New Tax Law: Man Makes First Transfer in 2026, Shows How He 'Smartly' Avoided Bank Charges
- A man has publicly shown how he sent someone money in 2026 and 'smartly' escaped paying a bank charge
- The man noted that it was his first transaction in 2026 and that he was not ready to let the government reap where they did sow
- His trick sparked mixed reactions on social media as people shared their thoughts on the new tax laws, which were implemented on January 1, 2026
An OPay user, Nwachukwu, has gone public with his first transaction and how he avoided being charged by the fintech platform.
He accused the government of trying to reap where they didn't sow.
Source: Facebook
New tax law: Man shows his first transaction
In the new tax laws, banks would charge senders N50 stamp duty for electronic transactions from N10k and above, and Nwachukwu transferred N9,999 to avoid the bank charge.
He blasted the Nigerian government, and erroneously claimed that senders and receivers get charged N50 for electronic transactions from N10k. He wrote on Facebook:
"My first transaction of the year 2026, government wants to reap where they did not sow - God p0n!sh una there.
"You go collect 50 naira from the sender still go collect 50 naira again from the receiver on top 10k - who does that.
"This is wickedness."
New tax laws: Nigerian lawyer offers insights
Legit.ng asked Barrister Chidera Divine Ebimnamaonye about the legal options citizens have if they believe the new tax laws are unfair or wrongly applied, and he replied:
"Issues of taxes and taxation are to be confronted legally at the Federal High Court.
"This is the court with jurisdiction on taxation as espoused in section 251 of the 1999 constitution.
"(b) It is also legal to make a peaceful demonstration to inform the government of the people’s stance towards its policies."
Source: Facebook
See his Facebook post below:
New tax law: Man's strategy generates buzz
Legit.ng has compiled some reactions to the man's approach below:
Blessed Ochendo said:
"This country is no longer funny at all."
Alao Dorcas Avubomenafa said:
"Una won cast update for this tax people to see it abi? Continue."
Wisdom Onodugo Chidi said:
"I just calculated that money bro.....if dem collect this 50 from just 1million people everyday, they will be making close to 20billion Naira every year... Of which e go pass 1million people nah... Nigeria reach 200million people abi.... One thief for one corner go cun embezzle am put for Pocket."
Broz Jay said:
"Check your transaction history you will understand the game I just dey hiss since morning."
Onyinyechi Blessing said:
"Na there method since last year but for me I no dey send 10k once ooo."
Kanu Christian said:
"Na the sender go pay o no be receiver o but if I explain how u go take pay ur tax ehhh omo u go just give up."
Etz Steve Nnabuike said:
"So na today you learn this pattern something wee I done Dey use since last year Dey play."
In a related story, Legit.ng reported that a man had transferred N9,999 to his OPay account to avoid paying the N50 electronic transfer levy.
Excessive bank charges: Experts offer solutions
Meanwhile, Legit.ng previously reported that experts had suggested ways to avoid paying excessive bank charges.
Value Added Tax, foreign exchange commission, ATM transfer fees, commission on turnover, POS transfer fees, interbank transfer fees, card maintenance fees, USSD charges, card issuance fees, check issuance fees, stamp duty, and transfer fees are just a few of the fees that existing banks charge.
Eleven banks earned nearly N714 billion in electronic fees and other commissions during the first nine months of 2022, according to a financial report. This has nothing to do with whether a consumer is high-end or low-end. All transaction strata are covered by the policies.
Source: Legit.ng
