Nigeria POS Daily Transaction Hits N1.5 Billion

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The Central Bank of Nigeria (CBN) has said that Nigeria averages about
N1.5 billion worth of transactions on the Point Of Sales (POS) terminal
Mr Dipo Fatokun, the Director, Banking and Payment System
Department (BPSD), CBN, said this in Abuja on Wednesday at the apex
bank’s e-Payment Incentive Scheme (EPIS) cash reward presentation.
The incentive scheme is to reward users of electronic payment platforms
in Nigeria and to further encourage greater patronage of government’s
cashless policy by members of the public.
The scheme is also aimed at promoting financial inclusion.
Fatokun said that the use of POS terminals had increased from 5,000 in
2011 prior to the inauguration of the cashless policy, to about 120, 000
desktop terminals in 2015

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