Feature
CBN’s Cybersecurity Levy Threatens Nigerians’ Access to Digital Banking
Implementing the cybersecurity levy looks as though the CBN aims retrogression of digital banking.
Favour Adeboye
May 11, 2024
Implementing the cybersecurity levy looks as though the CBN aims retrogression of digital banking.
Funds won’t halt brain drain in the banking sector. A thriving environment that will create endless opportunities for professional development should be fostered.
The new guidelines, instead of paving a pathway for prosperity, seem to pose a potential peril to the pulsating crypto pulse. In the recent Human Freedom Index (HFI), co-published by the Cato Institute and Fraser Institute, Nigeria is placed at 118th, a rank too poor for Africa’s biggest economy. Most of the countries that rank highly in the Human Freedom Index invest in cryptocurrency.
…Singapore recognises cryptocurrency as a major economic booster; hence, it places no restrictions on its trade. Likewise, Switzerland, Germany, and the US. These countries recognise the advantages of cryptocurrency and prioritise it as one of their economic boosters.
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