7.5% VAT on Bank Transfers in Nigeria: What It Really Means (And Why You Shouldn’t Panic)
Over the past few days, headlines about a “7.5% VAT on bank transfers and USSD transactions” have caused serious panic across Nigeria. Many people believe that from January 19, the government will start taking 7.5% of every transfer they make — whether through mobile banking apps, USSD codes, or fintech platforms like OPay, Kuda, Moniepoint,…