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NIGERIA INTER-BANK SETTLEMENT SYSTEMS
The Nigeria Inter-Bank Settlement Systems (NIBSS) has revealed that Nigerians spent a total of N38.7 trillion over electronic channels in January 2023
Nairametrics understands that this is the highest monthly transaction record on the platform
The NIBSS has revealed that transactions worth N33.2 trillion were performed electronically in August through the NIBSS Instant Payment platform (NIP).
According to NIBSS, the value of e-payment recorded was a reflection of the increase in the volume of deals within the period.
The NIBSS has said that transactions worth N114.8 trillion were performed electronically in Nigeria between January and April this year.
As part of its efforts to deepen financial inclusion and maintain its commitment to achieving the 80% target by year 2020 in the country, the Central Bank of Nigeria has authorized commercial banks to now fully operate mobile money wallets.