Cash Crunch: E-bills Payment Falls by 44% Amidst Cashless Policy – NIBSS The Nigeria Inter-Bank Settlement System recent report has indicated a fall in the value of electronic utility payments by 44.86 per cent in February despite the Central Bank of Nigeria’s naira redesign policy...

NIBSS: E-payment Declines to N37tn as Failed Transaction Mount - Report The Nigeria Inter-Bank Settlement System data has revealed that the increase failed payment transactions in February caused a 4.83 per cent decrease in the value of cashless transactions to N37.67tn from the N39.58tn that...

Banks’ Commission From Customers Increase By 14% To N219.77bn   Amid severe competition from Fintech companies, six banks operating in Nigeria generated a sum of N219.77billion fees and commission for the year ended December 31, 2022 representing an increase of 14 per cent from N192.22billion reported...

PoS Transactions Rise By 40%, e-payment Hits N39.58trn – NIBSS Naira’s scarcity caused by the Central Bank of Nigeria’s redesign and cash withdrawal policy has pushed Point of Sales transactions to N807.16bn in January 2023. This is a 40.69 per cent year-on-year increase from the N573.72bn...

E-Payment Hit Monthly All-Time High Of N33trn In August   Data released by the Nigeria Inter-Bank Settlement Systems (NIBSS) has revealed that transactions worth N33.2 trillion were performed electronically in August through the NIBSS Instant Payment platform (NIP). The latest figure brings the total value of e-payment...

E-payments Processed N55trn In Two Months   About N54.98tn was processed through Nigeria’s electronic channels in the first two months of 2022, according to data from the Nigeria Inter-Bank Settlement System portal. This is a 45.49 per cent increase from the corresponding period of 2021 when...