The Central Bank of Nigeria (CBN) has clarified that it has not reinstated the cybersecurity levy, which was previously suspended.

In a statement released on Friday, the CBN addressed reports claiming that the levy had been reintroduced based on the bank’s “Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for the Fiscal Years 2024-2025.”

The bank explained that the guidelines referenced were issued before December 31, 2023, and do not reflect any recent policy changes.

“Some recent media publications referencing aspects of the guidelines refer to policy positions of the Bank issued prior to 31st December 2023, which have changed in light of revisions and updates in 2024,” the CBN stated.

Specifically addressing the cybersecurity levy, the CBN reiterated that it had been suspended in May 2024.

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“One example is the Cybersecurity Levy, which was suspended in May 2024, superseding the circular reported in the Guidelines,” the statement added.

The bank stressed that the guidelines should be seen as a record of policies and circulars issued up until the end of 2023, not as new directives.

“The guidelines must primarily be viewed as a record of policies, circulars, and directives issued up to the end of 2023,” the statement continued.

The CBN reassured the public that it would continue to provide clear monetary policy directions for the benefit of the economy, stressing the importance of accurate reporting on such matters.