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Nigeria
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Top e-commerce industries
23.0%
Electronics
24.1%
Hobby & Leisure
19.0%
Fashion
Furniture & Homeware
Care Products
DIY
Grocery
Abuja
Capital
236.7M
Population
+1
Time Zone (GMT)
NGN (₦)
Currency
Nigerian Naira
$154.5B
Transactions
value in 2028
22.7%
CAGR
of Digital Payments
during 2024-2028
during 2024-2028
Popularity of e-commerce payment methods
Extend your reach
Bank transfers are a key payment method in Nigeria's e-commerce landscape, with widespread adoption facilitated by leading banks like Guaranty Trust Bank (GTBank), Zenith Bank, Access Bank, First Bank of Nigeria, and United Bank for Africa (UBA).
Method
Bank transfer (NG)
Bank transfer (NG)
LPM Market Share
22%
Payments
Yes
Refunds
Yes - full refunds only
Type
Bank Transfer
Local Card Scheme
Users
48M
Disbursements
Yes
Yes
Chargebacks
$25.00
$25.00
