If you use OPay, PalmPay or Moniepoint, you have probably seen a “Dear Customer” message about the ₦50 stamp duty on transfers. Here is the short version: from 1 January 2026, the ₦50 charge on electronic transfers of ₦10,000 and above is now deducted from the sender, not the receiver. The charge itself is not new — it is the Electronic Money Transfer Levy (EMTL) that has been collected on large inflows for years — but the Nigeria Tax Act 2025 formally recategorised it as stamp duty and moved who pays it. This explainer breaks down what the 50 naira stamp duty on transfers OPay PalmPay Moniepoint users now see, which transfers attract it, how much you actually pay, and the legitimate ways to keep your costs down.
What the ₦50 stamp duty on transfers actually is
The ₦50 is the Electronic Money Transfer Levy, a single flat charge on electronic inflows of ₦10,000 and above. It is not a percentage, and it is not a fintech invention. The money is remitted to the Federal Inland Revenue Service (FIRS), which is why it appears on your statement as a levy or stamp duty rather than a service fee.
Under the Nigeria Tax Act 2025, the EMTL is now formally treated as stamp duty. According to Proshare, banks and fintechs began charging ₦50 per electronic transfer from ₦10,000 with effect from Thursday, 1 January 2026, as part of implementing the Act. In practice, nothing about the amount changed — only the label and the person it is taken from.
Three things are worth holding on to:
- It is flat. A ₦10,000 transfer and a ₦500,000 transfer both attract ₦50.
- It is per qualifying transfer. Five separate transfers of ₦10,000 or more in a day can mean five deductions.
- It goes to FIRS. OPay, PalmPay and Moniepoint collect it; they do not keep it.
What changed on 1 January 2026 for OPay, PalmPay and Moniepoint users
Before: the receiver paid
Previously, the ₦50 was deducted from the receiver’s inflow. If someone sent you ₦20,000, you might see ₦19,950 land in your wallet. That model caused constant friction — recipients blamed senders, senders blamed the app, and customer care tickets piled up over amounts people did not recognise.
Now: the sender is charged
From 1 January 2026, the sender bears the ₦50, so the recipient gets the full amount. If you send ₦20,000, the recipient receives ₦20,000, and the ₦50 is either added to your debit or deducted from your balance, depending on how the app presents it.
The December 2025 alerts
Fintechs did not spring this on users. In December 2025, OPay, PalmPay, Moniepoint and others sent in-app messages and emails notifying customers that from 1 January 2026, transfers of ₦10,000 and above would attract the ₦50 charge on the sender’s side, in line with the Nigeria Tax Act 2025. Reports at the time, including from Legit.ng and Proshare, confirmed that banks such as UBA and Sterling sent similar notices. If you deleted that message without reading it, this is the follow-up.
Which transfers attract the charge — and which don’t
Transfers that attract the ₦50
- Electronic transfers of ₦10,000 and above to another person’s account or wallet.
- Transfers into personal and business accounts held with banks and fintechs, where the receiving institution applies the levy.
Transfers that do not
- Anything below ₦10,000. A ₦9,999 transfer attracts no stamp duty. The threshold is the trigger, not the amount.
- Some transfers to your own account and certain savings or wallet-to-wallet movements may be exempt. This varies by provider, so confirm inside the app before you assume.
- POS cash withdrawals are not transfers. They are cash-out transactions, so the EMTL does not apply to them directly. However, as explained below, POS operators have raised their own charges and cited the levy as one reason.
How much you actually pay: quick examples
| Amount sent | Stamp duty | What the recipient gets |
|---|---|---|
| ₦9,999 | ₦0 | ₦9,999 |
| ₦10,000 | ₦50 | ₦10,000 (sender pays ₦10,050 in total, or ₦50 is deducted from the sender’s balance) |
| ₦50,000 | ₦50 | ₦50,000 |
| ₦250,000 | ₦50 | ₦250,000 |
Notice the ₦50,000 example: the charge is still ₦50, not ₦250. Anyone telling you the levy is a percentage of your transfer is wrong.
What you should compare is the all-in cost of a transfer — stamp duty plus any transfer fee the app or bank charges. Some channels waive transfer fees on small amounts but apply the stamp duty; others charge a fee but handle the levy differently. Before you confirm any transfer, look at the fee breakdown screen. If the total cost on a ₦15,000 transfer matters to you, a bank transfer with a lower fee may beat a wallet transfer with a higher one, even though the ₦50 is the same everywhere.
Why the charge moved to the sender
The Nigeria Tax Act 2025 formally reclassified the EMTL as stamp duty and fixed it on the sender. The logic is administrative: a tax paid at the point of sending is cleaner to collect, easier to explain on a receipt, and removes the disputes that came from recipients seeing shortfalls in their inflows. Under the old model, a receiver had little control over whether a sender’s transfer crossed ₦10,000 — yet the receiver bore the charge. Now the person making the decision to send a large amount also bears the cost.
It is also worth being clear about who keeps the money. The fintech is a collection agent. The ₦50 is remitted to FIRS, so complaining to OPay or Moniepoint about the existence of the charge will not make it disappear — but complaining about a wrong deduction can get you a refund.
Legitimate ways to reduce or avoid the ₦50
You can reduce your exposure to the charge without breaking any rule. What you should not do is deliberately split a single payment into smaller pieces purely to dodge tax — that is structuring, and it is not worth the risk for ₦50.
- Keep small transfers under ₦10,000 where it genuinely makes sense. If you are sending ₦9,500 for airtime top-up or a small purchase, you pay nothing. If you are paying a ₦50,000 supplier invoice, splitting it into six transfers to avoid ₦50 is both suspicious and administratively messy.
- Choose the channel with the lowest all-in cost for the amount. Compare the stamp duty plus transfer fee across your bank app, OPay, PalmPay and Moniepoint before sending large sums. The ₦50 is fixed; the transfer fee is not.
- Check the fee breakdown before confirming. Most apps show the levy as a separate line. If you see a charge that looks like a percentage rather than ₦50, stop and query it.
- Batch payments where possible. If you must pay several people, one larger transfer to a trusted intermediary who distributes the funds can reduce the number of qualifying transfers — but only where that arrangement is genuine and documented.
What this means for small businesses and POS operators
For a trader receiving or sending dozens of ₦10,000+ transfers a month, the ₦50 adds up quietly. Fifty qualifying transfers is ₦2,500 a month — small per transaction, noticeable over a year. Build it into your pricing rather than absorbing it silently, and keep a simple record of deductions so your bookkeeping matches what left your account.
POS operators have taken a more visible route. According to TheCable, operators across Nigeria raised withdrawal charges from about ₦100 to ₦150 or ₦200 per ₦5,000 transaction, citing the electronic levy and cash scarcity. TheCitizen reported similar increases in December 2024, when fintechs first began notifying customers about the ₦50 EMTL. Note the distinction: the stamp duty applies to transfers, not to POS cash withdrawals, but operators say the levy and cash availability affect their overall costs. If a POS agent quotes you a higher withdrawal charge, ask them to break it down — the ₦50 is not a withdrawal fee.
Common questions and complaints
Double charges and wrong deductions
If you are charged ₦50 twice on a single transfer, or charged on an amount below ₦10,000, raise a ticket in the app immediately. Include the transaction reference, the amount, the date and a screenshot of the deduction. OPay, PalmPay and Moniepoint all have in-app support and complaint channels; escalate to their social media support desks if the ticket stalls. Keep the reference number — it is what gets a refund processed.
Why the alerts look different across apps
Each fintech words its notice differently: some call it “stamp duty”, others “EMTL” or “electronic levy”. The underlying charge is the same. Do not assume a different label means a different fee.
Where to confirm the official rate
Check FIRS and CBN notices, and the fee schedule published inside your app, rather than relying on forwarded WhatsApp messages. Where sources disagree on fine details — for example, exactly which wallet-to-wallet or own-account movements are exempt — treat your provider’s in-app fee breakdown as the final word for your transaction.
Conclusion
The ₦50 stamp duty on OPay, PalmPay and Moniepoint transfers is a flat levy on electronic transfers of ₦10,000 and above, now paid by the sender under the Nigeria Tax Act 2025 and remitted to FIRS. It is not a percentage, it is not new money, and it is not kept by your fintech. Know the threshold, check the fee breakdown before you confirm, compare all-in costs across channels, and query any deduction that looks wrong. For most users, that is all the management the charge needs.
Frequently Asked Questions
Does OPay, PalmPay or Moniepoint charge ₦50 on every transfer?
No. The ₦50 applies only to electronic transfers of ₦10,000 and above. Transfers below ₦10,000 do not attract the charge, and POS cash withdrawals are not transfers.
Who pays the ₦50 stamp duty now — sender or receiver?
The sender. From 1 January 2026, under the Nigeria Tax Act 2025, the ₦50 is deducted from the sender, so the recipient receives the full amount sent.
Can I avoid the ₦50 stamp duty by splitting my transfer?
You can legitimately keep individual transfers below ₦10,000 where it makes sense, but deliberately splitting one payment into smaller pieces to dodge the tax is structuring and should be avoided. Compare channel costs instead.
Is the ₦50 stamp duty charged on transfers to my own account?
Some transfers to your own account and certain savings or wallet movements may be exempt, but this varies by provider. Confirm in your app’s fee breakdown before assuming you will not be charged.
What is the difference between EMTL and stamp duty under the Nigeria Tax Act 2025?
They are the same ₦50 charge. The Electronic Money Transfer Levy was formerly collected on qualifying inflows; the Nigeria Tax Act 2025 recategorised it as stamp duty and moved it to the sender, with the money still remitted to FIRS.
Sources and further reading
- “Dear Customer”: OPay, Moniepoint, others send messages on new charges – 0
- 奈國電子交易稅增加交易成本
- PoS operators increase withdrawal charges, blame electronic levy, cash scarcity – Advertisement
- e-transfer levy: Consumers kick as POS operators raise charges – TheCitizen – It's all about you
- Nigeria Tax Act 2025 recategorises the ₦50 EMTL as St… – MomoCalc
