Nigeria's electronic payment ecosystem continued its strong momentum in Q1 2025, with total transaction value hitting N284.9 trillion-a 22 increase compared to N234.4 trillion recorded in the same period last year.
According to the Nigeria Inter-Bank Settlement System NIBSS, January recorded the highest monthly value at N100 trillion, followed by N88.8 trillion in February and N96 trillion in March. Transaction volumes mirrored this trend, with January peaking at 792 million transactions.
The surge is attributed to cash scarcity, rising fintech adoption, and growing consumer confidence in digital payment platforms such as internet banking, mobile apps, USSD, ATMs, and POS systems.
