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The Nigerian government has drafted a plan to reintroduce the telecommunications tax previously suspended and other revenue-generating measures to secure a $750 million World Bank Loan.
This is according to the recent Stakeholder Engagement Plan for Nigeria – Accelerating Resource Mobilisation Reforms programme between Nigeria and the World Bank.
The document posted on the World Bank’s website showed that the Nigerian government might reintroduce taxes on telecoms, electronic money transaction levies, and other fiscal measures.
The Washington-based World Bank’s contribution of $750 million constitutes a significant portion of the programme’s budget, and the government is expected to contribute $1.17 billion through annual budgetary.
The Central Bank of Nigeria, CBN, on Monday, mandated all banks in Nigeria to collect and remit a 0.5 per cent cyber security levy to the office of the National Security Adviser. Report show that it gave this notice public through its directors of Payment System Management and Financial Policy and Regulation Departments, Chibuzor Efobi and Haruna Mustafa
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