Digital Banking and Financial Performance Review
Digital Banking Performance (Mobile and Internet Banking)
Increased adoption of
electronic banking
platforms with strong
growth in both volume
and value of Mobile
Banking.
28% year-on-year
growth in Mobile Banking
value grew from N25.8
Mobile Banking Value (in trillions of Naira)
2.8
2.8
2.8
2.8
2.7
2.6
2.7
2.7
2.5
2.5
2.4
2.5
2.4
2.3
2.2
2.0
2.0
2.0
2.0
2.0
1.8
1.6
Mobile Banking Volume (in millions)
3.5
47.18.6
44.7
45.4
41.7
42.6
42.6
39.2
39.5
40.3
41.8
40.0
38.9
34.7
35.2
36.2
37.5
34.7
32.7
30.3
31.4
29.6
25.8
24.0
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2021 2022
2021 2022
trillion in 2021 to N32.8
trillion in 2022 on the
back of an 18% increase
in volume from N414.1
million to N490.6 million
from new users on the
platforms.
Total Value in FY 2022: N32.8 trillion
Total Value in FY 2021: N25.6 trillion
% Growth (y-o-y): 28%
Internet Banking Value (in trillions of Naira)
The decline in USSD and
Internet Banking Volume
indicates customers'
continued preference for
Mobile Banking
channels.
The value of Internet
Banking transactions
declined but remained
strong at N2.62 trillion.
240.22
232.90
229.57
222.70
211.66
215.00 216.48
214.48
200.41 200.52
191.51
Total Volume in FY 2022: 490.6 million
Total Volume in FY 2021: 414.1 million
% Growth (y-o-y): 18%
Internet Banking Volume (in millions)
1.04
1.00
0.94
0.95
0.91
1.02
0.94
0.91
0.93
0.79
0.81
0.82
0.72
0.74
0.71
0.69
0.71
0.72
0.71
0.71
0.67
0.69
243.67
0.89
0.90
252.9
256.9
238.0
230.4
220.4
230.
241.0
238.4
240.5
220.8
219.0
190.4
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2021 2022
2021 2022
Total Value in FY 2022: N2.62 trillion
Total Value in FY 2021: N2.78 trillion
% Growth (y-o-y): (6%)
Total Volume in FY 2022: 8.8 million
Total Volume in FY 2021:11.1 million
% Growth (y-o-y): (20%)
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