BREAKING NEWS: “No More N200/ N10K”: PoS Operators Begin New Charges As FG Makes Deductions On Opay, Others

Point of Sale (PoS) operators have informed Nigerians about an adjustment in their service charges, which has been influenced by the N50 Electronic Money Transfer Levy (EMTL) implemented by fintech platforms.CONTINUE FULL READING>>>>>

This levy was introduced by the Federal Inland Revenue Service (FIRS) in line with the Nigerian government’s directives and is part of the provisions set forth in the 2020 Finance Act.

Fintech companies explain that this initiative is in accordance with the Stamp Duty Act, mandating a charge of N50 for every transaction of N10,000 and above credited to recipients’ accounts.CONTINUE FULL READING>>>>>