Auditor-General Report Uncovers N197.72bn Irregular Payments Across MDAs

A report by the Auditor-General of the Federation has revealed irregular payments totaling over N197.72 billion across various ministries, departments, and agencies (MDAs), raising significant concerns about systemic lapses in financial compliance and procurement processes. The findings, detailed in the Auditor-General’s Annual Report on Non-Compliance and Internal Control Weaknesses, cover activities from 2020 to 2021 … Read more

OPay Introduces N50 Fee For Transfers Above N10,000 Starting September 9

OPay N50 Fee Transfers

OPay has officially introduced a new fee for electronic transfers into personal and business accounts, aligning with the Federal Inland Revenue Service (FIRS) regulations aimed at generating revenue from digital transactions. Starting from September 9, 2024, the payment platform will implement a one-time charge of N50 for transfers of N10,000 and above. This fee will … Read more