Electronic transfer levies have generated N80.86bn for the three tiers of government in the first six months of 2023.
According to data obtained from the Federation Account Allocation Committee communique for January to June 2023. It has also followed a surge in electronic transfers that had been recorded in the country, in recent times.
Electronic money transfer levy was introduced as a source of government revenue in the Finance Act 2020, which amended the Stamp Duty Act to tap into the growth of electronic funds transfer in Nigeria.
Recently, the National President, Association of Mobile Money Agents in Nigeria, Victor Olojo, says the EMTL would continue to increase for the foreseeable future.
