Nigeria's economy increasingly driven by digital networks and payments

Nigeria is experiencing a significant economic shift driven by telecommunications infrastructure and digital connectivity. The scale of activity moving through these networks is becoming inseparable from the broader economy, as data traffic rises and digital payments expand. According to data from the Nigeria Inter-Bank Settlement System (NIBSS), the value of Point-of-Sale (PoS) transactions reached N18.78 trillion in the first quarter of 2026, representing a 79.03 per cent increase from the same period in 2025.

However, this digital expansion faces operational hurdles, particularly regarding cross-border payments for small and medium-sized enterprises (SMEs). Nigerian businesses face heightened risks due to the complexity and opacity of international payment settlements. Difficulties in tracking funds through intermediary banks often lead to disputes with overseas suppliers and delays in receiving foreign exchange. To mitigate these risks, businesses are increasingly looking for specialized payment partners that offer regulatory compliance, real-time transaction visibility, and operational speed.