Banks recorded N40.48tn e-transactions in Q2 – NBS

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A total volume of 711,299,990 transactions valued at N40.48trn was recorded in Q2 2019 as data on Electronic Payment Channels in the Nigeria Banking Sector revealed.

NIBSS Instant Payments (NIP) transactions dominated the volume of transactions recorded. 271,344,549 volume of NIP transactions valued at N25.18trn were recorded in Q2 2019.

In terms of credit to the private sector, the total value of credit allocated by the bank stood at N15.13trn as at Q2 2019. Oil & Gas and Manufacturing sectors got credit allocation of N3.33trn and N2.32trn to record the highest credit allocation as at the period under review.

As at Q2 2019, the total number of banks staff decreased by 0.62% QoQ from 105,017 in Q1 2019 to 104,364.

Read:  Banks gave manufacturing, other sectors N15.8tn loans in Q3 2017

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