By Nchetachi Chukwuajah
Withdrawals from commercial banks’ Automated Teller Machines (ATMs) increased by 196 per cent year-on-year to N36.34 trillion in the first half (H1) of 2025.
Also, Point of Sales (POS) transaction values rose from N85.91 trillion in the first half of 2024 to N147.20 trillion in the first half of 2025, while volumes increased from 6.4 billion to 7.72 billion transactions over the same period.
According to data from the Central Bank of Nigeria’s (CBN) Quarterly Statistical Bulletin, the figure of ATM withdrawals is an increase from the N12.21 trillion recorded in the corresponding period of 2024.
The CBN’s data show that the value of ATM withdrawals nearly tripled year-on-year, despite the implementation of new transaction fees in March 2025.
The data also show that transaction volumes rose by 72.98 per cent to 858.8 million withdrawals between January and June 2025, compared with 496.47 million in the same period of 2024.
An analysis of the quarterly data showed that ATM usage increased significantly in 2025. In the first quarter (Q1), the CBN said withdrawals stood at N15.97 trillion, up from N5.46 trillion in the same period of 2024.
The figure represents an increase of N10.51 trillion, or 192.4 per cent, while transaction volumes rose by 95.3 per cent from 210.66 million to 411.42 million.
In the second quarter (Q2) of the year, transactions increased further, with ATM withdrawals rising to N20.36 trillion between April and June 2025, more than triple the N6.75 trillion recorded in Q2 of 2024.
The increase of N13.61 trillion represents a year-on-year growth of about 201.6 per cent, while volumes rose by 56.53 per cent to 447.38 million transactions.
The CBN data also showed that total transactions on Point of Sales (POS) terminals exceeded those recorded at ATMs.
According to the data, POS transaction values rose sharply from N85.91 trillion in the first half of 2024 to N147.20 trillion in the first half of 2025, while volumes increased from 6.4 billion to 7.72 billion transactions over the same period.
The increase in the value of PPOS transactions comes despite higher charges imposed by operators nationwide. Withdrawal fees were increased from N100 to between N150 and N200 for every N5,000 transaction in some states.
The operators had attributed the hike to the N50 Electronic Money Transfer Levy imposed by the CBN on financial technology (fintechs) companies.
