Nigerians to Face Higher Bank Transfer Charges from 2026 Due to New Tax Framework
Starting in January 2026, Nigerians will experience higher charges for bank transfers as a result of changes in the tax framework. The new policy will see a flat 50 stamp duty fee applied to transfers of 10,000 naira and above, with the sender bearing the increased cost.
This move aims to strengthen tax collection and enforce compliance with stamp duty regulations. Currently, banks already charge transfer fees ranging from 10 to 50 naira based on the transaction amount.
The shift towards digital payments and the adoption of fintech platforms like Opay, Palmpay, and Moniepoint are expected to continue growing amidst the increased transfer costs.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
Read full article
Continue on Legit NG
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Nigeria to Stop Bank Charges in 2026 Tax Reform
Nigerians to Pay 7.5% VAT on Bank Transfers and USSD Transactions from January 19, 2026
Nigerians to Pay 7.5% VAT on Mobile Transfers and USSD from Next Week
Nigerian Government to Debit N75 from Bank Accounts for Electronic Transfers in 2026
Nigerian Government to Scrap Five Bank Charges in 2026 Tax Reform
Nigeria Introduces New VAT, Stamp Duty, and Bank Fees in 2026
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
