The Central Bank of Nigeria says the volume of electronic payment transactions across six major channels declined by 9.19 per cent in the first quarter of 2026, despite an increase in the total value of transactions. According to the CBN’s latest statistical bulletin, transaction value rose by 2.85 per cent year-on-year to ₦1.053 quadrillion, compared […]
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The Central Bank of Nigeria says the volume of electronic payment transactions across six major channels declined by 9.19 per cent in the first quarter of 2026, despite an increase in the total value of transactions.
According to the CBN’s latest statistical bulletin, transaction value rose by 2.85 per cent year-on-year to ₦1.053 quadrillion, compared with ₦1.024 quadrillion in the corresponding period of 2025.
However, transaction volume fell to 12.57 billion during the period.
The payment channels covered include cheques, Automated Teller Machines, Point of Sale, Web Pay, Mobile Pay and Nigeria Instant Payment.
Point of Sale transactions recorded the sharpest decline, with volume falling by 19.9 per cent to 2.92 billion, while transaction value dropped by 16.42 per cent to ₦59.33 trillion.
ATM transaction value, however, increased by 64.62 per cent to ₦26.3 trillion, while Mobile Pay transaction volume rose by 28.6 per cent to 2.67 billion.
Nigeria Instant Payment transactions declined by 17.7 per cent in volume but increased by 12.55 per cent in value to ₦320.76 trillion.
The figures indicate that Nigerians carried out fewer electronic transactions overall during the quarter, but the average value of individual transactions increased.
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