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adekunle

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PoS Terminals : For a better user experience

Card payments on Point of sale (PoS) terminals in Nigeria have grown in volume from a paltry 5,000 monthly volume in 2011 to 30 million as at November 2018, all thanks to the success of the Cashless Nigeria initiative launched by the Central Bank of Nigeria, CBN, and all banks in Nigeria in 2011. About seven million cards made the 30 million card payments out of an estimated 40 million active cards in circulation in Nigeria; other cards were generally used on Automatic Teller Machines (ATM).

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Naira

Naira appreciates to N358 in parallel market

The Naira, yesterday, appreciated to  N358 .5 per dollar in the parallel market. According to naijabdcs.com, the live exchange rate platform of the Association of Bureaux de change Operators of Nigeria (ABCON),  the parallel market exchange rate  fell to N358 per dollar yesterday  from N360 per dollar the previous week, indicating N2 appreciation for the naira.

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