The Nigeria Interbank Settlement System (NIBSS) has revealed that the value of e-payment transactions rose to N135.52 trillion in the first quarter of 2023.
This represents a 298% increase year-on-year (YoY) compared to N34.04 trillion in the same period last year.
The increase in electronic transactions can be attributed to the cash shortage that persisted for more than two months, a direct consequence of the Central Bank of Nigeria‘s (CBN) Naira Redesign policy implementation.
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