Transfers above N10k: Banks to start charging N50 stamp duty from January 1
Home > market news
Financial News
Transfers above N10k: Banks to start charging N50 stamp duty from January 1
31 Dec, 2025
FOLLOWING the implementation of the Tax Act, banks will start charging senders a N50 stamp duty on electronc transfers of N10,000 and above from January 1, 2026. The stamp duty or electronic money transfer levy (EMTL) is a single, one-off charge of N50 on electronic receipt or transfer of money deposited in any commercial money bank or financial institution on any type of account on sums of N10,000 and above...........................….......READ MORE
We use cookies on our websites to improve your user experience and our services, and to analyze the use of our website.
In accordance with NDPR, continuing to use this platform indicates your consent to the processing of your
personal data by Osborne Capital Markets Limited and our partners as detailed in our Privacy Policy.
To learn more, read our Privacy Policy and Data Consent Policy