N39.15trn Transactions Made On ATM In Q4 2018

By: 'Dotun Akintomide

Cat:

February 20, 2019

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The National Bureau of Statistics (NBS) said Automated Teller Machine (ATM) from selected banks across the country recorded transactions valued at N39.15 trillion in the fourth quarter of 2018.

The bureau stated this in its “Selected Banking Sector Data for Fourth Quarter, 2018”, posted on its website on Wednesday.

It said that the amount was derived from 616,528,697 transactions recorded as data on “Electronic Payment Channels in the Nigeria Banking Sector” during the period.

The bureau added that NIBSS Instant Payments (NIP) transactions dominated the volume of transactions recorded in the quarter.

According to the report, 228, 209, 423 NIP transactions valued at N23.57 trillion were recorded in the quarter under review.

In terms of credit to private sector by the Central Bank of Nigeria (CBN) during the period, the report said the total value of credit allocated by the bank was N15.13 trillion.

It said Oil and Gas and Manufacturing sectors got credit allocation of N3.55 trillion and N2.23 trillion to record the highest allocation in the quarter.

The report also stated that the number of staff in the banking sector increased by 1.80 per cent quarter-on-quarter, from 102,821 in the third quarter to 104,669 in the period.

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'Dotun Akintomide

'Dotun Akintomide's journalism works intersect business, environment, politics and developmental issues. Among a number of local and international publications, his work has appeared in the New York Times. He's a winner of the National Youth Service Corps (NYSC) Award. Currently, the Online Editor at The New Diplomat, Akintomide has produced reports that uniquely spoke to Nigeria's experience on Climate Change issues. When Akintomide is not writing, volunteering or working on a media project, you can find him seeing beautiful sites like the sandy beaches that bedecked the Lagos coastline.

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