OPay has introduced a new charge on electronic transfers to personal and business accounts in line with Federal Inland Revenue Service (FIRS) regulations. Effective from September 9, 2024, a one-time fee of N50 will be imposed on transfers of N10,000 or more.
In a notice issued to customers on Saturday, OPay informed them of the upcoming charge, stating that the fee would be applied to electronic transfers of N10,000 and above into personal or business accounts, in compliance with FIRS regulations.
The company emphasized that the charge is mandated by the government and not a revenue source for OPay. It clarified that the platform does not benefit from the fee, as the entire amount goes to the Federal Government.
This move aligns with the government’s efforts to increase revenue from electronic transactions through FIRS regulations.
