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Commercial banks recorded a total of N36.34 trillion in automated teller machine withdrawals between January and June 2025, representing a sharp 196.01 percent increase from the N12.21 trillion logged in the same period of 2024, according to data released by the Central Bank of Nigeria.
Transaction volumes mirrored the surge, rising by 72.98 percent to 858.8 million withdrawals in the first half of 2025, compared with 496.47 million a year earlier. Data from the CBN’s quarterly statistical bulletin show that the value of ATM withdrawals nearly tripled year on year, even after new transaction charges took effect in February 2025. Analysis of the figures indicates that ATM usage peaked strongly in 2025. In the first quarter, the CBN said withdrawals reached N15.97 trillion, up from N5.46 trillion in the corresponding period of 2024. This reflects an increase of N10.51 trillion, or 192.4 percent, while transaction volumes jumped by 95.3 percent from 210.66 million to 411.42 million withdrawals. The upward momentum continued into the second quarter, with withdrawals rising to N20.36 trillion between April and June 2025, more than three times the N6.75 trillion recorded in the same period of 2024. The N13.61 trillion increase translates to growth of about 201.6 percent, while volumes climbed by 56.53 percent to 447.38 million transactions.
Monthly data showed a steady rise throughout the six-month period. In January 2025, the CBN said ATM withdrawals stood at N4.81 trillion, compared with N2.15 trillion in January 2024, as transaction volumes more than doubled from 69.62 million to 147.24 million.
February saw withdrawals increase to N5.4 trillion from N1.72 trillion a year earlier, with volumes rising to 134.59 million.
March followed the trend, recording N5.76 trillion in withdrawals, sharply higher than the N1.6 trillion posted in March 2024, alongside 129.59 million transactions. In April, withdrawals rose to N6.38 trillion from N1.81 trillion in the corresponding month of the previous year. May recorded the highest monthly value at N7.43 trillion, up from N2.49 trillion in May 2024. Although June eased slightly to N6.55 trillion, it still exceeded the N2.45 trillion recorded a year earlier.
The CBN report also showed that point-of-sale transactions continued to outpace ATM usage. PoS transaction values surged from N85.91 trillion in the first half of 2024 to N147.20 trillion in the first half of 2025, while volumes increased from 6.4 billion to 7.72 billion transactions.
This growth came despite higher charges imposed by PoS operators nationwide, with withdrawal fees rising from N100 to between N150 and N200 for every N5,000 transaction, underscoring Nigerians’ sustained reliance on electronic payment channels.
