The Nigeria Inter-Bank Settlement System (NIBSS) has revealed that bank customers in Nigeria transferred a total of N1.8 trillion over mobile devices in August this year. This came as an all-time high monthly value recorded since the deployment of the mobile inter-scheme platform.
The August deals represent a 155 per cent increase year on year, compared to the N719 billion recorded in the same month of 2021. The data also shows an 18 per cent growth of over N1.5 trillion recorded in July this year.
According to NIBSS, the volume of mobile inter-scheme transactions also rose by 150.75 per cent year on year from 26.6 million recorded in August last year to 66.7 million in the same period this year.
The surge in the use of mobile for financial transactions is buoyed by the rising mobile connections across the country.
According to the Nigerian Communications Commission (NCC), active subscriptions for mobile services across the networks of MTN, Airtel, Globacom, and 9mobile rose by 13.4 million between January and July this year, bringing the total actively connected lines in the country to 208 million.
