OPay has announced the introduction of a one-time fee of N50 for electronic transfers exceeding N10,000 made into both personal and business accounts.
This update was communicated to customers via a notice sent on Saturday, clarifying that the charge is in accordance with the Federal Inland Revenue Service (FIRS) regulations.
The notice further explained that the new fee will come into effect on September 9, 2024. OPay emphasized that the N50 charge is not intended as a source of revenue for the company but is a government-mandated requirement.
The statement reads in part: “Dear valued customers, please be informed that starting September 9, 2024, a one-time fee of N50 will be applied for any electronic transfer of N10,000 and above made into your personal or business account.
This is in compliance with the Federal Inland Revenue Service regulations.”
OPay clarified that the charge will be fully remitted to the federal government and does not benefit the payment platform in any way.
