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Nigeria's Unstoppable Digital Payments Boom Meets Immovable Object: Cash
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Nigeria's Unstoppable Digital Payments Boom Meets Immovable Object: Cash
While Nigeria’s payment landscape touts a digital revolution, the country’s economy is telling a different story: a 300% surge in electronic transactions since 2020 has not dethroned cash, which remains the undisputed king for millions. New data from Nigeria’s banking sector compiled by professional services firm, Proshare, reveals a paradox. Despite electronic payment volumes growing 276% over five years, a staggering 95% of the country’s NGN 5…
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