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Nigeria’s cash payments to fall 32% on digital transaction surge

Nigeria is undergoing a significant shift toward digital payment methods, with cash payments projected to decline by 32 percent by read more Nigeria’s cash payments to fall 32% on digital transaction surge



Nigeria's cash payments are projected to fall 32% by 2030 due to a surge in digital transactions. While Nigeria led MEA in cash usage for PoS transactions in 2024 (40%), A2A transfers via NIP are now the top e-commerce payment method. Electronic payments reached N1.07 quadrillion in 2024, with NIBSS processing 11.2 billion transactions, a 15.5% increase. PoS transactions also surged to N19.4 trillion, an 81% rise.

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