KongaPay enforces N50 levy on transfers

Nigerian mobile payment platform KongaPay said it will begin charging a N50 levy on electronic transfers of N10,000 and above into personal accounts from February 20, in compliance with a Federal Inland Revenue Service regulation.

The company, in a notice to users, said the charge is mandated under the Electronic Money Transfer Levy Regulations, 2022, and will be fully remitted to the federal government. KongaPay said it does not retain any portion of the levy.

“KongaPay is committed to ensuring a smooth implementation to minimise any inconvenience to you,” it said in the email.

Users with questions were advised to contact the company’s support team via email or WhatsApp.

KongaPay, launched in 2014 by e-commerce firm Konga, was initially designed to facilitate transactions on its parent platform.

It has since evolved into a standalone mobile money operator licensed by the Central Bank of Nigeria.

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