The federal government has introduced a one-time fee of N50 on electronic transfers exceeding N10,000 into personal and business accounts on Opay.
In a notice sent to customers on Saturday, Opay announced that the new charge, which complies with Federal Inland Revenue Service (FIRS) regulations, will take effect from September 9, 2024.
“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,” the statement read.
Opay clarified that this fee is not for its own benefit but is imposed as part of government requirements.
“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.
