- Data has shown that Nigeria, with 55% of financial and commercial transactions in cash, is the most cash-dominant in the world in 2023
- Additionally, Nigerians are shifting to electronic payment methods, which will decline cash use from 2023 to 2027
- Digital wallets however surpassed cash as the most popular payment method worldwide in 2023, making about 16% of all transactions
Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.
With 55% of financial and commercial transactions completed in cash in 2023, Nigeria is rated to be the country with the most cash dominance globally. On the other hand, Norway, with 4.0%, falls at the bottom of the list.
