Nigerian E-payment Transaction Value Rises to N1,053 Trillion Despite Volume Drop

Electronic payment transactions in Nigeria experienced a slight increase in value during the first quarter of 2026, reaching N1.053 quadrillion. This marks a 2.85% rise compared to the same period in the previous year. However, this growth in value was accompanied by a significant 9.2% decrease in the overall volume of transactions.

The data reveals a notable shift in transaction methods. Point-of-Sale (POS) transactions, a common method for everyday purchases, saw a substantial 20% decline in value. Conversely, Automated Teller Machine (ATM) transactions experienced a dramatic surge, with their value jumping by 64.6% to N26.3 trillion.

These figures suggest a potential change in consumer behavior and payment preferences within Nigeria. The decrease in POS transaction volume and value, coupled with the rise in ATM usage, could indicate a move towards larger cash withdrawals or different spending patterns. The overall increase in transaction value, despite lower volume, points to potentially larger individual transactions occurring through the channels that are still active.