Nigerians spent $5 billion on electronic bills such as power, PayTV, and other utilities in the first nine months of 2022, a 30.84 per cent increase from the $3.8 billion that was spent in the corresponding period of 2021.
According to data from the Nigeria Inter-Bank Settlement System, this is the first-time electronic channels have been used to process over $4.9 billion in utility bills.
E-bills include daily bill transactions that are accessible and seamless, with online real-time transaction reporting, biller notification, and easy reconciliation.
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