After years of losing ground to Point-of-Sale (PoS) agents, Automated Teller Machines (ATMs) are making a comeback as transaction volumes rise while PoS volumes decline.
In the first quarter of 2026, Nigerians made 438.6 million ATM transactions, up 6.6% from the previous year, according to data released on Friday by the Central Bank of Nigeria (CBN). Transaction value grew 64.6% year-on-year to ₦26.3 trillion ($19.4 billion).
PoS transaction volumes fell 19.9% year-on-year to 2.92 billion in Q1 2026, while transaction value fell 16.4% to ₦59.3 trillion ($43.7 billion).
These changes could redraw Nigeria’s cash-access network. PoS agents spent years filling the gaps left by scarce and unreliable ATMs, becoming the preferred way for millions of Nigerians to get cash. But as ATM transactions rise and PoS volumes decline, banks are beginning to reclaim a role agents had steadily taken from them.
Originally published by TechCabal.