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Mobile Money Transactions Surge 81% – CBN Reports
The Central Bank of Nigeria (CBN) has reported that mobile money transactions in 2025 surged to N372.14 trillion, representing an 81 per cent increase from N205.31 trillion in 2024.
The growth reflects wider adoption of digital financial services and the expansion of agent networks across the country.
According to the CBN’s 2025 Annual Report, transaction volumes processed by Mobile Money Operators rose by 65.8 per cent to 28.74 billion, up from 17.34 billion in 2024. The bank attributed the rise to increased agent onboarding, technological innovation, and stronger collaboration with stakeholders.
Nigeria had 84 licensed Payment Service Providers at the end of 2025, including eight Mobile Money Operators such as OPay, PalmPay, Paga, and eTranzact.
The report also noted that retail e-payment transactions grew by 26 per cent to N3,458.77 trillion, driven by user preference for digital channels, e-commerce growth, and infrastructure improvements.
ATM transactions recorded the highest growth rate, rising 61.9 per cent to 1.66 billion. USSD transactions increased by 20.9 per cent to 669.55 million, while Point-of-Sale transactions grew by 19.8 per cent to 15.66 billion.
However, transaction volumes declined through mobile applications, internet platforms, and direct debit channels.
The report further showed that cheque usage continued to fall, with transaction value dropping nearly 50 per cent to N1.84 trillion.
The CBN said it is developing e-cheque and QR code functionalities to align with modern payment expectations, while wholesale payments through the Real Time Gross Settlement system more than doubled to N454.60 trillion, reflecting stronger economic activity.
