The total value of transactions by cheques between January and December 2019 declined by N550 billion from N5.03 trillion to N4.48 trillion.
The figures are contained in the electronic payment report obtained from the Central Bank of Nigeria(CBN).
In terms of the volume of transactions by cheques, the figure also dropped from 9,019,278 recorded in 2018, to 7,275,237 in 2019.
The report also said the total value of electronic transactions carried out through various platforms rose from N17 trillion to N150.77 trillion in 2019.
The N17 trillion represents an increase of 13 percent over the N133.63 trillion recorded in the 2018 financial period.
The report put the volume of transactions in 2019 at 2.95 billion, noting that this is higher than the 2.073 billion recorded in 2018.
In terms of transactions through Point of Sale terminals, the report put the transactions across the country last year at N3.205 trillion. This, it stated was recorded through 438,614,182 transactions.