Lagos - The total amount of money transferred through the Nigerian Inter- Bank Settlement System (NIBSS) increased to over N1.5 trillion as at June 2014, up from the N51 billion monthly figure in January 2012.
The increase was facilitated by the cashless policy of the Central Bank of Nigeria (CBN), reports BusinessDay.
Similarly, the volume of money transfers made through the NIBSS grew to 3.1 million transactions a month, up from 87,000 transactions recorded in a month in January 2012.
Read more at BusinessDay
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