Nigeria’s physical banking shrinks in one year as customers turn to PoS terminals for daily transactions.
Data has shown that the number of Deposit Money Bank branches across the country fell from 5,373 in 2023 to 5,144 in 2024, even as electronic payments, particularly through PoS channels, surged sharply. The statistics cover branches and cash centres of commercial, merchant and non-interest banks across the 36 states and the Federal Capital Territory….