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HomeNewsNigeria: ATM transactions hit 1.7t naira

Nigeria: ATM transactions hit 1.7t naira

Transactions volume from about 15,000 Automated Teller Machines (ATMs) across Nigeria has hit an all time high of 1.7 trillion naira, according to the Central Bank of Nigeria (CBN).

The local media Friday quoted CBN’s Director of Payment Systems Dipo Fatokun as saying
Nigeria increased its ATM machines from 10,727 in 2012 to 15, 000 by June 2014, with the transaction volume also moving from 1.3 trillion naira to 1.7 trillion naira within the same period (US$1=155 Naira).

In addition, he said, the country has increased its Point of Sales (PoS) terminals from 21,400 in 2012 to 135,000 as at June 2014.

The PoS terminals’ transaction volume also increased from 57.3 billion naira in 2012 to 138 billion naira by June this year.

Other electronic transfer channels have also increased in volume of transactions.


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