Nigeria, Dec. 12 -- By 2025, the federal government's enlarged digital tax net is expected to bring in N230 billion, a 31.35 percent increase over the 2024 objective of N175 billion, according to the 2025-2027 Medium Term Fiscal Framework and Fiscal Strategy Page.

This money will come from the Electronic Money Transfer Levy (EMTL), which was added to the Stamp Duty Act as an amendment to the Finance Act 2020. The levy charges a fee of N50 for electronic receipts or transfers of N10,000 or more made through banks and financial institutions.

By extending EMTL to fintech companies like Moniepoint, Opay, and Palmpay in September 2024, the federal government could access a market that handled N46.91 trillion transactions in 2023. December 20...