Cheque Transactions Shrink By 39% As Digital Payments Rise       The volume of cheques cleared by Nigerian banks keep shrinking as bank customers continue to embrace electronic payments for their financial transactions. From January to September this year, the volume of cheques dropped by 39 per cent...

E-payment Transactions Hit N111.29trn In Nine Months         The value of transactions via the two digital payment platforms – Nigeria Interbank Settlement System Instant Payment System and Point of Sales terminals – rose to N111.29tn from January to September this year. The two platforms recorded a 44...

Banks’ Mortgage Loans Hit N77.61bn - NBS         Banks gave out N77.61bn mortgage loans in three years, according to latest figures obtained from the National Bureau of Statistics. The NBS stated in its selected banking sector report for second quarter that N19.83bn, N32.09bn and N26.68bn were giving...

Instant Payments, PoS Deals Hit N95.89trn In Eight Months     The value of transactions via the two digital payment platforms – Nigeria Interbank Settlement System Instant payment system and Point of Sales terminals – across the country rose to N95.89tn from January to August this year. The...

PoS, Mobile Transactions Decline In August       The volume and value of transactions through Point of Sale (PoS) terminals and Mobile Interscheme transfers (Mobile phones) declined in August. Analysis of the current Electronic Payment Channels data from Nigeria Interbank Settlement System (NIBSS) showed that the volume of...

Cleared Cheques Dip To N367bn     There is a drop in the volume and value of issued cheques to N367 billion in one month, thanks to customers’embrace of e-payment channels and less reliance on cheques. Data from the Nigeria Interbank Settlement System (NIBSS) on cleared cheques showed...