Shares Editor’s note [14th January at 9:30pm WAT]: Original headline edited to accurately capture what the NIBSS figures represent – a spike in e-transactions, as opposed to cashless transactions (which are difficult to track). In 2020, the coronavirus pandemic disrupted several business and social activities. Though electronic transactions took a hit when the Nigerian government implemented a lockdown, they rebounded almost immediately with electronic transactions reaching an all-time high in December 2020. According to data from the Nigeria Inter-Bank Settlement System (NIBSS), in 2020, Nigerian merchants and mobile money operators processed over 655 million point of sale (POS) transactions valued at ₦4.7 trillion ($13 billion). This number presents a 50% increase from 2019.