“How to Bypass the CBN 0.5% Cybersecurity Levy”: Lady Shares Trick for Nigerians

  • A Nigerian lady has come up with a trick which would help people avoid paying the 0.5% cybersecurity levy
  • In a new circular, the Central Bank of Nigeria (CBN) directed commercial banks to charge a 0.5% cybersecurity levy on all transactions
  • The lady’s advice on bypassing the new cybersecurity levy has sent social media users into a frenzy

A Nigerian lady has shared how people could avoid paying the 0.5% cybersecurity levy recently introduced by the Central Bank of Nigeria (CBN).

The CBN’s levy directive to commercial banks has sparked outrage across social media platforms as people condemned it.

Nigerian lady offers way out of 0.55 cybersecurity levyNigerian lady offered a way to bypass the 0.5% cybersecurity levy.
The image of a lady on the right is for illustration purpose and is unrelated to the story.
Photo Credit: The Good Brigade, BloombergSource: Getty Images

In a Facebook post, Nenye Uzowulu stated that using the same bank as one’s dealers or customers was one way to bypass the cybersecurity levy.

She hinted at opening all accounts to avoid paying the new levy. Her Facebook post read:

“How to bypass the 0.5% security levy is to use the same bank with your dealers and customers.

“Na to open all accounts.

“Please List all banks make i start immediately.”

Mixed reactions trailed Nenye’s bypassing advice.

Nigerians divided over the 0.5% cybersecurity levy

Ndidi Amaka Vera said:

“Na to go buy a bigger piggybank.”

Christy Adubasim said:

“Intra bank transfer is the best to by cut this ridiculous levy. Same bank transfer.”

Ngunan Atime said:

“I don’t understand oooo somebody should explain.”

Adaora Endurance Orafu said:

“Nawa, na so they wan finish my tiri five for Bank.”

Sharon Gracia said:

“Someone should break it down to my understanding.

“The English I too no understand am Abeg.”

Ishiagu Son said:

“Opay, palmpay etc still remains the best.

“Chiboo anuo ozo.”

Man explains the CBN’s 0.5% cybersecurity levy

Meanwhile, Fox Nigeria previously reported that a man had broken down the CBN’s new 0.5% cybersecurity levy directive to commercial banks.

Sharing his thoughts on the new initiative, @OurFavOnlineDoc, a Nigerian medical professional in the diaspora, said it was “crazy at this point.”

Lamenting on X, @OurFavOnlineDoc described it as mass financial stifling. He went on to break down what it meant for Nigerians.

Source: Fox Nigeria


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