Nigeria’s Deposit Money Banks (DMBs) have reported a combined revenue of ₦224.69 billion generated from electronic banking services and ATM/card-related charges in the first quarter of 2026, reflecting continued growth in digital financial transactions across the country.
The figure covers income earned from a range of services, including mobile banking transactions, USSD services, internet banking, Automated Teller Machine (ATM) withdrawals, debit card maintenance charges, and other electronic payment channels.
The performance underscores the increasing reliance of Nigerians on digital banking platforms for everyday financial activities. With the continued expansion of mobile technology and improved access to financial services, banks have recorded higher transaction volumes across electronic channels.
Despite the relatively small charges applied per transaction, the cumulative effect of millions of daily digital transactions has resulted in significant revenue for the banking sector.
The ₦224.69 billion earned in Q1 2026 was largely driven by:
Mobile banking and internet banking transfers
USSD-based financial transactions
ATM withdrawal and interbank usage fees
Debit card maintenance and service charges
SMS alert and notification fees
Point-of-Sale (PoS) transaction charges
These fees continue to serve as a major component of non-interest income for commercial banks operating in Nigeria.
The Central Bank of Nigeria (CBN) has continued to monitor electronic banking charges in a bid to balance financial inclusion with consumer protection. Recent policy reviews have aimed at ensuring fair pricing while maintaining the sustainability of financial institutions.
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