E-payment transactions in Nigeria hit N600 trillion in 2023-NIBSS

Electronic payment transactions in Nigeria rose to $425.7 billion in 2023, hitting an all-time high as more Nigerians embrace cashless payments.

According to the data released by the Nigeria Inter-Bank Settlement System (NIBSS), the value recorded on the NIBSS Instant Payment (NIP) represents a 55% increase over the $274.6 billion recorded in 2022.

While the e-payment data shows a steady increase throughout the 12 months of the year, the highest value was recorded in December…

Read more at nairametrics

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