Angst as FG Demands 7.5 Percent VAT on Mobile Bank Transfers, USSD

Nigerians will begin paying a 7.5 percent Value Added Tax (VAT) on selected banking services, including mobile bank transfers and USSD transactions, from January 19, 2026, following a new regulatory directive backed by the Federal Government. The development was disclosed in a notice sent to customers on Wednesday by Moniepoint, informing users of the impending implementation

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