We want to keep you fully informed about the ₦50 stamp duty on transfers and how it affects your Kuda Business account. Here’s a simple breakdown of what’s changing and what it means for you.
What’s changing?
Based on the Nigeria Tax Act 2025, the ₦50 stamp duty on transfers of ₦10,000 or more will now be paid by the sender, not the recipient.
This change takes effect from Thursday, January 1, 2026.
How does this affect you?
When you receive money
Good news is you will no longer be charged ₦50 when you receive payments of ₦10,000 or more into your Kuda Business account.
When you send money
If you make a transfer of ₦10,000 or more to another account, a ₦50 stamp duty will apply to that transaction.
Which transfers are not affected?
You won’t pay the ₦50 stamp duty on:
Transfers below ₦10,000
Salary payments you make via Kuda payroll
Transfers between your personal Kuda accounts
Transfers between Kuda Business accounts that belong to the same business
Does Kuda benefit from this charge?
No. Kuda doesn’t gain anything from this charge.
The ₦50 stamp duty is a Federal Government levy that all financial institutions in Nigeria are required to apply. We simply collect it and remit the full amount to the Federal Government.
What this means for you
We know every naira matters. With this update, receiving payments is now a little easier to plan for, while outgoing transfers of ₦10,000 or more will include the stamp duty. Keeping this in mind can help when budgeting or making payments.
We’re here to help
If you have any questions about stamp duty or how it applies to your account, please start a chat with us in the app. We’re always happy to help and keep things clear for you.