The volume of ATM transactions with the six-year period stood at about 4 billion; meaning that Nigerians used the ATMs four billion times in six years. Lawal said users are becoming increasingly frustrated with PoS debit errors, network glitches, card rejection, dispense errors, and non-reversal of failed transactions at PoS, and ATM terminals. They specifically complained about undue delays in electronic transactions arising from network failure. The Guardian findings showed that there has been significant increase in the number of ATM terminals deployed, transaction volumes and values. Furthermore, the data showed that ATM terminals rose to 18,615 with 875.5 million-transaction volume, valued at N6.5 Trillion.

Source: The Guardian August 19, 2020 03:50 UTC