E-PAYMENT TRANSACTIONS HIT N203.35tr IN SIX MONTH-CBN

Written by on October 2, 2019

Data released by Central Bank of Nigeria have shown that
Electronic payment transactions worth N203.35 trillion have
been carried out by banks between January and June, this year.
The data which is CBN half-year e-payment figuresĀ  reveals that
the deals occurred through cheques, Automated Teller
Machines, Point of Sale, m-Cash, CentralPay, Remita, Nigeria
Interbank Instant Payment, Instant Payment, mobile moneyand
other available channels.
The e-payment powers were conferred on the CBN by Sections
2 (d) and 47 (2) of the CBN Act, 2007, to promote the
development of efficient and effective systems for the settlement
of transactions, including the development of electronic payment
systems; the CBN hereby issue the following Guidelines on
Operations of Electronic Payment Channels in Nigeria.


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