Despite a ₦647 Trillion Payment Surge, Nigeria’s Informal Sector Clings to Cash-First Habits
Despite the rapid expansion of fintech, internet banking, and mobile payment solutions in Nigeria, cash continues to dominate transactions within the informal sector. According to...
Despite the rapid expansion of fintech, internet banking, and mobile payment solutions in Nigeria, cash continues to dominate transactions within the informal sector. According to Moniepoint’s 2025 Informal Economy Report, only 25% of informal enterprises report that digital payments contribute to at least 10% of their overall income. This statistic highlights a striking contrast amid...