CURRENT BANK TRANSACTION TAXES IN NIGERIA!

CURRENT BANK TRANSACTION TAXES IN NIGERIA!

CYBERSECURITY LEVY: SENDERS now bear;

₦5 on ₦1,000

₦50 on ₦10,000

₦500 on ₦100,000

₦5,000 on ₦1,000,000

₦50,000 on ₦10,000,000

STAMP DUTY: RECEIVERS bear;

₦50 on ₦10,000

₦50 on ₦100,000

₦50 on ₦1,000,000

₦50 on ₦10,000,000

TRANSFER FEES: SENDERS bear;

₦10 on ≤₦5,000

₦25 on ₦5,001 — ₦50,000

₦50 on >₦50,000

VALUE ADDED TAX: SENDERS bear;

₦0.75 on ₦10 Transfer fee

₦1.875 on ₦25 Transfer fee

₦3.75 on ₦50 Transfer fee

SMS FEE: SENDERS & RECEIVERS bear;

₦4 on each electronic transfer notification.

All applicable on eligible electronic transactions.

Credit: Tijani Alabi Fatai

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