STRATEGIC PARTNERS
May 10, 2018
Nigeria's National Bureau of Statistics has release a report showing that the majority of banking transactions in the first quarter of 2018 were conducted at the nation's ATMs.
Out of a total of 457,226,406 electronic transactions in the quarter, valued at 32.5 trillion naira ($90.1 billion), 94.4 percent were at ATMs. POS, mobile and web-based transactions comprised 12.9 5.2 and 2.5 percent of transactions, respectively, according to a report by Business Day.
As of June 30, 2017, Nigeria had approximately 17,700 ATMs nationwide. The number of ATMs increased 3.7 percent from June of 2016, while transaction volume and value increased 40.4 and 38.2 percent, respectively.
Nigeria's installed ATM base served a population of approximately 190 million in 2017, a ratio of 1 ATM per 10,734 residents.
