Nigeria’s e-payment transactions increased to N234 trillion in the first quarter of 2024, according to recent data from the Nigeria Inter-Bank Settlement System NIBSS.
According to the data, this represented an 89.3% increase over the N123.8 trillion recorded during the same period in 2023, indicating a significant increase in digital transactions.
However, Point of Sale (PoS) transactions decreased by 7.92% during the same period, from N2.84 trillion in Q1 2023 to N2.61 trillion in Q1 2024. The data showed that Nigeria’s digital presence is growing, as is its adoption of digital financial services.
