Dr Samuel Nzekwe, a financial expert, has commended the Federal Government for suspending the implementation of the 0.5 per cent cybersecurity levy on electronic transactions recently introduced by the Central Bank of Nigeria (CBN).
Nzekwe, a former President, Association of National Accountants of Nigeria (ANAN), gave the commendation in an interview with the News Agency of Nigeria (NAN) on Friday in Ota.
The Federal Government had recently asked the CBN to suspend the implementation of the cybersecurity levy policy and ordered a review.
Nzekwe said that suspending the cybersecurity levy would bring relief to Nigerians, as banks were already imposing different charges on customers.
The former ANAN president noted that there were numerous “seen and unseen” charges that banks were charging on various transactions which could not be explained.
The financial expert who noted that the situation had continued to have adverse effects on deposits, advised banks to be transparent in their dealings with depositors.
Nzekwe added that for the timely intervention of the Federal Government, implementation of the policy would have compounded the disposable income of the people aftermath of the fuel subsidy removal. (NAN)
