Nigeria Halts Cybersecurity Tax After Public Outrage

Nigeria has suspended a proposed 0.5% levy on electronic transactions—intended to fund a National Cybersecurity Fund—after widespread public backlash amid a severe economic crisis; the levy would have raised roughly 3 trillion naira annually. Analysts and industry groups warn that pausing the funding could weaken the country’s ability to address a surge in ransomware, insider-supported financial crimes, and numerous Internet-facing systems with known vulnerabilities, potentially increasing cyber risk for citizens and organizations.