The Federal Government’s revenue from electronic money transfer levies doubled in the first ten months of 2025, reaching N360.29 billion. This represents a significant increase compared to the N170.92 billion collected during the same period in 2024.
The levy, implemented in December 2024, charges a N50 fee on electronic transfers of N10,000 or more. Proceeds are shared among the federal, state, and local governments, supplementing non-oil revenue streams.