OPay has revealed a new fee structure for electronic transfers to personal and business accounts starting September 9, 2024. A one-time charge of N50 will be imposed on transfers of N10,000 or more, in accordance with regulations set by the Federal Inland Revenue Service (FIRS).
In a recent announcement, OPay informed its customers: “Beginning September 9, 2024, a N50 fee will be applied to electronic transfers of N10,000 or above to your personal or business accounts, as mandated by FIRS regulations.
The company emphasized that this fee is a government requirement and does not contribute to OPay’s revenue. “OPay does not gain from these charges; they are directed entirely to the Federal Government,” the statement clarified.
This fee is part of the Federal Government’s initiative to increase revenue from electronic transactions through FIRS regulations.
