CBN Advises Customers to Avoid Bank Queues, Visit PoS Agents The Central Bank of Nigeria has urged bank customers not to panic ahead of the January 31, 2023 deadline for the circulation of old N200, N500 and N1,000 notes. CBN’s Director of Internal Audit Department, Lydia...

Cash swap: CBN Excludes Abuja, Lagos PoS Operators Abuja and Lagos Mobile money/Point of Sales agents have been excluded from the Central Bank of Nigera's newly launched cash swap programme. CBN outlined some guidelines for the cash swap programme in a Frequently Asked Questions' document. The development...

PoS Transactions Drops by 2% to 85.2m The Nigerian Interbank Settlement System (NIBSS) recent data has indicated that the volume of Point of Sales (PoS) transactions fell Month-on-Month (MoM) by two percent to 85.2 million in December 2022 from 86.7 million in November. However, the value...

PoS Transactions Hit N8tn in July – NIBSS  The recent data obtained from the Nigeria Interbank Settlement System has indicated that that the value of Point of Sale transactions in Nigeria has jumped 39 per cent to N8.03tn in 2022. The data showed that the aggregate...

Cheque Usage Drops As PoS Transactions Hit N13.67trn     Nigerians have continued to abandon cheque transactions as Point of Sale transactions rise to N13.67tn in three years, according to data obtained from the Nigeria Inter-Bank Settlement System Plc portal. The data showed that the aggregate PoS transactions...

E-payment Transactions Rose By N80bn To N21trn In June       Transactions through electronic payment (e-payment) channels increased by N80 billion to N21.27 trillion in May 2021 against the N21.19 trillion recorded in April 2021. CEO of Financial Derivatives Company, Bismarck Rewane, said this in a report titled:...