OPay has introduced a new fee of N50 on electronic transfers into personal and business accounts for transactions above N10,000.
This new charge, effective from September 9, 2024, aligns with regulations set by the Federal Inland Revenue Service (FIRS).
The payment platform clarified that the fee is not for its profit but strictly follows government requirements.
This move is part of the Federal Government’s initiative to boost revenue from digital transactions under FIRS guidelines.
Customers using OPay are expected to comply with this new policy when conducting transfers.
In a notice to its customers on Saturday, 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.
“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.”
