Starting from September 9, 2024, OPay will implement a one-time fee of N50 on electronic transfers of N10,000 and above to personal and business accounts.
This move is in accordance with new regulations from the Federal Inland Revenue Service (FIRS).
In a notice issued on Saturday, OPay informed its customers of the upcoming fee, stating: “Dear valued customers, please be informed that starting September 9, 2024, a one-time fee of N50 will be applied for electronic transfers of N10,000 and above paid into your personal or business account in compliance with Federal Inland Revenue Service regulations.”
The company clarified that this charge is a government requirement and not a source of revenue for OPay. “It is important to note that OPay does not benefit from these charges in any way as it is directed entirely to the Federal Government,” the notice read.
This fee introduction aligns with the Federal Government’s ongoing efforts to generate revenue from electronic transactions through FIRS regulations.
