ATM Withdrawals Jump 196% to ₦36.3 Trillion in H1 2025 — CBN Data Shows Surge in Cash Demand
Automated teller machine (ATM) withdrawals in Nigeria surged sharply in the first half of 2025, reaching ₦36.34 trillion, according to newly released data from the Central Bank of Nigeria (CBN). The figure represents a 196.01 percent increase compared with ₦12.21 trillion recorded during the same period in 2024, underscoring a dramatic rise in cash usage across the banking system.
Transaction volumes followed a similar upward trend, climbing by 72.98 percent to 858.8 million withdrawals between January and June 2025, up from 496.47 million a year earlier. Data from the CBN’s quarterly statistical bulletin show that ATM usage expanded significantly even after revised transaction charges took effect in February 2025, suggesting that demand for cash remained resilient despite higher costs.
Quarterly analysis revealed that withdrawals nearly tripled year-on-year in the first quarter of 2025, hitting ₦15.97 trillion compared with ₦5.46 trillion in the same period of 2024. This increase of ₦10.51 trillion, or 192.4 percent, was accompanied by a 95.3 percent jump in transaction volumes to 411.42 million. The momentum continued in the second quarter, with ATM withdrawals rising to ₦20.36 trillion, more than three times the ₦6.75 trillion recorded between April and June 2024.
Monthly figures also showed a consistent rise throughout the six-month period. Withdrawals climbed from ₦4.81 trillion in January to a peak of ₦7.43 trillion in May, before easing slightly to ₦6.55 trillion in June. Each month in 2025 significantly outperformed the corresponding period in 2024, reflecting sustained consumer reliance on ATM cash withdrawals amid economic adjustments.
Despite the strong growth in ATM activity, point-of-sale (PoS) transactions continued to dominate electronic payments. PoS transaction values rose from ₦85.91 trillion in the first half of 2024 to ₦147.20 trillion in the same period of 2025, while volumes increased to 7.72 billion transactions. This expansion came even as PoS withdrawal fees increased nationwide, highlighting Nigerians’ continued dependence on digital and cash-based payment channels alike.