PoS Records 826,712 Transactions In A Day Individuals and organisations making transactions with the Point of Sale have continued to rise, despite the occurrence of failed transactions, a new survey has shown. A total of 826,712 PoS transactions occurred in the country on September 13, 2018,...

BDCs Partner NIBSS To Automate Operations     Bureau de change operators under the aegis of the Association of Bureaux De Change Operators of Nigeria are collaborating with the Nigeria Inter-bank Settlement System Plc to automate their operations for online real time returns rendition. The Acting President, ABCON,...

Banks lose 2m Customers in 2 years – NIBSS Despite Central Bank of Nigeria’s (CBN) effort to promote financial inclusion, Nigerian banks lost over 2 million customers between 2016 and 2017. According to statistics from the Nigeria Inter-Bank Settlement System (NIBSS), the number of active bank...

NIBSS Recorded N1.41tn As Total Of POS Transactions In 2017   The Nigeria Inter-Bank Settlement System has disclosed that Points of Sale transactions increased by 54.3 per cent to N1.41tn in 2017 as more retail merchants embraced PoS as a means of transactions. It stated in a...

E-payment Struggles To Grow As Transactions Hit N69trn In 2017 NIGERIA’s electronic payment industry struggled to grow in 2017, constrained by the impact of economic recession and inflation on the purchasing power of Nigerians and decline in awareness campaign to discourage cash based transactions. Financial Vanguard...

The Presidency has begun payment of N5,000 monthly stipend to the poorest and the most vulnerable in the country through the Conditional Cash Transfer (CCT) of its social investment programmes. A statement by the Senior Special Assistant to the Vice President on Media and Publicity,...