Nigeria’s E-payment transactions soar by 836% increase in four years – Emefiele

Nigeria’s Central Bank Governor, Mr Godwin Emefiele, stated that the electronic transaction volumes in Nigeria increased by 836 per cent between 2017 and 2021.
He added that the use of cash and cheques continued to diminish, as web-based transactions such as PoS, NIP, ATM and MMO have increased substantially, saying:
“For instance, between 2021 and 2017, the volume of transactions via electronic channels such as ATM, POS, WEB, MMO and NIP increased by 99.76, 1,775.72, 35,502.58, 2,413.44 and 836.50 per cent, respectively,”
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