The federal government has imposed a one-time fee of N50 on electronic transfers exceeding N10,000 to personal and business accounts on Opay.

In a notice to its customers on Saturday, the online payment platform stated that the charges in line with the Federal Inland Revenue Service (FIRS) regulations, will take effect from September 9, 2024.

Dear valued customers, please be informed that starting September 9, 2024, a one-time fee of N50 will be applied for electronic transfer of N10,000 and above paid into your personal or business account in compliance with the Federal Inland Revenue Service regulations,” the notice read.

The company clarified that the charges are requirements from the President Bola Tinubu-led government and not a source of revenue for the payment platform.

It is important to note that OPay does not benefit from these charges in any way as it is directed entirely to the Federal Government,” it added