Nigerians Go Stop To Pay Five Common Bank Charges From January 2026 — Oyedele

Millions of Nigerians go begin feel major financial relief from January 2026 as Federal Government don plan scrap five common bank charges under dia big tax reform agenda. Di move na part of President Bola Ahmed Tinubu fiscal overhaul wey dem sign into law on June 26, 2025, to ease cost of doing business, boost economic growth and support households and small enterprises. Di reforms dey inside four new laws, Nigeria Tax Act (NTA), Nigeria Tax Administration Act (NTAA), Nigeria Revenue Service Act (NRSA) and Joint Revenue Board Act (JRBA). According to Taiwo Oyedele, Chairman of di Presidential Committee on Fiscal Policy and Tax Reforms, di changes go simplify tax administration and reduce unnecessary financial wahala on citizens. Di ₦50 Electronic Money Transfer Levy (EMTL) on transfers above ₦10,000 go disappear, salary stamp duty go end, investors for treasury bills, bonds and shares no go pay stamp duties again, and stamp charges on stock or share transfer documents don vanish.

From January 2026, di ₦50 charge on transfers between accounts inside di same bank go stop, meaning customers fit move money between dia personal or related accounts without extra fees. Workers go collect full salary as employers and employees no go pay stamp duty again, easing administrative stress for small and medium businesses. Investors too go benefit as stamp duties on capital market transactions and documents go disappear, making investment cheaper for dem. Oyedele talk say all di reforms dey powered by provisions inside di Nigeria Tax Act 2025, wey introduce clear exemptions from stamp duties and override di old rules under di Stamp Duties Act and Finance Act 2020.