e-Commerce: Challenges, Prospects of Online Transactions in Nigeria

As at Jan 31, 2001

• With over 30 million chip/PIN credit/debit cards in circulation nationwide
• With over 10,000 ATMs nationwide
• With over 15,000 PoS terminals deployed across Nigeria
• The e-Payment Providers Association of Nigeria has said the payment card industry in the country is worth over N23.4tn, while monthly ATM transactions are N80bn and payments on PoS terminals, N1.4bn
• Internet usage in Nigeria has grown from 3% in 2006 to 16% in 2009