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BREAKING; Federal Govt begins N50 deductions from financial institutions

The federal government has commenced N50 electronic levy deductions from transactions of N10,000 and above made by users of financial technology (Fintech) companies, including Opay, Moniepoint, Kuda, and others.

The levy, called Electronic Money Transfer Levy (EMTL), introduced under the Finance Act 2020, places a singular and one-off levy of N50 on the recipient of any electronic receipt or transfer of N10,000 or above, and was earlier to take effect from September 9.

The introduction of the EMTL was, however, met with opposition from Nigerians, with various groups including the National Association of Nigerian Students (NANS) calling on the federal government to reverse its position on the implementation of the levy.

Meanwhile, in a notice sent to customers earlier in September, Opay explained that the levy was imposed by the Federal Inland Revenue Service (FIRS), stating however that it did not benefit from it.

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“Please be informed that starting September 9, 2024, a one-time of N50 will be applied to electronic transfers of N10,000 and above paid into your personal or business account in compliance with the Federal Inland Revenue Service (FIRS) regulations.

“It is important to note that Opay does not benefit from this charge in any way as it is directed entirely by the federal government,” Opay explained in its earlier notice.

In a recent development, the fintech companies have again notified their customers that the implementation of the N50 EMTL deduction has commenced from December 1, 2024.

Opay, in a message sent to its users on Saturday (also shared via its app), explained that the electronic levy deduction begins on December 1.

“Dear Customer, in line with the FIRS, the EMTL applies starting from December 1st, 2024,” the message reads.

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BREAKING: FG begins N50 electronic levy deductions from Opay, Moniepoint, others’ users By
Adegbite Taoheed

December 2, 2024

The federal government has commenced N50 electronic levy deductions from transactions of N10,000 and above made by users of financial technology (Fintech) companies, including Opay, Moniepoint, Kuda, and others.

The levy, called Electronic Money Transfer Levy (EMTL), introduced under the Finance Act 2020, places a singular and one-off levy of N50 on the recipient of any electronic receipt or transfer of N10,000 or above, and was earlier to take effect from September 9, Tribune Online reported.

The introduction of the EMTL was, however, met with opposition from Nigerians, with various groups including the National Association of Nigerian Students (NANS) calling on the federal government to reverse its position on the implementation of the levy.

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Meanwhile, in a notice sent to customers earlier in September, Opay explained that the levy was imposed by the Federal Inland Revenue Service (FIRS), stating however that it did not benefit from it.

ALSO READ: NANS to FG: Reverse N50 fintech EMTL charges

“Please be informed that starting September 9, 2024, a one-time of N50 will be applied to electronic transfers of N10,000 and above paid into your personal or business account in compliance with the Federal Inland Revenue Service (FIRS) regulations.

“It is important to note that Opay does not benefit from this charge in any way as it is directed entirely by the federal government,” Opay explained in its earlier notice.

EMTL charges

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In a recent development, the fintech companies have again notified their customers that the implementation of the N50 EMTL deduction has commenced from December 1, 2024.

Opay, in a message sent to its users on Saturday (also shared via its app), explained that the electronic levy deduction begins on December 1.

“Dear Customer, in line with the FIRS, the EMTL applies starting from December 1st, 2024,” the message reads.

Likewise, Moniepoint in a notice sent to its customers on Saturday, explained that it has commenced implementation of the EMTL charges, clarifying however that the levy will be remitted to the FIRS.

“Dear customer, you will be charged stamp duty of N%) on inflows of N10,000 and above. Moniepoint collects and remits this on behalf and to FIRS,” Moniepoint says.

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Police operatives arrest 5 suspects for alleged murder of 7-year-old boy, Vigilante Commander

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Police operatives arrest 5 suspects for alleged murder of 7-year-old boy, Vigilante Commander

The Police Command in Edo says it has arrested five suspects in connection with two different killings in the state.

This is contained in a statement on Wednesday in Benin, by the Police Public Relations Officer (PPRO) in charge of the command, CSP Moses Yamu.

Yamu said that the killings include an alleged gruesome murder of a 7-year-old boy, and the assassination of a local vigilante commander.

He said that one Mr John Okojabhole, a resident of Jehovah Witness Road, off Elebesunu Street in Irrua, reported the murder of his son, Evans Okojabhole, on Feb. 22.

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According to him, the boy, who had been declared missing 24 hours earlier, was later found dead with his stomach ripped open, his ankles severed, and some fingers cut off.

”His mutilated body was dumped in a bush near their home.

”Following preliminary investigations, two suspects were arrested in connection with the crime.

“The police transferred the suspects to the State Criminal Investigations Department (SCID) in Benin for further investigation.”

The PPRO said that in another incident, the command was investigating the killing of one Victor Ogedengbe, 50, the Vigilante Commander of Erah Camp in Owan East Local Government Area of the state.

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”Ogedengbe was reportedly attacked and killed in his farm on Feb. 25 by suspected herdsmen.

”The Chairman of Owan East LGA reported the incident at Afuze Police Division, prompting a swift investigation that led to the arrest of three suspects.

”The suspects are all residents of Erah community, and they have also been transferred to the SCID for further interrogation,” he said.

Yamu, disclosed that the police had also increased security in Uzanu and Okpekpe communities following the recent killing of two farmers by suspected herdsmen.

He said the Commissioner of Police, Betty Otimenyin, has reaffirmed the command’s commitment to ensuring the safety of residents in the state.

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He quoted the commissioner as urging the public to remain vigilant and cooperate with law enforcement agents by reporting suspicious activities.

“We appreciate the support from the general public and appeal for continued cooperation. If you see something, say something,” the police boss was quoted as saying. (NAN)

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Electoral body files lawsuit against IGP over alleged unlawful detention, office sealing

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Electoral body files lawsuit against IGP over alleged unlawful detention, office sealing

The Osun State Independent Electoral Commission (OSSIEC) and its chairman, Mr. Hashim Abioye, have taken legal action against the Inspector General of Police, Kayode Egbetokun, in a case filed at the Federal High Court in Osogbo.

The lawsuit concerns the alleged unlawful detention of OSSIEC staff and the sealing of the commission’s office.

Joined in the suit, numbered FHC/OS/CS/41/2025, is the Osun State Commissioner of Police.

The plaintiffs are seeking an injunction to prevent further arrests of OSSIEC personnel and to secure the release of those currently detained.

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In the originating summons, dated February 25, 2025, and signed by their counsel, Maruf Adediran, the plaintiffs argue that the police actions have violated their fundamental human rights.

They are asking the court to rule that the sealing of their office and the threat of further arrests are illegal.

Additionally, the plaintiffs are demanding N2 billion in damages for what they describe as an infringement on their rights to liberty and private life.

Part of the reliefs sought read: “A declaration that, under Chapter IV of the 1999 Constitution of Nigeria (as amended) and the African Charter on Human and Peoples’ Rights, the defendants were not justified in invading and sealing off the plaintiffs’ office and threatening to arrest OSSIEC staff in disregard of their rights, particularly in relation to the peaceful, free, and fair election conducted on February 22, 2025.”

The plaintiffs have also requested the court to direct the police to vacate the OSSIEC office immediately and release the detained staff members. They are seeking an injunction to prevent any further police interference with the commission’s activities.

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This legal action follows growing tensions surrounding the local government elections held by OSSIEC on February 22, 2025.

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APC is united, stronger, focused, and supportive of President Tinubu’s Govt – Governor

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APC is united, stronger, focused, and supportive of President Tinubu’s Govt – Governor

Gov. Hope Uzodinma of Imo says the All Progressives Congress (APC) is united, stronger, focused and supportive of President Bola Tinubu’s administration.

Uzodinma said this while briefing newsmen at the end of the party’s caucus meeting presided over by President Tinubu, at the State House Conference Centre, Abuja, on Tuesday.

The governor debunked claims that the party operated as a one-man show, adding that the APC’s diverse representation across six geopolitical zones, including governors from various states at the meeting, underscored its inclusive nature.

He said the party’s structure, as outlined in its constitution, included multiple leadership positions and a hierarchical framework that ensured broad participation in decision-making processes.

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“Our party is united, stronger, focused, and supportive of the government. We need to celebrate our own.

“The government is heavily supported by the APC, and from time to time, we must show that we are behind the government,” he said.

On internal party democracy, Uzodinma stated that APC was a very large political party with executives at all levels.

“We have our internal mechanism for selection. Why are we winning all these elections? It’s because we have demonstrated high capacity and respect for democracy,” he stated.

The governor said due to good leadership provided by Tinubu, the county was better off in terms of revenue generation which translated to more infrastructure, social change, and other economic dynamics.

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According to him, APC is the party to beat and the envy of other political parties, not only in Nigeria but in Africa.

He said the party had inaugurated the Progressive Institute, its intellectual arm, to conduct research, training for manpower development and to build the intellectual capacity of members.

He said President Tinubu’s efforts in managing insecurity were also commended at the meeting.

“The President has done very well in terms of managing the insecurity in the country, as testified today by one of our members in Zamfara State, where there is relative peace.

“Now, people are going about their businesses. Farmers have gone back to their farms in the southeast,” Uzodinma said.

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The News Agency of Nigeria (NAN) reports that the meeting brought together key party leaders, including Vice-President Kashim Shettima and the President of Senate, Godswill Akpabio.

Dr Abdullahi Ganduje, the APC National Chairman, Gov. Umar Bago of Niger, Sen. Aliyu Wamakko, Gov. Nasiru Idris of Kebbi, Gov. Abdullahi Sule of Nasarawa, among others, also attended the meeting. (NAN)

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