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Two fintech companies: Opay and Moniepoint, have revealed that the Federal Government has imposed a N50 Electronic Money Transfer Levy from every inflow of N10,000 and above received by customers.
The two fintech companies made the revelation in terse statements they sent on Saturday to their customers nationwide.
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Opay said: “Dear valued customers, please be informed that starting September 9, 2024, a one-time fee of N50 will be applied for electronic transfer of N10,000 and above paid into your personal or business account in compliance with the Federal Inland Revenue Service regulations.
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“It is important to note that OPay does not benefit from these charges in any way as it is directed entirely to the Federal Government.”
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