The Nigeria Inter-Bank Settlement Systems (NIBSS) has revealed that Nigerians spent a total of N89.5 trillion over electronic channels in July 2024. According to the latest e-payment data, the July record came as the all-time high monthly transaction value on…
By Sodiq Adelakun In a remarkable leap forward for Nigeria’s digital economy, the latest figures from the Nigeria Interbank Settlement System (NIBSS) indicate a significant 54.55 percent increase in electronic payment transactions, reaching a total of N611.06 trillion in 2023.…
Fintech company, Moniepoint Inc. said it now processes average monthly transactions valued at $12 billion as more businesses in Nigeria embrace digital payments. The Acting Managing Director of Moniepoint Microfinance Bank, Babatunde Olofin, who disclosed this on Thursday during a…
By Seun Ibiyemi Following the crises of new naira notes in the country, in a bid to promote cashless policy, Nigerians are gradually migrating to electronic payments as the value of transactions using cheques dropped to N282.4billion in March. This…
Some bank customers said they still prefer the use of Fintech companies like OPay, PalmPay and others for their electronic transactions in spite of fraud allegations against the companies. Some of the customers who spoke with the News Men in…
Cashless transactions fell to N37.67trillion in February 2023 as Nigerians had to grapple with failed and delayed cash transfers. This was a 4.83 per cent fall from the N39.58 trillion that was recorded in January according to new data from…
…Record 13.3% growth from July’s transactions …Reduction in cash transactions, a boost to CBN’s cashless policy By Uthman Salami, Matthew Denis and Ariemu Ogaga As more Nigerians frequently explore online alternatives at an accelerating rate to transact their businesses, the…
Nigeria’s electronic payment transactions increased by 85.52 per cent year-on-year to N171.99trillion in August 2021, data obtained from the Nigeria Inter-Bank Settlement System have shown. From January to August 2020, e-payment was N92.71trillion. It increased to N171.99trillion in the corresponding…
