Bank transfers jump to N1.5trn monthly on CBN’s cashless policy

Filed under: Banking,main story |

Value of interbank transfers, captured through the Nigerian Inter- Bank Settlement System (NIBSS), jumped from N51 billion monthly in January 2012 to over N1.5 trillion as at June 2014, helped by the cashless policy of the Central Bank of Nigeria (CBN). In volume, NIBSS transfers rose from 87,000 transactions a month in January 2012 to…

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