FG’s Electronic Transfer Levy Revenue Hits ₦360bn in 10 Months
Nigeria’s Federal Government has announced that revenue from the Electronic Money Transfer Levy (EMTL) has surged to ₦360.29 billion between January and October 2025, marking a 110% jump from the same period last year.
The levy a ₦50 charge on electronic transfers from ₦10,000 and above has grown rapidly following the full rollout across banks and fintech platforms in late 2024. October delivered one of the strongest months yet, with nearly ₦50bn collected.
Officials say the rise reflects Nigeria’s booming digital payment ecosystem, while analysts warn the levy may still pose a burden for frequent low-value users.
More updates shortly…
