The federal government of Nigeri has passed a bill to make some tax deductions on electronic transactions.
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The bill means that an amount of N50 electronic levy deductions will be done from Opay, Moniepoint, others’ Fintech companies.
It will specifically be on any transactions that has been done in the region of N10,000 and above made by users.
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The bill is similar to that of neighboring county, Ghana where an Electronic Levy is charged on all forms of transfers.
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Those transfer includes transactions from banks and Mobile money, which has been one of the most used source of money transfer in the country.
