FG Earned ₦84 Billion From Cash Transfer Levy In Three Months - Politics -
The Federal Government generated N84.05bn from the Electronic Money Transfer Levy in the first quarter of 2025, according to data obtained from a Federal Inland Revenue Service document seen by Sunday PUNCH. The figure represents a 76 per cent year-on-year increase compared to the N47.74bn collected during the same period in 2024, reflecting stronger enforcement and the expanding use of digital payment platforms across Nigeria. A breakdown of the figures showed that in January 2025, EMTL collections stood at N21.40bn, a 29.1 per cent rise from the N16.59bn recorded in January 2024. February collections recorded the most significant jump, rising to N36.64bn from N15.79bn in February 2024 — more than doubling year-on-year with an increase of 132 per cent. In March 2025, EMTL revenues were N26.01bn, up by 69.2 per cent from the N15.37bn earned in March 2024. Month-on-month, February’s N36.64bn was 71 per cent higher than January’s N21.40bn. However, March saw a 29 per cen...