Nigerian Banks to Impose N50 Charge on Electronic Transfers Above N10,000 from 2026
Nigerian banks, led by UBA, will implement a N50 stamp duty charge on electronic transfers exceeding N10,000 from January 1, 2026. This move aligns with the Central Bank of Nigeria's cashless policy, introducing fees for transactions above N500,000.
The charge aims to generate revenue and promote digital payments. UBA assures customers of transparency and timely updates on banking changes.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
Read full article
Continue on Legit NG
Share
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Free · one email per week · unsubscribe anytime
Related Stories
Business
Nigerian Banks Notify Customers of N50 Stamp Duty on Electronic Transfers
Business
Nigerian Banks Alert Customers of New Electronic Transfer Charges Under Tax Reforms
Business
Nigerian Banks Face Backlash Over New Electronic Transaction Deductions
Business
Nigerians to Pay 7.5% VAT on Bank Transfers and USSD Transactions from January 19, 2026
Business
Nigerian Banks Deduct 10% Tax on Savings Account Interest Under New Laws
Business
Nigerian Government to Scrap Five Bank Charges in 2026 Tax Reform
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
