Despite a ₦647 trillion payment boom, Nigeria’s informal sector stays cash-first
Despite years of fintech expansion, internet banking growth, and mobile banking, Nigeria’s informal economy still operates primarily on cash. Only one in four informal businesses reports that digital payments account for at least 10% of their total revenue, according to Moniepoint’s 2025 Informal Economy Report.
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Despite a ₦647 trillion payment boom, Nigeria’s informal sector stays cash-first
Despite years of fintech expansion, internet banking growth, and mobile banking, Nigeria’s informal economy still operates primarily on cash. Only one in four informal businesses reports that digital payments account for at least 10% of their total revenue, according to Moniepoint’s 2025 Informal Economy Report.
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