Nigeria starts deducting a N50 electronic levy on transactions over N10,000 through fintech apps.

The Nigerian government has begun deducting a N50 electronic levy from transactions over N10,000 made through fintech companies like Opay and Moniepoint, as mandated by the Finance Act 2020. Despite initial opposition, the deductions started on December 1, with fintech companies notifying their users.

December 02, 2024
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