Nigeria’s electronic payment landscape recorded a remarkable upturn in the first half of 2025, with transactions through Automated Teller Machines (ATMs) soaring by 197.86 percent year-on-year (YoY) to ₦36.34 trillion, up from ₦12.2 trillion in H1’24.
Analysis of the Central Bank of Nigeria (CBN) Quarterly Statistical Bulletin for H1’25 revealed that the volume of ATM transactions also climbed sharply by 72.9 percent YoY to 858.8 million, compared with 496.5 million in the corresponding period of 2024.
Cheque Transactions Show Moderate Growth
Cheque transactions exhibited a steadier rise, with their value increasing by 10.9 percent YoY to ₦9.72 trillion from ₦8.76 trillion in H1’24. The volume of cheques processed grew by 3.63 percent to 7.13 million from 6.88 million, signalling sustained relevance of traditional banking instruments.
Digital Channels Dominate Payments
Point of Sale (PoS) payments surged to ₦147.19 trillion, up 71.3 percent from ₦85.9 trillion in H1’24. The transaction volume also rose by 20.5 percent to 7.7 billion from 6.39 billion. Mobile payments recorded ₦213.58 trillion, growing 33.98 percent YoY, while their volume expanded by 26.6 percent to 4.42 billion.
WebPay (internet) transactions saw their value jump 32 percent YoY to ₦1.09 quadrillion, although transaction volume dipped 7.4 percent to 10.77 billion. National Electronic Fund Transfer (NEFT) transactions increased in value by 6.8 percent to ₦391.24 trillion, but volume declined 17.4 percent to 37 million.
Overall E-Payment Growth
The total value of e-payment transactions across all channels reached ₦1.89 quadrillion in H1’25, marking a 29.5 percent YoY increase from ₦1.46 quadrillion in H1’24. Total transaction volume also rose by 7.9 percent to 23.81 billion from 22.07 billion.
These figures underscore Nigeria’s rapid digital financial adoption, highlighting a strong shift from cash to electronic channels across the banking sector.
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