu Reeves to Ease Directing Jitters in Good Fortune

May 29, 2025
ChristianaCare to acquire former Crozer Health outpatient locations – WHYY

ChristianaCare Expands Its Reach with Acquisition of Former Crozer Health Outpatient Locations

May 29, 2025
Tesla’s European Sales Plummet Amid Politics and Competition – NBC Palm Springs

Tesla’s European Sales Dive: Navigating Political Challenges and Fierce Competition

May 29, 2025
Q1 2025 Quantum Technology Investment: What’s Driving the Surge in Quantum Investment? – The Quantum Insider

Unleashing the Future: Exploring the Surge in Quantum Technology Investments for Q1 2025

May 29, 2025

Categories

Archives

May 2025
MTWTFSS
 1234
567891011
12131415161718
19202122232425
262728293031 
« Apr    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (649)
  • Economy (662)
  • Entertainment (21,569)
  • General (15,247)
  • Health (9,704)
  • Lifestyle (665)
  • News (22,149)
  • People (664)
  • Politics (670)
  • Science (15,884)
  • Sports (21,168)
  • Technology (15,650)
  • World (650)

Recent News

Aridity modulates grassland biomass responses to combined drought and nutrient addition – Nature

How Aridity Shapes Grassland Biomass: The Impact of Drought and Nutrient Boosts

May 29, 2025
The Last of Us Science Adviser Says COVID Changed How We View Zombie Stories – Scientific American

The Last of Us Science Adviser Says COVID Changed How We View Zombie Stories – Scientific American

May 29, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version