The Federal Government earned N84.05 billion from the Electronic Money Transfer Levy (EMTL) in the first quarter of 2025, marking a 76% increase from the N47.74 billion collected in the same period of 2024.
The revenue growth is attributed to stronger enforcement and the increasing use of digital payment platforms in Nigeria.
In January 2025, EMTL collections were N21.40 billion, a 29.1% rise from January 2024. February saw the largest jump, with collections reaching N36.64 billion, more than double the N15.79 billion from February 2024. March collections amounted to N26.01 billion, reflecting a 69.2% increase from the same month last year.
“The surge in EMTL collections demonstrates the growing adoption of electronic transactions in Nigeria,” an official from the Federal Inland Revenue Service (FIRS) stated.
The levy, introduced under the Finance Act 2020 and implemented in 2021, imposes a N50 charge on electronic transfers of N10,000 or more.
These funds are shared among the federal, state, and local governments, contributing to Nigeria’s efforts to increase non-oil revenue.
The disbursement of EMTL proceeds in Q1 2025 saw the Federal Government receiving N12.10 billion, while states and local governments received N37.26 billion and N31.33 billion, respectively.
These figures represent a significant increase from the first quarter of 2024, with total allocations rising by 73.7%.
