National Economy
Wednesday, August 6, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Business

POS Transactions Reach N11.67tn In 4 Years

by `
4 years ago
in Business, News
Reading Time: 2 mins read
POS
Share on FacebookShare on TwitterShare on Telegram

You May Like

NADDC Rallies Stakeholders For Local Content Push In Nigeria’s Auto Industry

NSDC Rallies Investors To Seize $2bn Sugar Market

Value of Point of Sale (POS) transactions in Nigeria reached N11.67trillion in four years, data from the Nigeria Interbank Settlement System has shown.

From 2017 to 2020, 1.53bn PoS transactions were carried out across the nation.

In 2017, there were 146.27 million PoS transactions totaling N1.41tn. In 2018, PoS transactions increased by 95.46 per cent to 285.89 million, and total value increased by 64.76 per cent to N2.32tn.

In 2019, PoS transactions increased by 53.42 per cent to 438.61 million transactions, and the total value increased by 37.97 per cent to N3.21tn.

In 2020, PoS transactions increased by 49.51 per cent to 655.75 million as the total value increased by 47.50 per cent to N4.73tn.

According to the NIBSS, PoS transactions peak from October to December, with December witnessing the most transaction volumes and values yearly.

Over the four-year period, transaction values from October to December made up 31.12 per cent of total transaction values (N3.63tn), and 31.51 per cent of transaction volumes (481.02 million).

According to the NIBSS, in 2019 and 2020, transaction volumes were highest in Lagos, Federal Capital Territory, Rivers, Oyo, and Delta states.

In both years, Lagos accounted for more than 50 per cent of transactions – 51.5 per cent in 2019 and 69.2 per cent in 2020.

Taraba, Zamfara, Sokoto, Yobe, and Kebbi were the bottom five states in both years.

The total transaction volume from the five states was not up to one per cent of the national transaction volumes for both years.

According to the NIBSS, in December 2017 there were 182,806 registered PoS terminals.

In 2018, it increased to 258,443. In 2019, it increased to 446,453. In December 2020, there were 690,090 registered PoS terminals.

In December 2017, the total number of deployed PoS in the nation was 155,462. In 2018, it increased to 217,283. In 2019, it was 303,162.

In December 2020, there were 459,285 deployed PoS terminals in the country.

ShareTweetShare
Previous Post

Entrepreneurship, Catalyst For Industrialisation

Next Post

Izzi Wears: Defining Self-Expression Through Fashion And Culture

ANOTHER GOOD READ

NADDC Rallies Stakeholders For Local Content Push In Nigeria’s Auto Industry
News

NADDC Rallies Stakeholders For Local Content Push In Nigeria’s Auto Industry

8 hours ago
NSDC Rallies Investors To Seize $2bn Sugar Market
Business

NSDC Rallies Investors To Seize $2bn Sugar Market

8 hours ago
NAICOM Appoints Interim Board To Oversee African Alliance Insurance
Business

NAICOM Issues New Rules For Insurtech Firms

9 hours ago
SEREC Backs Customs’ Digital Drive To Tackle Cartels, Smuggling Customs
News

Nigeria Customs Launches Service Reputation Management Guide

9 hours ago
Lagos, Rivers, Delta Top Nigeria’s Subnational Debt Chart In Q1
Business

Lagos, Rivers, Delta Top Nigeria’s Subnational Debt Chart In Q1

13 hours ago
‘Banks Sent Pretty Ladies To Me For Deposit, Asked Thugs To Recover Debt’, Billionaire Otedola Reveals
Business

‘Banks Sent Pretty Ladies To Me For Deposit, Asked Thugs To Recover Debt’, Billionaire Otedola Reveals

16 hours ago
Next Post
African Men In Fashion: Izzy’s Wears’ Designs From The 2024 Infinite Identity Collections

Izzi Wears: Defining Self-Expression Through Fashion And Culture

Most Recent

NADDC Rallies Stakeholders For Local Content Push In Nigeria’s Auto Industry

NADDC Rallies Stakeholders For Local Content Push In Nigeria’s Auto Industry

August 6, 2025
NSDC Rallies Investors To Seize $2bn Sugar Market

NSDC Rallies Investors To Seize $2bn Sugar Market

August 6, 2025
NAICOM Appoints Interim Board To Oversee African Alliance Insurance

NAICOM Issues New Rules For Insurtech Firms

August 6, 2025
FG Backs Tech-enabled Youth-led Agribusiness Shift

FG Backs Tech-enabled Youth-led Agribusiness Shift

August 6, 2025
SEREC Backs Customs’ Digital Drive To Tackle Cartels, Smuggling Customs

Nigeria Customs Launches Service Reputation Management Guide

August 6, 2025
Lagos, Rivers, Delta Top Nigeria’s Subnational Debt Chart In Q1

Lagos, Rivers, Delta Top Nigeria’s Subnational Debt Chart In Q1

August 5, 2025
‘Banks Sent Pretty Ladies To Me For Deposit, Asked Thugs To Recover Debt’, Billionaire Otedola Reveals

‘Banks Sent Pretty Ladies To Me For Deposit, Asked Thugs To Recover Debt’, Billionaire Otedola Reveals

August 5, 2025
Tinubu Approves N4.2bn For 158 TETFund Research Projects

Tinubu Approves N4.2bn For 158 TETFund Research Projects

August 5, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy