NewStats: 3,261,672 , 8,174,725 topics. Date: Friday, 30 May 2025 at 04:37 AM 451f6p

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 cent drop from February’s peak, although it still outperformed March 2024 by a wide margin.

The EMTL, introduced under the Finance Act 2020 and implemented in 2021, imposes a N50 levy on electronic receipts or transfers of N10,000 and above.

Proceeds from the levy are shared among the three tiers of government based on an approved revenue-sharing formula, providing a supplementary revenue source that has grown in importance amid Nigeria’s push for increased non-oil revenues.

Usually, the proceeds are shared among the three tiers of government, with 15 per cent to the Federal Government and 85 per cent to states and local governments.

Sunday PUNCH further learnt that only about 96 per cent of the total EMTL revenue was shared among the three tiers of government.

An analysis of statements from the Office of the ant General of the Federation showed that the Federation Allocation Committee disbursed a total of N80.69bn from Electronic Money Transfer Levy collections to the Federal Government, state governments, and local government councils in the first quarter of 2025.

This figure represents a significant increase from the N46.45bn shared in the corresponding period of 2024.

From this amount, the Federal Government received N3.082bn, state governments received N7.192bn, while local government councils were allocated N10.274bn.

In February 2025, the levy’s contribution rose sharply to N35.171bn.

Of this figure, the Federal Government received N5.276bn, states received N17.585bn, and local governments collected N12.310bn.

In March 2025, N24.971bn was shared from EMTL receipts, with the Federal Government taking N3.746bn, states N12.485bn, and local councils N8.740bn.

The distribution pattern in the first quarter of 2025 was different from that of the first quarter of 2024.

In January 2024, FAAC disbursed N15.922bn in EMTL collections, with N2.388bn going to the Federal Government, N7.961bn to states, and N5.573bn to local government councils.

In February 2024, from N15.157bn collected, the Federal Government received N2.274bn, the states got N7.578bn, and local governments, N5.305bn.

March 2024 EMTL collections stood at N15.369bn, with N2.213bn allocated to the Federal Government, N7.377bn to states, and N5.164bn to local governments.

On a year-on-year basis, the total EMTL shared in the first quarter of 2025 rose by 73.7 per cent compared to the corresponding period of 2024.

The Federal Government’s total EMTL allocation increased from N6.875bn in Q1 2024 to N12.104bn in Q1 2025, reflecting a growth of approximately 76 per cent.

For state governments, the amount rose from N22.916bn in the first three months of 2024 to N37.262bn in the same period of 2025, representing a 62.6 per cent increase.

Local government councils recorded the highest growth rate among the three tiers, with EMTL receipts rising by about 88 per cent from N16.659bn in Q1 2024 to N31.325bn in Q1 2025.

Source: https://punchng.com/FG-earned-N84bn-from-cash-transfer-levy-in-three-months-Report

Toh

Money dey this country jare

Same money Seyi Tinubu, son of the drug lord is using to live extravagant life.

Kiloda?
What does it bring to the common man?

My two major challenges now are the amounts i pay for dstv and electricity bills.

Spending N10k a week to recharge my electricity chai! something i used to spend N3k to N4k monthly when they introduced the prepaid arrangement.

Kiloda?
What does it bring to the common man? They are taken from us and nothing to show for it

It should be more than this coz they generate millions per day.

Where is the money?? Excess crude is empty!

So this people dey extort our hard earned money

Thoo, am impressed with local government performance in Lagos

helinues:
Toh

Money dey this country jare

Na nao u know abi ?

Thoo, am impressed by Local government performance in Lagos

March revenue dropped because the people's purchasing power reduced! April/May will go up because they'll be forced to pay school fees. Growing the economy by squeezing the necks of the people is not commendable but condemnable.
It’s sad how the government continue to burden the poor with endless taxes and ridiculous bank transfer charges, squeezing the little they struggle to earn. Instead of creating policies that ease the hardship of the masses, they keep increasing financial pressure on them. Meanwhile, the same leaders shamelessly share the money among themselves through inflated salaries, bogus allowances, and endless corruption scandals. They live in luxury while the people who voted them into power suffer daily. This system is designed to keep the poor poorer and the rich richer. It’s heartbreaking and shameful.

And this monies was fleeced from the Nigerians populace

Thieves in government

This is because Tinubu has targeted Mobile wallets aka Fintechs too since many Nigerians have shifted to their services.
I told my driver to stop sending exactly 10,000 naira to me, send 9,999 naira or put N50 on top your 10k, the guy never listen.

Hence nothing to show up with

This is the summary:

In the first three months of 2025, the Federal Government made about ₦84 billion from the Electronic Money Transfer Levy (EMTL). This is 76% more money than they made during the same time in 2024, thanks to better collection efforts and more people using digital payments.

In January 2025, they made ₦21.4 billion — higher than January 2024.

In February 2025, they made a big jump to ₦36.64 billion, more than double what they made in February 2024.

In March 2025, they made ₦26.01 billion, still much better than March 2024, even though it dropped compared to February.


The EMTL charges ₦50 on every bank transfer of ₦10,000 or more.
The money is shared between the federal, state, and local governments: the Federal Government gets 15%, and the states and local councils get 85%.

Out of the total EMTL money collected in early 2025, ₦80.69 billion was shared among the three levels of government. Here's how it was shared:

Federal Government got ₦12.1 billion,

States got ₦37.3 billion,

Local governments got ₦31.3 billion.


Compared to 2024, everyone got much more money from EMTL in 2025, with local governments seeing the biggest growth (almost 88% more than in 2024)

helinues:
Toh

Money dey this country jare

Of course, there is money in the country being squeezed out of the public in various ways as subsidy removal, taxes, charges, levies, rates etc for the looting pleasure and luxury of the president.

Any idea what else the government is doing with all our money if they are still taking loans

ManirBK:
Aug 28, 2023
The Federal Government says it has no intention to borrow from any local or foreign organisation with its removal of subsidy on petrol and exchange rate harmonisation.

The Minister of Finance and Coordinating Minister for the Economy, Chief Wale Edun, revealed this at the end of the inaugural Federal Executive Council meeting on Monday in Abuja.

He said that the benefit of the subsidy removal would be ploughed back into various sectors aimed at boosting government revenue and improving the business environment for local and foreign investment.

Edun said that with the increased revenue from subsidy removal, various palliatives have been made available to cushion its effect on a short, medium and long-term basis.

He reiterated the President Bola Tinubu-led istration’s desire to bring back the economy from the wood it has found itself over time.

https://www.vanguardngr.com/2023/08/fg-ends-borrowing-finance-minister/amp/

na me dem charge

They keep stealing from the poor.

Wao that's interesting..this government understands business

They stole not earned. Removing N50 or more from every of my transactions isn't earning. It's thievery.

So this is how tinubu is growing the economy

Looted money from the common man

Let them list the amount collected per State and Federal Capital.

Legal pick-pocketting!

I pray they use the money for the betterment and providing basic amenities for the masses.

Please make monkey nor swallow the money later o

Then they share it among them self. 80billion naira will build world class hospital, MRI Machines and Linear Accelerators are the two most expensive medical machine and they are not up to 10billion naira.

Those collecting money to APC God will judge you all

[You forgot to mention data quote author=AmazingELixir post=135141181]

My two major challenges now are the amounts i pay for dstv and electricity bills.

Spending N10k a week to recharge my electricity chai! something i used to spend N3k to N4k monthly when they introduced the prepaid arrangement.[/quote]