Digital Banking and Financial Performance Review
Digital Banking Performance (USSD)
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Continuous growth in the adoption of digital banking platforms both in transaction volume and value and over 2 million users on GTWorld and Mobile Banking
The introduction of 2-factor authentication and the impact of the N6.98 flat fee on successful USSD transactions continued to weigh negatively on the volumes and
values of transactions consummated using USSD, leading to behavioural change as customers switched to GTWorld to consummate their NIP and other e-payments.
USSD Value (in billions of Naira)
USSD Volume (in millions)
391.9
369.9
368.0
364.3
363.9
355.6
333.8
330.6
335.2
312.3
301.1
301.1
293.2
286.6
286.2
281.9
277.0
286.6
286.2
280.8
281.9
268.8
270.5 270.2
277.0
268.8 270.5
270.2
262.8
251.4
262.8
251.4
227.0 231.2
227.0 231.2
391.9
368.0
364.3
369.9 363.9
355.6
335.2
333.8
330.6
312.3
293.2
280.8
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: N3.21 trillion
Total Value in FY 2021: N4.12 trillion
% Growth (y-o-y): (22%)
Total Volume in FY 2022: 972 million
Total Volume in FY 2021: 966.9 million
% Growth (y-o-y): 1%
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