ATMs Record Transactions Worth N1.56bn in First Quarter –NBS

lendingA woman takes Nigerian Naira from a bank's automated teller machine (ATM) in Ikeja district in the commercial capital Lagos November 12, 2014. REUTERS/Akintunde Akinleye
  • ATMs Record Transactions Worth N1.56bn in First Quarter –NBS

The National Bureau of Statistics has revealed that transactions from Automated Teller Machines of selected banks across the country reached N1.568 billion in the first quarter of 2018.

The NBS stated this in its Selected Banking Sector Data for First quarter, 2018, posted on it’s website.

The bureau stated that a total of 457,226,406 transactions valued at N32.48 trillion were recorded in the first quarter on Electronic Payment Channels in the Nigeria Banking Sector.

It, however, stated that ATM transactions dominated the volume of businesses recorded by the banking sector which was 212,370,853 transactions.

In terms of credit to private sector, the report stated that a total of N15.60 trillion credit was allocated by the banks in the quarter.

It stated that the Oil and Gas and Manufacturing sectors got credit allocation of N3.42 trillion and N2.07 trillion to record the highest credit allocation within the period under review.

The report also stated that the number of banks staff decreased by -0.93 per cent from 90,453 in the fourth quarter of 2017 to 89,608 in the review period.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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