ATM records transactions worth N39.15trn in Q4, 2018

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Reports from the National Bureau of Statistics show Automated Teller Machine from banks across the country recorded transactions worth N39.15 trillion in the fourth quarter of 2018.

“A total volume of 616,528,697 transactions valued at N39.15trn was recorded in Q4 2018 as data on Electronic Payment Channels in the Nigeria Banking Sector revealed”.

NIBSS Instant Payments (NIP) transactions dominated the volume of transactions recorded. 228,209,423 volume of NIP transactions valued at N23.57trn were recorded in Q4 2018.

In terms of credit to the private sector, the total value of credit allocated by the bank stood at N15.13trn as at Q4 2018. The NBS report also showed that the data showed that the Oil & Gas and Manufacturing sectors got credit allocation of N3.55trn and N2.23trn to record the highest credit allocation as at the period under review.

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As at Q4, 2018, the total number of banks’ staffs increased by 1.80% QoQ from 102,821in Q3 2018 to 104,669.

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