One PoS for 38 Nigerians fills ATM’s cash crunch

Point of Sales (PoS) terminals have become much more critical to financial services than automated teller machines (ATMs), according to new data from the Nigeria Inter-Bank Settlement System (NIBSS). The country now has one PoS terminal for 38 citizens, dwarfing the one ATM for every 12,923 Nigerians. This highlights the growing reliance on PoS operators, who have repeatedly filled the void left by ATMs. NIBSS data show that deployed PoS terminals reached 5.56 million by the end of 2024, a 127.07 percent increase from 2023. Based on the N