Facebook Twitter LinkedIn RSS
    Trending
    • A Call for Digital Justice, By Don Pedro Aganbi
    • Understanding the End User Billing Policy for USSD Banking in Nigeria
    • Benin-Based TFS Cargo Bicycles Among Eight Ventures Selected for Premier Social Innovation Hardware Accelerator
    • SiBAN champions consumer, investor, and operator protection in Nigeria’s blockchain revolution
    • Nigeria’s digital divide: Stakeholders unite to boost rural connectivity
    • Coscharis Technologies partners Hikvision to transform security across Sub-Saharan Africa
    • Nine Chinese nationals sentenced to prison in Nigeria for crypto fraud and cyber terrorism
    • Global stage, local impact: How Zinox at VivaTech Paris 2025 benefits Nigeria
    Facebook Twitter LinkedIn
    ITPulse.com.ngITPulse.com.ng
    • News
    • Interviews
    • Blogs
    • Analysis
    • Opinion
    • Videos
    • Press Releases
    • Pictures
    • Advertise
    ITPulse.com.ngITPulse.com.ng
    Home»News»Nigeria records N49.35Trn online transaction in six months
    News 2 Mins Read

    Nigeria records N49.35Trn online transaction in six months

    mmBy ITPulseOctober 15, 2019
    Facebook Twitter WhatsApp Pinterest LinkedIn Reddit Tumblr Email
    Online transaction , Card payment, Internet banking
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Available records from the Nigerian Inter-Bank Settlement Scheme (NIBSS), an umbrella body of all licensed banks, including the Central Bank of Nigeria (CBN), show that the value of online transaction in Nigeria in the first six months of 2019 is N49.35 trillion.

    This figure is an indication that online transaction in Nigeria and the Central Bank of Nigeria’s financial inclusion initiative is gaining traction, compared to the first half of 2018, when the total online transaction was valued at NGN 36.49 Trillion.

    Meanwhile, as the online financial transaction is soaring, cheque transaction is dwindling.

    According to WeeTracker that analyse this figures, the value of cash transactions via cheques suffered a decline of 11.37 percent from N2.6 trillion in the first six months of 2018 to N2.3 trillion during the first half of this year.

    The report noted that between January and June 2019, the volume of cheques cleared by Nigerian banks dropped by 16.7 percent to 3.95 million compared with 4.74 million recorded in the industry last year.

    Also, figures released by the apex bank indicate that all electronic payment (e-payment) transactions facilitated by Nigerian banks between January and June 2019 totaled NGN 203.35 Tn.

    The electronic paymenet platforms available in Nigeria include Automated Teller Machines (ATMs), Point of Sale (PoS), m-Cash, CentralPay, Remita, Nigeria Interbank Instant Payment (NIBSS) Instant Payment (NIP), and mobile money, among other channels.

    Card payment Internet banking Online transaction
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    mm
    ITPulse
    • Website
    • Facebook
    • Twitter
    • LinkedIn

    ITPulse is a wholly information technology communication (ICT) news website, with a special focus on the African continent. The website provides up-to-date biz-tech news, analysis and comprehensive and thorough insight into the continent's ICT terrain

    Related Posts

    Understanding the End User Billing Policy for USSD Banking in Nigeria

    June 13, 2025

    Benin-Based TFS Cargo Bicycles Among Eight Ventures Selected for Premier Social Innovation Hardware Accelerator

    June 13, 2025

    SiBAN champions consumer, investor, and operator protection in Nigeria’s blockchain revolution

    June 12, 2025

    Leave A Reply Cancel Reply

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    Latest Posts

    A Call for Digital Justice, By Don Pedro Aganbi

    June 14, 2025

    Understanding the End User Billing Policy for USSD Banking in Nigeria

    June 13, 2025

    Benin-Based TFS Cargo Bicycles Among Eight Ventures Selected for Premier Social Innovation Hardware Accelerator

    June 13, 2025
    About
    About

    Itpulse.com.ng is a wholly information technology communication (ICT) news website, with special focus on the African continent. The website provides up-to-date biz-tech news, analysis and a comprehensive and thorough insight info the continent's ICT terrain.

    Contact us: editorial@itpulse.com.ng

    Facebook Twitter LinkedIn RSS
    Latest Posts

    A Call for Digital Justice, By Don Pedro Aganbi

    June 14, 2025

    Understanding the End User Billing Policy for USSD Banking in Nigeria

    June 13, 2025

    Benin-Based TFS Cargo Bicycles Among Eight Ventures Selected for Premier Social Innovation Hardware Accelerator

    June 13, 2025
    Popular Posts

    Benin-Based TFS Cargo Bicycles Among Eight Ventures Selected for Premier Social Innovation Hardware Accelerator

    June 13, 2025

    Writing Code for Future Strangers: Engineering for unknown teams, contexts, and missions

    March 5, 2023

    A Call for Digital Justice, By Don Pedro Aganbi

    June 14, 2025
    © 2017 - 2025 Itpulse. Designed by Max Excellence.
    • Terms & Conditions
    • Privacy Policy
    • Advertise
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.