Electronic Payment Transactions Hit N21.27tn in May


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Obinna Chima

Transactions across various electronic payment channels rose marginally by 0.38 per cent to N21.27 trillion in May 2021, up from the N21.19 trillion recorded in April 2021.

Managing Director, Financial Derivatives Company Limited and a member of President Buhari’s Economic Advisory Council, Mr. Bismarck Rewane, gave the figure in a report titled: “Economic Policy: More Clarity and Less Ambivalence,” which he presented at the Lagos Business School’s executive breakfast session at the weekend.
The report showed that the value of transactions was flat due to the slow level of economic activities recorded last month.

It showed that while point of sales (PoS) transactions declined marginally to N503.96 billion in May, down from N507.86 billion the previous month; transactions via NIBSS Instant Payment climbed to N21.246 trillion, as against N21.191 trillion recorded the previous month.

According to the report, May was a month…

Source: Thisday Newspaper