December 2, 2022



E-payment transactions hit all-time excessive in August – NIBSS

Newest statistics launched by the Nigeria Inter-Financial institution Settlement Programs (NIBSS) reveals e-payment transactions within the nation hit an all-time excessive in August with N33.2 trillion transactions, bringing the whole worth of e-payment offers within the final 8 months to N238.7 trillion.

In comparison with the N29.3 trillion recorded in July, this reveals a 13.3% development. 12 months on yr, the e-payment worth elevated by 50% in comparison with N22.1 trillion recorded in August final yr.

The surge in digital transactions reveals that extra Nigerians are embracing the cashless coverage of the Central Financial institution of Nigeria (CBN).

In response to NIBSS, the worth of e-payment recorded was a mirrored image of the rise within the quantity of offers throughout the month. The NIP quantity rose to 448 million in August, displaying a ten.6% improve over 405 million recorded in July.

An evaluation of the 8 months knowledge simply launched by NIBSS confirmed that the NIP platform recorded N26.6 billion transactions in January. 12 months on yr, this was a 43.7 per cent improve over N18.5 trillion recorded in the identical month of final yr.

Equally, in February, offers value N27.2 trillion have been sealed over the digital platform. In contrast with February 2021 when N18.3 trillion was recorded, this represented 48.6 per cent development.

In March, the platform recorded 31.8 trillion transactions, a 44.5 per cent improve over the N22 trillion recorded in the identical month final yr.

The worth of transactions on the NIP platform stood at N29.2 trillion in April this yr. This additionally reveals a 41.6 per cent improve over the N20.6 trillion recorded in April 2021.

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In Might, the worth of e-payment transactions stood at N29.6 trillion, a 43 per cent improve in contrast with N20.7 trillion recorded in the identical interval final yr.

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