CASH CRUNCH: E-payment platforms record mixed performance
By Elizabeth Adegbesan DESPITE the adoption of electronic payment channels due to cash scarcity occasioned by the Naira redesign policy of the Central Bank of Nigeria (CBN), the value of electronic payment transactions declined while volume of transactions increased. However, most e-payment channels recorded increases in both value and volume. The epayment value fell month-on-month […]
E-payment struggles to grow as transactions hit N69trn in 2017
NIGERIA’s electronic payment industry struggled to grow in 2017, constrained by the impact of economic recession and inflation on the purchasing power of Nigerians and decline in awareness campaign to discourage cash based transactions.
E-payment transactions drop to N19.33trn in Q3, 2017
The National Bureau of Statistics, NBS, has said that the value of e-payment transactions recorded by banks in third quarter (Q3), 2017 declined to N19.33 trillion from N19.78 trillion in the second quarter (Q2) of the year, representing 2.3 percent decrease.
E-payment transactions up 33% to N74.9trn in 2016 — CBN
THE Central Bank of Nigeria, CBN, said the total value of electronic payment (e-payment) transactions in the country in 2016 rose to N74.9 trillion, up 33 percent from N56.3 trillion recorded in 2015.
Level of e-payment adoption still low in MfB — MD Alekun MfB
Loan recovery is a big challenge in the microfinance industry because we don’t have the prerequisite data in this sub-sector like in other clime where they have accurate data. With data you can track your loan customers, though the Bank Verification Number (BVN) is trying to help in this regard but as it is, the cost of acquiring the data capturing machine for microfinance banks is high.
E-payment uncovers 6,499 ghost workers in Benue
MAKURDI—Over 6,499 ghost workers have been discovered on the payroll of the 23 local government councils of Benue State, following the introduction of e-payment system.
