The President, Nana Akufo-Addo, has signed into law the Electronic Transfer Levy Bill also known as the E-levy, two days after it was passed by parliament under controversial circumstances.

His action now paves the way for the implementation of the levy.

This comes barely a day after some three members of the Minority NDC in Parliament filed a suit at the Supreme Court to challenge the passage of the levy, insisting parliament did not have the numbers to pass it.

Parliament passed the bill on Tuesday, March 29, 2022, in the absence of the Minority MPs, who had walked out before the Bill was considered at the second reading stage.

Speaking exclusively to JoyNews, Minister for Information, Kojo Oppong Nkrumah, confirmed that, the President assented to the Bill on Thursday, March 31, 2022.

As a result, the Bill, which was passed by Parliament on Tuesday, has now become a binding law which will be operationalized as a revenue measure across the country.

During the debate on the policy in Parliament on Tuesday, Information Minister Kojo Oppong Nkrumah said the poor had been exempted from paying due to the less than 100 cedis threshold.

He also denied claims that that the E-levy will kill the Mobile Money (MoMo) industry. He noted that this same argument was made when the Communication Service Tax (CST) was introduced to the effect that it was going to kill the telecom industry.