By Dipo Olowookere
Transactions worth N32.48 trillion were recorded by the banking sector in Nigeria in the first quarter of 2018.
This information was revealed by the National Bureau of Statistics (NBS) on Saturday in its report titled ‘Selected Banking Sector Data.’
The stats office said during the period under review, a total volume of 457,226,406 transactions were achieved by the banking sector.
According to the NBS, data harvested from the Electronic Payment Channels in the Nigeria Banking Sector revealed that Automated Teller Machine (ATM) transactions dominated the volume of transactions recorded with 212,370,853 volume of ATM transactions valued at N1,568 billion were recorded in Q1 2018.
It explained that in terms of credit to private sector, the total value of credit allocated by the banking sector stood at N15.60 trillion as at Q1 2018.
Oil & Gas and Manufacturing sectors got credit allocation of N3.42 trillion and N2.07 trillion to record the highest credit allocation as at the period under review.
The report said as at Q1 2018, the total number of banks’ staffs decreased by 0.93 percent from 90,453 in Q4 2017 to 89,608.
more recommended stories
Heritage Bank to Begin Account Opening for SPW Participants
By Adedapo Adesanya Heritage Bank Plc.
TAJBank Reassures Customers Excellent Service Delivery
By Dipo Olowookere The management of.
First Bank’s Adeduntan Joins Bretton Woods Committee
By Modupe Gbadeyanka The membership of.
Fitch Reaffirms Highest Rating on Stanbic IBTC
By Modupe Gbadeyanka The National Long-Term’.
Applause as Ecobank Rewards Xpress Point Agents
By Modupe Gbadeyanka For rewarding its.
Ex-JAMB Staff Allegedly Dupes Bank N10m
By Modupe Gbadeyanka A former employee.
CBN, CAC Approve Omoluabi Mortgage Bank’s Name Change
By Dipo Olowookere One of the.
GTBank Increases International Monthly Spending Limit to $200
By Adedapo Adesanya Guaranty Trust Bank.