In a move compliant with Federal Inland Revenue Service (FIRS) regulations, leading fintech companies Opay and Moniepoint have announced the implementation of a N50 fee on electronic money transfers exceeding N10,000.
The new charge, set to take effect on 9 September, applies to both personal and business accounts.
Opay and Moniepoint, two of Nigeria’s prominent fintech companies, communicated the change to their customers through a message titled “FGN Electronic Money Transfer levy,” which began circulating on Saturday.
