OPay has announced the introduction of a new fee on electronic transfers to personal and business accounts, in accordance with Federal Inland Revenue Service (FIRS) regulations.
Effective September 9, 2024, a one-time charge of N50 will be applied to transfers of N10,000 and above.
In a notice to its customers on Saturday, OPay stated, “Dear valued customers, starting September 9, 2024, a one-time fee of N50 will be charged for electronic transfers of N10,000 and above into your personal or business account, in compliance with FIRS regulations.”
The company emphasized that these charges are mandated by the government and do not serve as a revenue source for OPay.
“Please note that OPay does not benefit from these charges, which are entirely directed to the Federal Government,” the notice read.
This fee introduction aligns with the Federal Government’s initiative to generate revenue from electronic transactions through FIRS regulations.
