Taxation of digital financial services (DFS) in Africa


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Total population : 218.54 M. (2022)
Working age (15-64) population : 117.97 M. (2022)
Mobile money accounts1: 28.1 M. (2022)
Transaction values (% GDP) : 16,11% (2022)

1Note: Responses are from participants aged +15

Changes to specific taxes on digital financial services in Nigeria


  1. Finance Act, 2020. Section 48
    Nigeria applies the Electronic Money Transfer levy fixed at 50 naira (NGN 50) on transactions of NGN 10,000 or more, for electronic money transfers and deposits.

Mobile money use and accounts

Evolution in the usage of mobile money
(source: IMF, Financial Access Survey (FAS) (2023) )

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Evolution in mobile money and financial institution accounts
(source: World Bank, Global Findex Database (2021) )

Disparity in Digital Financial Service usage between wealthier and poorer segments of the population
(source: World Bank, Global Findex 2021)

Made or received digital payment (% of each group)

*Note: responses are from participants aged +15

Mobile money accounts (% of each group)

*Note: responses are from participants aged +15

Financial institution accounts (% of each group)

*Note: responses are from participants aged +15

Digital payments and accounts by user group
(source: World Bank, Global Findex 2021)

Adults making or receiving digital payments

Adults with a mobile money account

Adults with a financial institution account

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Last update : 31/01/2024