Nigerians to pay more tax as FG begins N50 Electronic Mon

Nigerians to pay more tax as FG begins N50 Electronic Mon …C0NTINUE READING HERE >>>

The Federal Government of Nigeria has started a new levy on electronic money transfers. Starting September 9th, 2024, a one-time fee of N50 will be applied to electronic transfers of N10,000 and above paid into personal or business accounts.

The levy, which is in compliance with the Federal Inland Revenue Service (FIRS) regulations, will not benefit OPay or any other financial institution, but will be directed entirely to the Federal Government.

This new policy is expected to…

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