Opay Announces Planned Implementation Of N50 Charge On Electronic Transfers Over N10,000

Opay has announced a new fee structure for its customers, effective September 9, 2024.

In compliance with Federal Inland Revenue Service (FIRS) regulations, a one-time fee of N50 will be levied on electronic transfers exceeding N10,000 into personal and business accounts.

The notice, sent out to customers on Saturday, emphasizes that this charge is mandated by the federal government and is not a revenue-generating measure for Opay.

The company clarified that the fee is collected solely on behalf of the government and will not benefit Opay in any way.