TOP STORY: Failed transactions drop e-payment transactions to N37trn in February | TheCable
This figure represents a 4.83 percent decrease from the N39.58 trillion that was recorded in January 2023.
The agency added that cashless transactions were done 901.46 million times in February, compared to 638 million times in January.However, despite the increase in usage due to the cashless policy and naira redesign initiated by the Central Bank of Nigeria , the total value of cashless transactions fell in February, thereby indicating an increase in the number of failed transactions.
It said the total instant payment transactions in February fell to N36.79 trillion compared to the N38.77 trillion recorded in January.Also, the report showed that despite the scarcity of naira witnessed in the month, the value of PoS transactions grew from N807.16 billion in January to N883.45 billion in February.
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