Nigerians Struggle with High Electronic Money Transfer Levy in July 2025

Nigerians faced increased financial burden due to the Electronic Money Transfer Levy (EMTL) in July 2025, with proceeds reaching a high of billions. The EMTL, a government levy on electronic fund transfers, saw a significant rise compared to the previous year.

The levy applies to transactions conducted via mobile money, internet banking, and electronic payment methods, with a charge of N50 per transfer. The government expanded the scope of the levy in August 2024 to include more transactions, contributing to the revenue increase.