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Amid various teething challenges confronting the digital space, electronic payment transactions in December stood at N71 trillion, bringing the total volume of transactions last year to N600 trillion.
The future of banking is fully digital, PPC Limited, an ICT and infrastructure development company, has asserted.
Amid huge financial turnover recorded in the first three quarters of 2022 by banks in the country and claims of N100 billion investment in electronic channels, digital banking has remained very challenging for many Nigerians in the last few weeks since the introduction of the new cash policy.
The present cash drought across the country occasioned by the redesigned naira policy of the Central Bank of Nigeria (CBN) has shown that banks’
Financial institutions have been instructed to upgrade their e-payment platforms as more Nigerians turn to electronic payment methods due to severe cash shortages in the economy.