Nigerian Government's Earnings from e-Money Transfer Levy Soar 218% to N47.87 Billion

The Nigerian Federal Government's revenue from the e-Money Transfer Levy (EMTL) surged by 218% to N47.87 billion in November 2025 compared to N15.06 billion in the previous year. This increase is linked to the removal of petrol subsidies and the devaluation of the Naira.

The EMTL, introduced in 2023, applies a levy on electronic fund transfers conducted via various platforms, including fintech companies. The expansion of the levy's scope in August 2024 to include fintech firms aims to capture revenue growth in the booming sector.

This move aligns with the government's strategy to regulate and monetize the fintech industry, boosting revenue for the government coffers.