Starting September 9, 2024, OPay users will face a new charge on electronic transfers to personal and business accounts, in accordance with the Federal Inland Revenue Service (FIRS) regulations.
Transfers of N10,000 or more will attract a one-time fee of N50, as confirmed by a company notification issued on Saturday.
The official statement reads:
“Dear valued customers, please note that effective from September 9, 2024, a one-time charge of N50 will apply to electronic transfers of N10,000 and above into personal or business accounts, in compliance with Federal Inland Revenue Service regulations.”
OPay highlighted that these charges are mandated by the government and not designed for profit.
“It is crucial to understand that OPay does not benefit from these charges in any form, as they are fully directed to the Federal Government,” the company clarified.
This move aligns with the Federal Government’s broader initiative to generate revenue through electronic transaction regulations enforced by FIRS.
The new policy marks another step in the government’s effort to streamline revenue collection and enforce compliance in the digital finance space.
For users of OPay, this means adjusting to the new charges while understanding the broader context of national financial regulation.
Be the first to comment