Major financial tech firm, Opay has announced the commencement of N50 charges on electronic transfer above N10,000 to private and business accounts.
According to a notice to it’s customers on Saturday , the company said the charges will take effect from September 9, 2024.
The fintech however informed it’s customers that it does not benefit from the charges, which it described as a directive from the Federal Inland Revenue Services, FIRS.
It said the charges are not sources of revenue for the company, adding that the company has no choice but to obey regulatory authorities.
The notice reads in part; “Dear valued customers, please be informed that starting September 9, 2024, a one-time fee of N50 will be applied for electronic transfer of N10,000 and above paid into your personal or business account in compliance with the Federal Inland Revenue Service regulations.
“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,” Opay said.
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