The National Bureau of Statistics (NBS) says Automated Teller Machines (ATMs) from selected banks across the country recorded transactions valued at N1,593 billion in the third quarter.

The NBS stated this in its Selected Banking Sector Data for the third quarter, 2018, made available to Brand Spur Nigeria.

The bureau stated that a total volume of 5,294,871,285 transactions valued at N340.15trn was recorded in Q3 2018 as data on Electronic Payment Channels in the Nigeria Banking Sector revealed.

It, however, stated that Automated Teller Machine (ATM) transactions dominated the volume of transactions recorded. 220,270,371 volume of ATM transactions valued at N1,593bln were recorded in Q3 2018.

On the web, a total of 13.9 million transactions worth N69.072 billion were done, with money payments accounting for 23.9 million transactions worth N496.372 billion.

In terms of credit to the private sector, the total value of credit allocated by the bank stood at N15.59trn as at Q3 2018. Oil & Gas and Manufacturing sectors got credit allocation of N3.59trn and N2.15trn to record the highest credit allocation as at the period under review.

The report also stated that as at Q3, 2018, the total number of banks staffs increased by 0.95% QoQ from 101,861 in Q2 2018 to 102,821.

On the issue of staffing, the NBS said as at Q3, 2018, the total number of banks’ staffs increased by 0.95 per cent quarter-on-quarter from 101,861 in Q2 2018 to 102,821.


SOURCE: https://brandspurng.com/2018/12/02/atms-record-transactions-worth-n1-59tillion-in-q3-nbs/