The Federal Government in its new announcement that commences from the 9th of September, 2024. Every transactions from Fintech companies from N10,000 and above will be charged a one time payment of N50.
The deduction will go to the Federal Inland revenue (FIRS).
One of the most popular Fintech company in Nigeria, Opay made a statement below regarding the new regulations.
Opay informed its customers, "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."
Other popular Fintech companies affected are Moniepoint, Palmpay, piggyvest, Paystack, Flutterwave, Paga, Carbon, Kuda and others.
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