As more Nigerians embrace electronic transactions, Point of Sale terminals recorded N1.15 trillion transactions in March 2023.

The Nigeria Inter-Bank Settlement System, NIBSS, disclosed this in its latest report on Monday.

According to the report, the total value from e-payments in March 2023 was recorded at N48.33 trillion compared to N37.67tn in February.


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The reason is the suffering Nigerians experienced due to the naira scarcity occasioned by the Central Bank of Nigeria’s cashless policy implementation.

NIBSS added that more Nigerians depended on mobile devices for transactions as their usage surged by 106.93 per cent month-on-month allowing for a 61.99 per cent increase in transaction value from N2.56 trillion in February to N4.14 trillion in March.


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