Lagos Got 58.5% of Electronic Money Transfer Levy in June
Lagos State received 58.5% of the Electronic Money Transfer Levy (EMTL) revenue in June 2025, according to data presented at the Federal Inland Revenue Service (FIRS) meeting. The total EMTL collection for June was N58.5 billion, up from N49 billion in May.
The EMTL charge of N50 per qualifying transfer was introduced in 2020 to replace the stamp duty charge on electronic receipts. Lagos dominated the revenue flow from digital transactions, with the Federal Capital Territory (FCT) coming in second.
The EMTL revenue is a steady source of income, while the stamp duty component fluctuates monthly. Additionally, the FIRS announced the launch of an electronic invoicing solution to streamline tax payments in the country, with major companies like MTN Nigeria already onboard.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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