Point-of-Sale (PoS) transactions in Nigeria are set to reach N8.96 trillion by the end of May 2026, rebounding from a slight 1.82 per cent dip suffered in April, this year.

According to payment system data, PoS transactions stood at N7.70 trillion in March 2026 before declining by 1.82 per cent to N7.56 trillion in April.

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The expected sharp recovery in May is anticipated to be supported by seasonal factors, including the Eid El Kabir celebrations and increased economic activity around the Hajj travel period.

Overall electronic payment values across all channels fell by 1.97 percent to N126.98 trillion in April from N129.53 trillion in March. While the National Inter-bank Transfer (NIP) recorded a marginal increase of 0.09 percent to N113.78 trillion, other channels such as NEFT and Cheques saw steeper declines.

Analysts, however, expect a moderate uptick in overall transaction values to N130.49 trillion in May.

This is also as projected growth is likely to be constrained by elevated price levels that continue to erode real purchasing power, cautious corporate spending, and tight interest rates limiting liquidity.

The rebound in POS usage underscores its growing importance in retail payments, agency banking, and the broader cashless transition. While cheque usage continues its sharp decline—reflecting reduced reliance on paper-based instruments—NIP remains the dominant channel due to its speed and convenience, with NEFT showing steady structural relevance.