The Federal Government has commenced deduction of N50 electronic levy from transactions made by users of OPay, Moniepoint, and other financial technology companies. A notification from OPay and Moniepoint during the weekend to customers confirmed the development. According to the FinTech banks, the levy collection is in line with the Federal Inland Revenue Service, (FIRS)’s recent directives. OPay explained that the electronic levy deduction begins on December 1. “Dear Customer, in line with the FIRS, the EMTL applies starting from December 1st, 2024”, its message reads. Similarly, Moniepoint, in a…
Read MoreFG begins deduction of N50 electronic levy from OPay, Moniepoint users
