Hot Stories

Viral Video Of Former Militant Leader, Asari Dokubo Offering 'Special Water' To His Recruits

Seyi Vibez Part Ways With Record Label Boss, Dapper

D’banj Was First Nigerian Artist To Gain Global Popularity – Davido (Video)

Burna Boy Does Not Deserve A Spot Among Nigeria’s Top Three Artists – Daniel Regha

Romantic Moment Nikos Joined Young Jonn On Stage At Atlanta Show (Video)

Update: Sowore Released And Passport Handed Back After Brief Arrest

DSS Arrests Omoyele Sowore On Return To Nigeria

2 Tesla Cars, 500M For My Parents, 5 Private Jet - Actress Nkechi Blessing Rolls Out Bride Price List

Moment Young Jonn Attempted To Lift A Plus-size Woman At A Show (Video)

Why Didn’t You Do Anything Sensible After WWTBM – Isbae U Asks Frank Edoho, He Responds (Video)

Lady Applauded For Returning iPhone 14 Found In Bus To Owner

Why I Left Music For Acting – Dakore Egbuson

Yhemo Lee And Thayour Expecting First Child (Photo)

Psychologist Shares The Fastest Way To Get Over A Heartbreak

I Plan To Have Kids – Bobrisky

My Crush On BBNaija’s Shaun Has Increased Tenfold – Toke Makinwa

Davido’s Brother, Adewale Adeleke And Wife, Welcome Second Child

Meeting Wande Cole Is A Blessing For Me – Fireboy

Media Personality, Simi Drey Is Pregnant With Her First Child (Photos/Video)

Abia State Polytechnic Staff Jubilate As Gov Otti Pays Salary Arrears Accumulated By Previous Administrations (Videos)

FG Imposes N50 Levy On Transactions Above N10,000

Posted by Thandiubani on Mon 09th Sep, 2024 - tori.ng

Some online payment platform stated that the charges in line with the Federal Inland Revenue Service (FIRS) regulations, will take effect from September 9, 2024.

The government of President Bola Tinubu has imposed a N50 Electronic Money Transfer Levy (EMTL) on every inflow of N10,000 or more received by customers of Fintech companies such as Opay, Moniepoint, and others.

This was made public on Saturday, September 7, by the online payment platforms.

The platforms stated that the charges are in line with the Federal Inland Revenue Service (FIRS) regulations, will take effect from September 9, 2024.

“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.

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,” the notice reads.

Similarly, Moniepoint, in a terse notification to its customers on Saturday, said: “A N50 fee would be charged on inflows you receive of N10,000 and above from Monday, September 9, 2024. Your BRM is available to answer questions you might have.”