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POS Transactions Soar in Nigeria

The numbers are huge: "Point of sale transactions carried out in Nigeria in the first eight months of the year stood at N4.06 trillion, representing a 45% increase compared to N2.81 trillion recorded in the corresponding period of 2020. This is based on data obtained from the Nigeria Inter-Bank Settlement System (NIBSS)", Nairametrics repots.

According to the data, POS transactions hit its highest levels for any eight-month period, increasing by 44.8% and 108% compared to N2.81 trillion and N1.96 trillion recorded in the similar period of 2020 and 2019 respectively.

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