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Photos News: Power Minister visits Sokoto State to inspect infrastructures, pays homage to Governor Aliyu
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Daniel Amokachi appointment is a moral booster to the team – Lobi Star Defender Nnamdi Frank
Nnamdi Frank who plays for NPFL side Lobi Star football club said he is happy that the management put the right peg in the right hole in the appointment of Daniel Amokachi as the team coach.
The defender claims that the atmosphere in the team currently is in top gear to work with former Super Eagles ex players to reveal the team and return to winning ways.
Frank further said he is ready to give all his best to support the coach and team to get the Continental tickets this 2024/2025 NPFL season.
The team is currently preparing for their next away game against Niger tornadoes in Minna Township stadium on Sunday.
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Deployed PoS terminals across Nigeria hit 3.04m July 2024
New National Star recently reported that according to (NIBSS) the value of Point of Sale transactions in Nigeria between January and July 2024 decreased to N6.23 trillion.
This was a 7.4 percent decline compared to the N6.79 trillion recorded in the same period in 2023, reflecting changes in consumer behaviour and spending patterns. A breakdown of the NIBSS data showed that PoS transactions increased by 5.3 percent in January to N850.09 billion, up from N807.16 billion in the corresponding month of 2023.
However, February declined to N805.05 billion, down 8.9 percent from N883.4 billion in February 2023. March saw a sharp 16.5 percent drop, with transactions falling to N961.86 billion from N1.15 trillion in March of the previous year.
The data showed that the downward trend continued in April, with PoS transactions dropping by 22.3 percent to N811.78 billion, compared to N1.04 trillion in April 2023. However, May reversed the trend, with transactions increasing by 16.1 percent year-on-year to N868.6 billion.
It declined in June, with PoS transactions dipping 1.3 percent to N930.76bn, down from N943.38bn in June 2023. However, PoS transactions in the country picked up again in July, rising by 8.9 percent to N1 trillion, compared to N923.32 billion in July 2023.
Recall that e-payment transactions in the country jumped by 86.44 percent to N566.3 trillion in the first half of 2024 from N303.6 trillion in the same period last year.
The data showed that July saw the highest transaction value, totaling N89.5 trillion, compared to N47.39 trillion in July 2023.
- PoS transactions value in the country hit an all-time high of N1.15 trillion in March last year, when the PoS value hit an all-time high is attributable to the unusual cash scarcity during the period, which forced many Nigerians to embrace electronic transactions.
- Aside from the 2023 cash scarcity, the growth of PoS transactions in Nigeria is being driven by many factors, part of which include rapid adoption by merchants for receiving payments.
- PoS is also bridging the gap created by the shortage of Automated Teller Machines (ATMs) deployed by banks, as many Nigerians now withdraw through PoS agents.
- Meanwhile, the Central Bank of Nigeria (CBN), in a move aimed at strengthening the monitoring of electronic transactions across Nigeria recently issued a new directive to Payment Service Providers (PSPs), requiring them to comply with enhanced routing guidelines for PoS transactions.
- The directive, issued on September 11, 2024, follows CBN’s initiative to diversify the Payment Terminal Service Aggregator (PTSA) structure, which previously operated through a single aggregator.
- This came amid an ongoing debate on the propriety of the registration of PoS operators mandated by the Corporate Affairs Commission (CAC).
- While the September deadline issued by the Commission has lapsed, the CAC said it has commenced the process of taking drastic actions including shutting down Point of Sales (PoS) businesses that have failed to register their businesses.
- According to the Commission, PoS operators who had not registered might be engaging in “unwholesome activities.”
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Banking sector tops with $1.1bn as Nigeria’s capital importation hits $2.6bn
Nigeria’s capital importation soared to an impressive $2.6 billion in Q2 2024, marking a significant 152.81% increase from $1.03 billion in the same quarter last year.
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