Prime 9ja Online dey report say Federal Government don make over N78 billion from Electronic Transfer Levies on bank deposits and transfers. Federal Account Allocation Committee reveal dis amount for new report wey National Bureau of Statistics (NBS) publish.
Electronic Transfer Levies na one-off charge of N50 on any money wey enter account, either transfer or receipt. Dis one don bring in N80.86 billion for first five months of 2024.
Dis money come from Stamp Duty Act, wey Federal Government use harness electronic funds transfer growth for country. EMTL remain steady income source for federal, state, and local governments. Revenue from EMTL dey allocate among three tiers of government based on derivation, with Federal Government receiving 15%, state governments receiving 50%, and local governments receiving 35%.
Report show say government receive N15.9 billion in January, N15.15 billion in February, N14.75 billion in March, N18 billion in April, and N15.14 billion in May. States also receive N8.93 billion in January, N7.96 billion in February, N7.58 billion in March, and N7.38 billion in April from bank transfer levy.
Prime 9ja Online don report before say ten commercial banks for country contribute over N155 billion in income tax payments to Federal Government for 2022, wey mark 33.50% increase from N116.54 billion paid by banks during previous fiscal year.
Source: Prime 9ja Online Pidgin: FG Don Collect N80 Billion From Bank Transfers, Deposits