March 15, 2023/Cordros Update Nigeria’s headline inflation rose by 10bps in February to 21.91% y/y (January: 21.82% y/y). The outturn is 20bps lower than Cordros’ estimate (22.11% y/y), but 11bps higher than Bloomberg’s median consensus estimate (21.80% y/y). However, on a month-on-month basis, headline inflation eased by 15bps to 1.71% […]
OPINION/EDITORIAL
E- Payment’s Usage Surge by 41.29% in February
March 15, 2023/CSL Research Based on new data from the Nigeria Inter-Bank Settlement System (NIBBS), online transactions grew 41.29% as cashless gateways were used 901.46 million times in February compared with 638 million times in January. Despite an increase in usage, the total value of cashless transactions fell in February, […]
Failed e-Payments and Lack of Cash weigh on Economic Activities
March 15, 2023/United Capital Research Most recent data from the Nigeria Inter-Bank Settlement System (NIBSS) revealed that the total value of cashless transactions in the Nigerian economy declined by 4.8% in February 2023 to print at N37.7tn relative to N39.6tn recorded in January 2023. The key driver of the observed […]
