Nigeria's Federal Inland Revenue Service (FIRS) has reportedly directed the implementation of the electronic money transfer levy beginning 9 September 2024. The levy was originally introduced as part of the Finance Act 2020 and regulated at the end of 2021. It is equal to NGN 50 on electronic transfers of NGN 10,000 and above, including on transfers to personal or business accounts, with the receiving bank required to collect and remit the levy. For equivalent transfers carried out in other currencies, the levy is charged at the exchange rates determined by the Central Bank of Nigeria.