The Federal Government made N84.05 billion from the Electronic Money Transfer Levy in the first quarter of 2025, according to a report by the Federal Inland Revenue Service.
This is a 76 per cent increase compared to the N47.74 billion collected during the same period in 2024. The rise is due to stronger enforcement and more Nigerians using digital payment platforms.
In January 2025, the government collected N21.40 billion from the levy, up from N16.59 billion in January 2024. February saw the highest collection, with N36.64 billion, more than double the N15.79 billion collected in February 2024. In March 2025, collections dropped slightly to N26.01 billion but were still higher than the N15.37 billion collected in March 2024.
The EMTL was introduced through the Finance Act 2020 and started in 2021. It places a N50 charge on electronic transfers of N10,000 and above. The money collected is shared among the Federal, state, and local governments.
Of the total amount collected in the first three months of 2025, about 96 per cent was shared among the three tiers of government. Records from the Office of the Accountant General showed that N80.69 billion was distributed through the Federation Account Allocation Committee (FAAC).
In January 2025, FAAC shared N20.548 billion from the EMTL collections. The Federal Government received N3.082 billion, state governments got N7.192 billion, and local government councils received N10.274 billion.
In February 2025, N35.171 billion was shared. The Federal Government received N5.276 billion, states got N17.585 billion, and local councils collected N12.310 billion.
In March 2025, N24.971 billion was distributed, with the Federal Government getting N3.746 billion, states N12.485 billion, and local councils N8.740 billion.
Compared to the first quarter of 2024, the total money shared from EMTL collections rose by 73.7 per cent in 2025.
The Federal Government’s share grew by 76 per cent from N6.875 billion in early 2024 to N12.104 billion in 2025. State governments’ share increased by 62.6 per cent from N22.916 billion to N37.262 billion.
Local governments had the biggest growth, with their share jumping by 88 per cent, from N16.659 billion in 2024 to N31.325 billion in 2025.
