National Telescope national telescope newspaper
OPay has announced the introduction of a new N50 charge on electronic transfers of N10,000 and above to both personal and business accounts, in compliance with Federal Inland Revenue Service (FIRS) regulations.
The payment platform made this announcement in a notice to its customers on Saturday, stating, “Dear valued customers, please be informed that starting September 9, 2024, a one-time fee of N50 will be applied for electronic transfers of N10,000 and above paid into your personal or business account, in compliance with the Federal Inland Revenue Service regulations.”
OPay clarified that this new fee is mandated by the government and does not serve as a revenue source for the company.
“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 added.
The implementation of this levy is part of the Federal Government’s strategy to generate revenue from electronic transactions, in line with FIRS guidelines.
