09
May
Many Nigerians have condemned the introduction of a new levy on electronic banking transactions, with some saying it will push them back to using cash. The Central Bank of Nigeria (CBN) has told financial institutions the 0.5% levy intended to raise money to enhance cybersecurity will take effect in two weeks’ time. Nigeria is experiencing its worst economic crisis in a generation, and many people say the levy will cause further hardship as they struggle to afford basic items. Dr Abdulrazaq Fagge, who teaches economics at Yusuf Maitama University, tells the BBC this is a wrong move by the government…