deposit 5000
slot deposit 5000
slot gacor situs toto
togel online
toto 4d
situs slot toto 4ddemo slot gacorslot 88
slot gacor slot gacor
slot gacor
brenjitu
slot gacor
situs toto
situs toto
SITUS TOTO
situs toto
TOTO 4D
SITUS TOTO 4D
SLOT GACOR
https://booking.embuni.ac.ke/live-draw-sydney-hongkong
TOTO 4D
toto togel
slot online
slot gacor
slot gacor
slot pulsa
hongkong lotto
slot gacor
brenjitu
slot pragmatic
situs bola
situs gacor
situs toto
situs slot gacor
slot 4d

Naira scarcity: Cashless transactions drop to N37.67tn

Oluwanifemi Ojo
Oluwanifemi Ojo
CBN orders banks to collect old Naira notes

Cashless transactions which is also referred to as online transaction fell to N37.67tn in February 2023 because of delayed and failed money transfers.

The new data accessed from the Nigeria Inter-Bank Settlement System on Monday by The Punch revealed it was a 4.83 per cent fall from the N39.58tn recorded in January.

Despite the fact that the e-payment gateways were used 901.46 million times, higher than the 638 million times it was used in January, the total value of succesful online transactions fell in January.

Meanwhile, it was reported that since 2020, the NIBSS has not updated its efficiency platform portal, which states the number of failed transitions and more.

The Nigeria Instant Payment System and Point of Sales terminals are the primary payment switches in the nation, and both systems record cashless transactions. From N38.772 trillion in January, the total NIP (immediate payments) dropped to N36.79 trillion in February.

Data from NIBB showed that PoS terminals were still being used, as the value of PoS transactions increased from N807.16 billion in January to N883.45 billion in February.

This publication recalls that the Central Bank of Nigeria announced its naira redesign policy and withdrawal limits, in 2022.

Since this announcement, Nigerians have had to adopt electronic forms of transactions.

While announcing the policy, the Central Bank of Nigeria said, “Customers should be encouraged to use alternative channels (Internet banking, mobile banking apps, USSD, cards/POS, eNaira, etc.) to conduct their banking transactions.”

However, the pressure of increased use of electronic transactions overwhelmed the banking sector, as the capacity for the sudden surge was not there, causing transactions failures.

According to the report, President of the Bank Customers Association of Nigeria, Dr Uju Ogunbunka, recently said, “You know the banks do not provide network services. Based on what we found out, there was a failure in the network system.”


Share this Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

situs totoslot thailand situs totoslot gacor situs toto slot online situs toto demo slot gacor situs slot gacorsitus 4d situs totoslot gacorslot gacorslot gacorslot gacorslot gacor
slot gacor
slot gacor situs toto
togel online
toto 4d
situs slot slot demo pgslot 88
slot gacor slot gacor
slot gacor
brenjitu
situs toto
situs toto
SITUS TOTO
toto macau 4d
TOTO 4D
SITUS TOTO 4D
SLOT GACOR
https://booking.embuni.ac.ke/live-draw-sydney-hongkong
TOTO 4D
toto togel
slot online
slot gacor
slot pulsa
hongkong lotto
slot gacor
slot gacor
slot pragmatic
situs bola
situs gacor
situs toto
situs slot gacor
situs totoslot gacordemo slot situs slot gacor
slot66
slot gacor
situs slot gacor
slot gacor
scatter hitam
scatter hitam
slot gacor scatter hitam
scatter hitam
situs slot gacor pulsa
situs baru slot gacor
error code: 521 error code: 521 ?> error code: 521 error code: 521
Hacklinkbetsat
betsat
betsat
holiganbet
holiganbet
holiganbet
Jojobet giriş
Jojobet giriş
Jojobet giriş
casibom giriş
casibom giriş
casibom giriş
xbet
xbet
xbet
grandpashabet
grandpashabet
grandpashabet
tuzla evden eve nakliyat
İzmir psikoloji
creative news
Digital marketing
radio kalasin
radinongkhai
gebze escort
grandpashabet
grandpashabet
casibom güncel giriş
casibom
bets10 güncel giriş
jojobet
sultanbeyli çekici
beylikdüzü escort
setrabet
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler
instagram followers buy
casinolevant
betnano giriş
casibom giriş
casibom
casibom
Meritking
meritking
deneme bonusu veren siteler 2024
casibom