Popular fintech company, Opay on Saturday notified its customers and users that it would start charging a one-time fee of ₦50 on electronic transfers above ₦10,000 paid into their personal or business accounts.
Announcing the charges in a message sent to its customers, Opay clarified that the charges, tagged Electronic Money Transfer Levy (EMTL), would become effective as from Monday, September 9, 2024.
The company added that the charges are in compliance with the Federal Inland Revenue Service (FIRS) regulations, adding that the company itself does not benefit in any way from the charges as it is directed entirely to the federal government.
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.
