The Federal Government of Nigeria has compelled Opay, one of the Fintech banks in the country to deduct a one-time fee of N50 on electronic transactions from N10,000 for it.
The directive to the bank came from the Federal Inland Revenue Service (FIRS) headed by the former Commissioner for Finance in Oyo State, Zacchaeus Adelabu.
The directive was contained in a message from the bank to its customers.
The directive, which was contained in a message from the bank to its customers will take effect on Monday, September 7, 2024.
The message reads:
“Dear Valued Customer,
“Please be informed that starting September 9th, 2024, a one-time fee of N50 will be applied to electronic transfers of N10,000 and above paid into your personal or business account, in compliance with the Federal Inland Revenue Service (FIRS) regulations.
“It is important to note that OPay does not benefit from this charge in any way as it is directed entirely to the Federal Government.
“Thank you for your understanding.”
