Banking Sector Reports 213.69 Million Transactions Valued at N19.33 Trillion in Q3 2017

Must Read

Jumia in trouble over Fraud in Affiliate Scheme, JForce

E-commerce company, Jumia is currently enmeshed in a case of internal fraud involving its affiliate marketing programme, otherwise known...

UBA Board Proposes Interim Dividend, Okays H1 2019 Results

The Board of United Bank for Africa Plc, at its meeting of Thursday, August 22, 2019, considered and approved...

Innoson motors price list: cheap cars in Nigeria

Millions of Nigerians cannot allow buying a new car because it is too expensive. However, the biggest Nigerian car...
- Advertisement -
- Advertisement -

The National Bureau of Statistics on Wednesday, Dec 13, 2017, released the Selected Banking Sector Data: Sectorial Breakdown of Credit,
ePayment Channels, Deposits & Domestic Credit Breakdown and Staff Strength report for the third quarter of this year, Brandspur Nigeria reports.

A total volume of 213,693,964 transactions valued at N19.33 trn was recorded in Q3 2017 as data on Electronic Payment Channels in the Nigeria Banking Sector revealed.

In the report signed by the Statistician General of the Federation and Chief Executive, NBS, Dr. Yemi Kale and made available to BrandSpur Nigeria, the bureau said NIBSS Instant Payment (NIP) transactions dominated the volume of transactions recorded. 97,530,856 volume of NIP transactions valued at N13,963 bln were recorded in Q3 2017.

Read:  University of Ilorin to Build 4 New Lecture Theatres

In terms of credit to private sector, a total of N15.83 trn worth of credit was allocated by the banks in Q3 2017. Oil & Gas and Manufacturing sectors got credit allocation of N3.54trn and N2.27 trn to record the highest credit allocation in the period under review.

As at Q3, 2017, the total number of banks staffs increased by 9.16% from 75,607 in Q2 2017 to 82,531.

Read:  Kaffy signed on as Payporte Health & Fitness Ambassador

Click here to download the full report…



- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.



Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Facebook Celebrates ‘Icons Of Change’ From Across Sub-Saharan Africa With A Youth Gathering In Accra, Ghana

Facebook is bringing together 40 young leaders, developers, entrepreneurs and change-makers from across Sub-Saharan Africa, to a two-day event...

Devastation Is The Major Threat To Telecom Growth In Nigeria – NCC

The Nigerian Communications Commission (NCC), has known the destruction of telecom infrastructure as the biggest intimidation to the growth of the telecommunication industry in...

Quickteller Chooose Winners To Make An Appearance At Interswitch One Africa Music Fest in London

Quickteller, a leading digital consumer payments platform in Nigeria, is set to take another set of winners on an all-expense-paid trip to the London...

President Buhari Endorse Licensing Of Online TV & Radio Stations

President Muhammadu Buhari has signed wide-ranging improvements in Nigeria’s broadcasting industry, including the commissioning of online radio and television stations.Lai Mohammed, Nigeria’s Minister of...


Residents of Magodo Estate have acclaimed Ikeja Electric Plc (IE) for rendering constant electricity to customers within the Estate following the signing of the...

More Articles Like This