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The short answer
The ₦50 stamp duty on your UBA statement is a government charge, not a UBA fee. Since 1 January 2026, under the Nigeria Tax Act 2025, a ₦50 stamp duty applies to electronic transfers of ₦10,000 or more and is paid by the sender, replacing the old ₦50 Electronic Money Transfer Levy that was charged to the receiver. UBA's September 2026 tariff lists it as a ₦50 charge on outward transfers of ₦10,000 and above.
What the debit is
Stamp duty is a tax on certain documents and transactions. For bank transfers, the rule is simple: a flat ₦50 on each qualifying electronic transfer, collected by the bank and remitted to government. UBA does not keep it. UBA's Service Charges and Rates (September 2026) records it as "N50 charge applies to outward transfers of N10,000 and above" for savings, current and SME accounts, and also lists ₦50 per transaction on POS transfers of ₦10,000 or more.
What changed in 2026
Until the end of 2025, Nigerians saw a ₦50 Electronic Money Transfer Levy (EMTL), and it was deducted from the person receiving ₦10,000 or more. From 1 January 2026, as reported when the change took effect, the Nigeria Tax Act 2025 replaced EMTL with a ₦50 stamp duty on electronic transfers of ₦10,000 or more (or the foreign-currency equivalent), deducted from the sender.
| Before 2026 (EMTL) | From 1 January 2026 (stamp duty) | |
|---|---|---|
| Amount | ₦50 | ₦50 |
| Threshold | ₦10,000 and above | ₦10,000 and above |
| Who pays | Receiver | Sender |
| How charged | Once per qualifying credit | Once per qualifying transfer |
What is exempt
According to the January 2026 reporting, which cites bank notices, the following do not attract the charge:
- transfers below ₦10,000;
- salary payments;
- transfers between your own accounts at the same bank.
A transfer from your UBA account to your own account at another bank is not covered by that last exemption, as described in the reports. If you are unsure whether a transfer qualified, ask UBA.
Worked example
Example: in one week you make these transfers from UBA: ₦8,000 to a friend at another bank, ₦25,000 rent contribution to another bank, ₦60,000 to a supplier at UBA, and ₦100,000 from your UBA savings to your UBA current account.
- ₦8,000: below ₦10,000, no stamp duty. Transfer fee ₦10 + 7.5% VAT = ₦10.75.
- ₦25,000: stamp duty ₦50, plus transfer fee ₦25 + VAT = ₦26.88. Total charges ₦76.88.
- ₦60,000 to another person at UBA: stamp duty ₦50; UBA-to-UBA transfer fee free on the app.
- ₦100,000 between your own UBA accounts: exempt as an own-account transfer at the same bank.
Stamp duty for the week: ₦100. Transfer fees: ₦10.75 + ₦26.88 = ₦37.63. Our guide to UBA transfer charges covers the fee bands.
The other levy line you may see
UBA's tariff also lists a "cyber security levy" at "0.005%". This is a separate levy, not stamp duty, and its rules have their own history; see Nigeria's cybersecurity levy explained before assuming any line on your statement is correct.
How to query a wrong stamp duty charge
- Download your statement and list each ₦50 stamp duty debit with the transfer it relates to.
- Check each against the rules: was it ₦10,000 or more, were you the sender, and was it not an exempt transfer?
- If you were charged as a receiver after 1 January 2026, or on an own-account transfer within UBA, email cfc@ubagroup.com with the dates and amounts and ask for a reversal.
- Keep the complaint reference. If not resolved, escalate as set out in UBA complaint escalation.
This is information about how the charge works, not tax advice. For business accounts with many transfers, the cumulative cost can be material and is worth reviewing with an accountant.
Why it may look like a double charge
Many customers notice two debits on one transfer and assume one is an error. The first is UBA's transfer fee (for transfers to other banks, ₦10, ₦25 or ₦50 plus VAT on UBA's September 2026 tariff); the second is the ₦50 stamp duty. On a ₦50,000 transfer to another bank, for example, the fee is ₦25 + ₦1.88 VAT and the stamp duty is ₦50, so the statement may show ₦26.88 and ₦50 as separate lines. Both are expected.
What would be an error is stamp duty debited twice for one transfer, stamp duty charged on a transfer below ₦10,000, or stamp duty charged to you as receiver after 1 January 2026. Those are the cases worth raising.
For businesses
A business paying many suppliers feels the charge more. Fifty supplier payments of ₦10,000 or more in a month mean 50 × ₦50 = ₦2,500 in stamp duty on top of transfer fees. The reports describe salary payments as exempt, so payroll may be treated differently from supplier payments; check with UBA how salary runs are flagged, and keep records for your accountant. Businesses that receive many payments no longer bear the old receiver-side ₦50 levy under the 2026 rule.
If you are not sure whether a ₦50 line is stamp duty or something else, the narration on the statement usually says, and UBA can confirm it on request.
Where Pryme fits
Stamp duty is a government charge, so it applies to qualifying transfers whichever regulated bank or app you use. What differs is how clearly it is shown. In Pryme, fees appear on their own line before you approve a transfer.
Questions people ask
Why is UBA deducting ₦50 stamp duty?
Since 1 January 2026, a ₦50 stamp duty under the Nigeria Tax Act 2025 applies to electronic transfers of ₦10,000 or more and is paid by the sender. UBA collects it for government.
Does UBA charge stamp duty when I receive money?
Under the 2026 rule, the sender pays. If UBA deducted ₦50 from you as a receiver after 1 January 2026, ask UBA to explain or reverse it.
Is there stamp duty on transfers below ₦10,000?
No. The charge applies to transfers of ₦10,000 and above.
Is stamp duty charged on transfers between my own UBA accounts?
Reports of the 2026 rules list transfers between your own accounts at the same bank as exempt. Confirm with UBA if you were charged.
Sources
- UBA: Service Charges and Rates (PDF, September 2026) · accessed Oct 2026
- Techeconomy: Stamp duty replaces EMTL, sender to bear ₦50 charge on bank transfers (1 January 2026) · accessed Oct 2026
- UBA Nigeria: Contact us · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.