Based on the Nigeria Tax Act 2025, the ₦50 stamp duty that was previously charged on each payment of ₦10,000 or more made into your Kuda or Kuda Business account will now be paid by the sender.
This change applies from Thursday, January 1, 2026.
What does this mean for you?
You’ll no longer be charged ₦50 when you receive payments of ₦10,000 or more in your account.
If you make a payment of ₦10,000 or more to another account, you’ll be charged the ₦50 stamp duty.
What payments will not be charged?
Transfers from your account that are less than ₦10,000
Transfers you make to pay salaries
Transfers between personal Kuda accounts that belong to you
Transfers between Kuda Business accounts that belong to your business
Does Kuda gain anything from this charge?
No, we don’t gain anything from this charge. It’s a Federal Government charge that all financial institutions have been directed to apply. We hand over the entire charge to the Federal Government.
If you have any questions about this charge, please chat with us.