Business - Companies
Updated: January 14, 2023

Mobile Transfer By Bank Customers Hit N19 Trillion

By Felicia Abisola Olamiji
January 14, 2023
0

Bank customers in Nigeria have transferred a total of N19.4 trillion over mobile in 2022, according to data released by the Nigerian Inter-Bank Settlement System (NIBSS).

This reflects a 142% increase compared to N8 trillion worth of transactions in 2021.

The data from the NIBSS also shows that the volume of mobile inter-scheme transactions rose by 151% year on year from 284.5 million recorded in 2021 to 609 million in 2022.

According to the data, the value of bills paid through electronic channels last year increased by 53% from N2.3 trillion recorded in 2021 to N2.8 trillion.

E-payments are an electronic or digital way of transferring funds.