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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.
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The two fintech companies made the revelation in terse statements they sent on Saturday to their customers nationwide.
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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