Electronic payment (e-Payment) transactions in Nigeria witnessed a remarkable surge in the first quarter (Q1) of 2024, hitting a total of N234 trillion, which was an 89.3 per cent increase from the N123.8 trillion recorded in the corresponding period of 2023. The significant growth trajectory was unveiled in the latest data released by the Nigeria Inter-Bank Settlement System (NIBSS), highlighting the expanding digital footprint within the country’s financial ecosystem. However, Point of Sale (POS) transactions witnessed a 7.92 per cent downturn in the review period, dropping from N2.84 trillion in Q1 2023 to N2.61 trillion in the first quarter of this year.
