Nigerians will now pay N50 levy on every transaction above N10,000 they carry out on Fintech companies like Opay, Moniepoint, Palmpay, MOMO and others.
This levy is coming on the heels of the Federal Inland Revenue Service’s recent directives to the Fintechs. At the weekend Opay and Moniepoint sent notifications to customers on the commencement of the electronic levy for transactions above N10,000.
“Dear customer, you will be charged stamp duty of N%) on inflows of N10,000 and above. Moniepoint collects and remits this on behalf of and to FIRS,” Moniepoint sent messages to its users.
Nigerians’ reaction on X.
@Yusufaa: “It’s not today oooo. This has been on for over 2 or 3yrs now. This your statement is not correct.”
@ndukwemeruwa: “It’s pure extortion to use some of these funds to buy presidential jet and renovate government houses.”
@Dambatta_1: “When are they going to start charging for oxygen?”
@AmeboThe: “This is not new. Check the finance Act of 2019. It was introduced by Buhari’s government.”
