Banking Sector Reports 304.31 Million Transaction Valued at N22.01 Trillion in Q1 2017 – NBS

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May 26, 2017/NBS

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A total volume of 304,307,931 transactions valued at N22.01 trn were recorded in Q1 2017 as data on Electronic Payment Channels in the Nigeria Banking Sector revealed. ATM transactions dominated the volume of transactions recorded. 179, 000, 000 volume of ATM transactions valued at N1.50 trn were recorded in Q1 2017.

In terms of credit to private sector, a total of N16.00 trn worth of credit was allocated by the banks in Q1 2017. Services and Industry got credit allocation of N9.25trn and N6.19 trn to record the highest credit allocation in the period under review.

As at Q1, 2017, the total number of banks’ staffs increased from 76,812 in Q4 2016 to 77,690 in Q1 2017.