OPay has quietly introduced a ₦9,999 preset transfer option in its app, and Nigerians are paying close attention. The move comes amid growing concerns over the ₦50 stamp duty now applied to electronic transfers of ₦10,000 and above, a policy that officially took effect at the start of 2026.
While ₦50 may seem insignificant on its own, frequent transfers mean the cost adds up quickly. For millions of Nigerians who rely on fintech apps for daily transactions, even small deductions matter.
OPay’s new transfer option appears to offer a simple workaround, staying just below the threshold where stamp duty applies.
Understanding the ₦50 Stamp Duty on Bank Transfers
Under Nigeria’s updated stamp duty framework:
- Electronic transfers of ₦10,000 or more attract a ₦50 stamp duty
- The charge is deducted from the sender
- Transfers below ₦10,000 are exempt
- The rule applies across banks and fintech platforms
The policy is part of broader government efforts to improve tax compliance and generate revenue through digital transactions. However, its rollout has been met with mixed reactions, especially from users who make multiple transfers daily.
What the ₦9,999 Transfer Option Does
OPay’s ₦9,999 button allows users to send money without triggering the stamp duty charge. Instead of manually typing an amount, users can now select a preset value that keeps the transaction just under the ₦10,000 mark.
The feature:
- Reduces friction for users trying to avoid extra charges
- Speeds up transfers with a one-tap option
- Reflects how Nigerians already adjust spending habits around policy thresholds
OPay has not officially stated that the feature was designed to bypass stamp duty, but the timing and amount strongly suggest a response to user behaviour and concerns.
On social media, many users say they were already sending ₦9,999 manually before the update. The difference now is convenience.
Some users also admit to splitting larger transfers into multiple ₦9,999 transactions. While this is not illegal, financial experts advise moderation, as excessive micro-transactions can sometimes raise flags on financial platforms.