Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


POS transactions increase to N24bn monthly

22 July 2014, 16:43

Abuja - The Central Bank of Nigeria (CBN) said Point of Sales (POS) transactions value had increased from N38 million per month in 2012 to N24 billion monthly in June, 2014.

This is contained in a report on e-payment transactions released by the apex bank in Abuja on Monday.

According to the report, mobile money transaction values up to N819 million monthly.

“The POS transaction increased in volume from less than 2000 in January 2012 to 1.6 million per month as at June 2014.

“Over 150 000 POS terminal is presently across the country and 22 mobile money operators has been licensed,’’ it added.

It added that licensed Payment Terminal Service providers increased from five to 10 to increase POS terminal penetration across the country.

It noted that Nigeria Inter Bank Settlement System (NIBSS) instant Transfer had increased in volume from 87 000 transactions a month in January 2012 to 3.1 million transactions a month as at June 2014.


For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page.


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...