BusinessBanking/FinanceBank Customers' Mobile Transfers Hit N13trn

Bank Customers’ Mobile Transfers Hit N13trn

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Inter-bank mobile transfers hit N12.8 billion in the first nine months of this year, according to the Nigeria Inter-Bank Settlement System, NIBSS.

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The NIBSS which gave a month-by-month figure said bank customers made the transfers between January and September this year using their mobile telephone devices.

The data released by the interbank clearing house further revealed that the mobile transfer year-on-year is higher by N8 trillion compared to the 2021 figures, a growth of over 150 percent in the period under review.

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Analysis of the value of the transactions showed that the sum of N1.05 trillion was transferred through mobile in January alone.

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In February, transactions worth N1.09 trillion were carried over mobile while in March, a total of N1.37 trillion was recorded as mobile transfers.

In April, the value of mobile transactions also stood at N1.37 trillion, while the same figure was recorded in May.

The NIBSS data showed that bank customers in the country carried out financial transactions worth N1.47 trillion in June this year, while the figure rose to N1.55 trillion in July.

In August a total of N1.8 trillion was transferred over mobile devices. This came as an all-time high monthly value recorded since the deployment of the mobile inter-scheme platform.

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The value of mobile transactions in September stood at N1.7 trillion, according to figures released by NIBSS.


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