NEWS

Nigeria POS Daily Transaction Hits N1.5 Billion

POS

The Central Bank of Nigeria (CBN) has said that Nigeria averages about N1.5 billion worth of transactions on the Point Of Sales (POS) terminal daily.

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Mr Dipo Fatokun, the Director, Banking and Payment System Department (BPSD), CBN, said this in Abuja on Wednesday at the apex bank’s e-Payment Incentive Scheme (EPIS) cash reward presentation.

The incentive scheme is to reward users of electronic payment platforms in Nigeria and to further encourage greater patronage of government’s cashless policy by members of the public.

The scheme is also aimed at promoting financial inclusion.

Fatokun said that the use of POS terminals had increased from 5,000 in 2011 prior to the inauguration of the cashless policy, to about 120, 000 desktop terminals in 2015.

 

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