• Business - Companies
  • Updated: December 16, 2022

E-Payment Transactions By Bank Customers Hit N2.1 Trillion

The Nigeria Inter-Bank Settlement System (NIBSS) has revealed that bank customers in Nigeria transferred a total of N2.1 trillion over mobile in November 2022. 

The NIBSS data shows that the November mobile transactions bring the total mobile inter-scheme transactions on the NIBSS platform to N16.9 trillion in the last 11 months.

The value of transactions in November is also the highest monthly record on the platform.  

The NIBSS data showed that the value of mobile transactions has grown by 148% in the 11 months of this year compared to the N6.8 trillion recorded in the same period last year. 

The increase can be associated with the rising mobile connections across the country.

The data from the Nigerian Communications Commission (NCC) has shown that active subscriptions for mobile services across the networks of MTN, Airtel, Globacom, and 9mobile grew by 19.2 between January and October this year. 

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Felicia Abisola  Olamiji
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