Moniepoint study reveals cash is fading as bars, clubs embrace digital transactions.
A recent study by Nigerian fintech Moniepoint shows digital payments are now driving Nigeria’s nightlife economy, with bank transfers and card payments topping transactions at bars, clubs, and informal community venues. Cash is on the decline, largely due to security concerns.
The report, covering over 27,000 nightlife spots, found peak transaction times between 8 p.m. and midnight, with many bars increasing staff by 30–50% on busy nights. Nationwide, around 54,000 people work nightly in nightlife-related jobs. Lagos leads in the number of digital-enabled outlets, followed by Abuja, Rivers, Delta, and Edo.
Tosin Eniolorunda, Moniepoint CEO, described community nightlife operators as a key part of Nigeria’s economic fabric, highlighting the role of fintech in supporting business growth.
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