Nigeria’s Banking sector records N32.90trn transactions in Q2 – NBS

Aug 21, 2018

The National Bureau of Statistics (NBS) says a total of 509,668,433 transactions valued at N32.90 trillion was recorded in Nigeria’s banking sector during the second quarter.

The NBS stated this in its “Selected Banking Sector Data: Sectorial Breakdown of Credit, ePayment Channels and Staff Strength (Q2 2018)’’report released in Abuja.

 

According to the report, Automated Teller Machine (ATM) transactions dominated the volume of transactions recorded.

It said 217,417,961 volume of ATM transactions valued at N1.603 billion was recorded in the period under reveal.

“In terms of credit to private sector, the total value of credit allocated by the banks stood at N15.34 trillion as at the second quarter.

“Oil and Gas and Manufacturing sectors got credit allocation of N3.45 trillion and N2.02 trillion respectively to record the highest credit allocation as at the period under review.

“As at the second quarter, the total number of banks staff increased by 13.67per cent, from 89,608 in first quarter to 101,861,”  the report stated.

 

Source: The Ripples

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