Nigerians are returning to ATMs as PoS transactions fall 20%
After years of losing ground to Point-of-Sale (PoS) agents, Automated Teller Machines (ATMs) are making a comeback as transaction volumes rise while PoS volumes decline.
Nigerians are increasingly turning to Automated Teller Machines (ATMs) as Point-of-Sale (PoS) transactions decline, according to data released by the Central Bank of Nigeria (CBN). In the first quarter of 2026, Nigerians conducted 438.6 million ATM transactions, a 6.6% increase from the previous year, with transaction values rising 64.6% to ₦26.3 trillion ($19.4 billion).
Conversely, PoS transaction volumes dropped 19.9% year-on-year to 2.92 billion, with a 16.4% decline in transaction values to ₦59.3 trillion ($43.7 billion). This shift could reshape Nigeria's cash-access network, as ATMs regain ground lost to PoS agents. PoS agents have long filled the gaps left by scarce and unreliable ATMs, becoming the primary method for millions to access cash.
However, as ATM usage increases and PoS volumes decline, banks are reasserting their role. Although Nigeria had 22,600 ATMs in 2021, the number of active ATMs fell to 16,714 by mid-2024 due to underinvestment, out-of-service machines, and network problems. As ATM availability dwindled, PoS terminals, predominantly operated by fintech companies like Moniepoint and OPay, stepped in to fill the gap.
By March 2025, Nigeria had 8.36 million registered PoS terminals, with 5.90 million active or deployed.
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