Smallholder farmers in Northern Nigeria have reported improved sales and more efficient operations as mobile transfers and point-of-sale (POS) machines replace cash in rural markets.
A recent case study by Moniepoint on Nigeria’s food chain highlights how digital payments transform farming communities, such as Zabarmari, trade hubs, including Maiduguri’s Monday Market.
With fewer people relying on physical cash, farmers are now reaching broader markets and avoiding the risks of handling large sums.
According to the report, more than 45% of customers in Borno’s markets now prefer digital payment methods. Of this number, 28.6% use bank transfers and 17% pay via POS terminals.
Farmers like Isiaka and Abacha from Zabarmari used to collect physical cash after selling tomatoes and peppers.
Now, they receive payments directly into their accounts using Moniepoint’s platform. This shift has improved their cash flow, allowing them to reinvest more quickly in their farms.
“Customers prefer Moniepoint for large transfers because it’s instant and reliable,” Isiaka said.
With daily harvests of 40 to 50 buckets, the farmers now enjoy a more stable income, fewer delays and security worries.
Rice farmer Isah Saidu shared a similar experience. After 25 years in the business, he no longer escorts buyers to the bank. He now receives payments remotely and gets instant alerts.
“Before, I would take the customer to the bank because I didn’t want to carry too much money. Now I get alerts instantly,” he said.
Digital payments are also connecting farmers to new customers beyond the Northeast. While most buyers still come from Maiduguri (62.5%), over 11% are now from cities such as Lagos, Port Harcourt, Asaba, and neighbouring Cameroon.
Traders are adapting quickly. A grain seller at Monday Market said, “We lose customers when we don’t have a POS machine. People expect it now.”
Agro-traders and input suppliers are also making the switch. Mohammed, who runs a poultry and feed store, moves over ₦100,000 worth of goods daily through mobile transfers.
“Imagine carrying that kind of cash around. Anything can happen. Now I just transfer. No delay. No stories,” he said.
Haruna, an agrochemical dealer, now processes customer orders via WhatsApp voice notes and only fulfils them after confirming payment.
This method enables him to move quickly during peak seasons and restock outside the state.
Tosin Eniolorunda, CEO of Moniepoint Inc., said, “Moniepoint believes financial inclusion is not just about access. It’s about dignity, about enabling people to transact on their terms. What’s happening in the North East today is significant.”
“Farmers and traders who were once excluded from formal systems are now part of a national digital network, able to access capital, manage risk, and grow. This shift isn’t just tech-enabled, but it’s structurally impactful work. It’s about creating an economy where everyone can participate, no matter their location or background,” he said.
Even in remote places without bank branches, access is improving.
In Zabarmari, farmers now use Moniepoint cards to make safe withdrawals and access their accounts.
These cards, which do not contain personal information, reduce the risk of identity theft and are easier to use in areas with limited digital literacy.
To build trust and solve local issues, Moniepoint assigns business relationship managers who speak Hausa or Kanuri. “If there’s a problem with my terminal, she’ll come here,” a trader said.
For many, mobile alerts have become crucial. Mohammed trades grains across Nigeria and relies on payment notifications before shipping out goods.
“I need to know when the money drops,” he said. Without that confirmation, deals break down and supplies are delayed.
While cash is still common for purchasing farming inputs, digital payments quickly become essential for sales, particularly for bulk transactions.
According to the report, POS machines also give small businesses more credibility in the market.
Digital tools are helping farmers reduce theft, streamline logistics, and connect with larger supply chains.
From rice fields to livestock yards, rural farmers use these technologies to expand their businesses and safeguard their incomes.
“What used to be an informal, cash-heavy economy is now becoming more structured, connected, and secure,” the report said.
