In November 2022, the total number of Point of Sales (POS) machines installed by merchants and people across Nigeria hit 1.6 million.
According to data from the Nigeria Inter-Bank Settlement System (NIBSS), 703, 208 POS terminals were deployed in the previous eleven months (between January and November 2022).
The overall number of POS deployed in the country as of December 2021 was 915,519 devices.
However, there is still a significant disparity between the number of POS registered and the number of deployed systems.
According to NIBSS data, 2.363 million POS devices were registered across the country as of November of this year, indicating that 744,987 terminals have yet to be installed or have been inactive.