Nigeria’s digital bank, Kuda Technologies, has disclosed that it processed N14.3 trillion worth of transactions across more than 300 million dealings in the first quarter of 2025, even as previous quarters figures were not made available.

However, the bank indicated that there has been a steady growth in transactions on its app.

Speaking at a media parley in Lagos Kuda’s CEO, Babs Ogundeyi, broke down the numbers as it relates to its retail and business banking platforms.

According to him, N8.5 trillion was generated from retail banking users, while business clients contributed N5.8 trillion.

Transfers, which remain largely free for users, continue to dominate activity on the platform, with business banking alone accounting for N1.5 trillion in transfers. Notably, the bank reported more paid transfers than free ones, signaling that Nigerian users are increasingly willing to pay for convenience when sending money.

“For free transfers, we moved about almost a trillion Naira in transfers. And then on non-free transfers, we did over 3 trillion Naira. So even though we have free time, we actually have a lot more non-free time,” the Kuda CEO said.