POS Transactions Surge 79% to N18.78 Trillion, But Fibre Cuts Threaten Cashless Gains

POS transactions in Nigeria surged to ₦18.78 trillion in Q1 2026, a 79% year-on-year increase, averaging ₦208.7 billion processed daily. Data from the Nigeria Inter-Bank Settlement System (NIBSS) reveals a dramatic expansion of electronic payments beyond traditional bank branches, with agent banking emerging as the primary channel for financial inclusion in markets, transport hubs, and remote communities. The Central Bank of Nigeria's revised Agent Banking Guidelines,...