Nigeria’s E-payment transactions hit N56.85trn
Reports from the Nigerian Interbank Settlement System (NIBSS), have indicated that Nigeria’s electronic payment (e-payment) services, recorded transactions worth N56.85 trillion from January to September, 2018.
The report, obtained by the News Agency of Nigeria (NAN) on Sunday, showed an increase of N16.4 trillion when compared to the N40.45 trillion that was recorded in the corresponding period of 2017.
The report showed that most of the electronic transactions were done through the NIBSS Instant Payment (NIP), Point of Sale (PoS), Automated Transfer Machines (ATMs), Mobile Money, Electronic Bills Payment (E-Bills) and Web payments.
A breakdown of the report showed that ATMs transactions grew from N4.61 trillion in 2017 to N4.76 trillion at the end of the third quarter of 2018.
Also, the volume of transactions on ATMs under the period in review grew from 560.86 million in 2017, to 650.06 million in 2018.
The report showed a rise of about N635 billion in the use of POS machines to carry out payments by Nigerians.
Under the review period, 98.73 million transactions worth N975 billion were carried out using POS in 2017, while in 2018, the volume grew to 196.83 million, valued at N1.61 trillion.
Similarly, the volume of transactions carried out by Nigerians, using mobile money rose from N795.18 billion in 2017, to N1.22 trillion as at Sept, 2018.
Also, using the web payment channel, the total value of transactions under the review period rose from N129.24 billion in 2017, to N183.07 billion in 2018.
However, the value of such transactions on e-bill payments, which allowed customers to pay utility bills such as power, cable and so on online, declined from N420.73 billion in 2017 to N370 billion in 2018.
Meanwhile a Financial analyst, Dr Patricia Auta, has said that the NIBSS report showed an increased awareness and use of technology by individuals and businesses in the country.
Auta urged the Central Bank of Nigeria (CBN), to intensify efforts on cashless economy, especially in states, to further grow the electronic payment space.
She also advised banks to stay competitive and drive growth by providing innovative alternate payment channels to customers.
CLARIFICATION ON INVITATION OF MEDIA TRUST STAFF BY THE SECURITY AGENCIES
The Nigerian Army wishes to clarify on alleged invasion of Media Trust Headquarters in Abuja and regional office in Maiduguri. We would like to state that soldiers of the Nigerian Army along with elements of Nigeria Police Force and other Security Agencies were indeed at Abuja and Maiduguri offices of the publishing company to invite the staff of the company over its lead story on Sunday Trust publication, which divulged classified military information, thus undermining national security.
In it, the newspaper made disclosed details of planned military operations against the Boko Haram terrorists. The disclosure of classified security information amounts to a breach of national security and run contrary to Sections 1 and 2 of the Official Secrets Act. It afforded the Boko Haram terrorists prior notice of our plans and giving them early warning to prepare against the Nigerian military, thus sabotaging the planned operations and putting the lives of troops in imminent and clear danger.
We would like to state that the invitation of those responsible for divulging military plans was done with the best of intention in order to make them realise the import of such acts to our national security.
We therefore advice all, particularly journalists, not to worry but engage in their responsive reportage and to be professional as the Nigerian Army has no intention of muzzling the press or jeopardising press freedom. We however, wish to enjoin further that they should eschew jeopardizing national security in their reportage. We would not tolerate situation where a publication would consistently side with terrorists and undermine our National institutions.
We wish to appeal to all, especially the media, to join hands with the Nigerian military and security forces to end terrorism and insurgency in Nigeria. We would like to further assure that the invitation is for further investigation and if need be, all those culpable of jeopardising operations security will be prosecuted by the relevant law enforcement agency.
You are please requested to disseminate this information to the public through your medium.
Thank you for your kind cooperation.
SANI KUKASHEKA USMAN
Brigadier General
Director Army Public Relations