The value of utility payments made via electronic transactions declined by 44.86 per cent from ₦164.89 billion reported in January 2023 to ₦90.93 billion in February 2023 amid the Central Bank of Nigeria, CBN’s cashless drive.
According to the Nigeria Inter-Bank Settlement System, NIBBS, transactions using e-bills have been on a steady increase since February 2020 when the figures stood at ₦78.38 billion.