ELECTRONIC payment transactions in Nigeria rose to by 79.6 per cent over the N600 trillion recorded in 2023 to hir N1.07 quadrillion for the first time.
This is according to data released by the Nigeria Inter-Bank Settlement System (NIBSS) Thursday.
While the e-payment data showed a steady increase throughout the 12 months of the year, the highest value was recorded in December.
Being a festive period with lots of spending activities, Nigerians spent a total of N115.1 trillion over electronic channels in December 2024.
Further, the volume of transactions processed by NIBSS for the year also jumped from 9.7 billion in 2023 to 11.2 billion in 2024.
This represents a 15.5 per cent increase in the volume of electronic transactions year on year.
