From January 1, bank customers for Nigeria go begin pay ₦50 stamp duty for electronic transfers of ₦10,000 and above.
Banks talk say na di sender go pay di charge now, no be di receiver again.
United Bank for Africa (UBA) dey tell customers say di fee wey dem dey deduct from di person wey receive money before, dem go now collect am straight from di sender when e dey do transfer.
“The sender now dey bear di stamp duty charge,” di bank talk for notice wey dem give customers.
According to di notice, salary payments and transfers wey happen inside di same bank account no go pay di charge.
Di ₦50 fee wey people sabi before as Electronic Money Transfer Levy (EMTL) don now officially turn stamp duty under recent tax reforms.
Di change follow update for Nigeria tax laws and effort to align digital transaction charges with Federal Inland Revenue Service guidelines.
Fintech companies don earlier signal dis adjustment for 2024, warn customers say transfers of ₦10,000 and above go attract di levy.
Banks talk say di stamp duty different from normal transfer charges and dem go show am clear before transaction complete.
Dem advise customers make dem check official bank notices to know which ones exempt and how di charge go show for their statements.
