PulseNets has learned that the Federal Government will impose a one-time charge of N50 on electronic transfers exceeding N10,000 made into personal and business accounts via Opay.
This development, PulseNets has reported, aligns with the Federal Inland Revenue Service (FIRS) regulations and will come into effect on September 9, 2024.
In a notice sent to its users, Opay stated: “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.”
Speaking to PulseNets, Opay clarified that this fee is not a revenue stream for the platform but solely a government-mandated requirement.
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“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.
