POS PROFITS
Nigeria Interbank Settlement System (NIBSS) said that electronic payment through Point of Sale (PoS) terminals has risen by 191 percent to N241 billion in 2014. The company also reported 249 percent increase in its profit before tax, which rose to N2.82 billion for the year ended December 31st 2013. Chairman of NIBSS and Deputy Governor, Operations, Central Bank of Nigeria (CBN), Alhaji Suleiman Barau disclosed this at the 2014 annual general meeting of the company held in Lagos on Friday. Addressing shareholders of the company, Barau said, “The financial performance of our Company was greatly impacted by the impressive business activities recorded during the year. Gross Income grew by 32.33 percent to peak at N5.13 billion, up from the N3.88billion recorded in 2013. We closed the year with a Profit Before Taxation (PBT) of N2.82 billion representing a growth of 249.31% over prior year figure of N806.59million. “NIBSS has witnessed tremendous growth in electronic payment...