Nigerian fintech platform Platnova has announced the complete removal of charges on all naira transfers, while unveiling a suite of global payment feature aimed at easing international transactions for Nigerians.

The development comes amid rising discontent over high bank transfer fees and limited access to foreign exchange services, especially for digital workers and online entrepreneurs. Platnova’s new initiative now allows users to send money to any Nigerian bank account for free — with no hidden fees, daily limits, or “convenience” charges.

“You shouldn’t be taxed for moving your own money — it’s your right,” declared Benjamin Oyemolan, CEO and co-founder of Platnova. “Free transfers are not a promo for us, it’s a principle.”

Oyemolan’s remarks echo the frustrations of millions of Nigerians who bear the brunt of transfer fees that have grown into a multi-billion-naira burden.

Data from the Nigerian Inter-Bank Settlement System (NIBSS) shows that more than 1.7 billion electronic transfers were processed in 2023 alone, generating an estimated ₦34 billion in bank charges.

He said the platform now offers USD virtual accounts and dollar virtual cards, enabling users to receive and spend money internationally, offering a lifeline for Nigeria’s growing population of freelancers, digital nomads, students, and small business owners who rely on platforms like Amazon, Coursera, Canva, Meta Ads, and Spotify for their services and income.

“Our mission is simple — make money movement affordable and accessible for everyday users,” the Platnova team noted. “Nigerians are already doing so much with so little. We want to give them tools that save money and expand possibilities.”

With features such as multi-currency wallets, crypto options, lifestyle payments, and a streamlined user interface, he said Platnova’s offering is rapidly attracting a new wave of users disillusioned with traditional banking.