The Nigeria Inter-Bank Settlement Systems (NIBSS) has said that Lagos accounted for 30 per cent of all electronic payment transactions carried out in Nigeria last year. With this, it described the state as the hub of e-payment in Nigeria as other states were far behind in terms of the percentage of transactions.
NIBSS, in its 2020 Instant Payments Statistics, disclosed that the Federal Capital Territory (FCT), Abuja, came a distant second as it accounted for seven per cent of e-payment transaction volume in the country. Other leading states that shared the top five spots include Ogun, Rivers, and Oyo, accounting for six, six, and five per cent of electronic transactions in that order. While noting that COVID- 19 had forever changed the e-payments landscape, NIBSS said the pandemic accelerated the adoption of instant payments as the population transitioned to electronic channels for funds exchange in the wake of government-imposed lockdowns…
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News Archive from before July 2018