02/01/2026
*Simple Explanation of di New Tax Rule for POS Operators and Customers (From January 1, 2026)*
Na new tax law dey for Nigeria now (dem call am Nigeria Tax Act 2025), e dey change how one small government charge dey work for money wey people dey transfer electronically – like through bank app, USSD (*901 # things), or apps like OPay, PalmPay, and Moniepoint (wey plenty POS people dey use).
Before before, dem dey charge ₦50 government fee (dem been dey call am EMTL) anytime person transfer ₦10,000 or more electronically. Dem dey remove dat ₦50 from the person wey dey receive the money.
*But now, from January 2026:*
Di charge still be ₦50 sharp sharp for any electronic transfer of ₦10,000 or more. Dem don change name call am "stamp duty."
But di big change be dis: Dem go dey remove di ₦50 from the person wey dey SEND the money, NOT the person wey dey receive am again. Dis ₦50 na extra on top of normal transfer charge wey your bank or app dey take (like ₦10–₦50 depending on how much).
*How E Dey Affect POS Operators and Customers*
When person come withdraw cash straight from POS (cash-out): Government side no change anything. No ₦50 government stamp duty for pure cash withdrawal. POS agents go still charge their own money (normally ₦100–₦200 for ₦10,000–₦50,000 withdrawal, depending on area and the agent). Dis na their own commission, no be new tax.
When person send money electronically to POS agent account/wallet (e.g., customer transfer money to load your POS business through app or USSD): Good news for people wey dey receive money (like POS agents): Before, dem dey cut ₦50 from the money wey enter your hand (if na ₦10,000+). Now, you go collect full money – no cut again! Na the person wey send am go pay di ₦50. Dis mean say POS agents fit dey get money easier now, because customers no go dey complain say ₦50 miss again.
When you (or customer) use POS to send money electronically to another person: If the transfer reach ₦10,000 or more, na the sender go pa
