Nigeria News: The Electronic Money Transfer Levy (EMTL) has significantly contributed to Nigeria’s revenue, amassing N79.93 billion over 12 months since launching in December 2024. This represents a noteworthy 56.80% increase compared to the previous year, signaling the growing impact of fintech solutions like Opay and Palmpay on the Nigerian economy.
Abuja News: This surge in revenue, presumably reflecting heightened electronic transactions, emphasizes Nigeria’s progressive shift towards a digital economy. The earnings, reported by the Federation Account Allocation Committee (FAAC), underline the importance of such levies in fortifying the financial base of the nation. Read more from the original source.
Key Takeaways:
- Nigeria’s EMTL revenue increased by 56.80% in one year.
- N79.93 billion was generated between January and March 2025.
- Fintech firms like Opay and Palmpay drive digital economic growth.
Is the digital economy the key to Nigeria’s financial future? Share your thoughts in the comments below!
