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ATM Transactions’ Value Hits N39.15trn In Q4, 2018

The National Bureau of Statistics (NBS) on Wednesday reported that transactions through the Automated Teller Machines (ATMs) by selected banks’ customers nationwide stood at N39.15 trillion in the fourth quarter of 2018.

The bureau disclosed this in its ‘Selected Banking Sector Data for the Fourth Quarter, 2018’, published on its website.

According to the official statistics producing and reporting agency,  the N39.15 trillion was recorded in 616,528,697 transactions as data on “Electronic Payment Channels in the Nigeria Banking Sector” during the quarter under review.

This is even as it stated  that NIBSS Instant Payments (NIP) transactions dominated the volume of transactions recorded in the quarter under review with 228, 209, 423 NIP transactions valued at N23.57 trillion.

Similarly, the NBS reported that credit allocated to the organized private sector during the period by the banks the totaled N15.13 trillion with the Oil and Gas and Manufacturing sectors accounting for N3.55 trillion and N2.23 trillion credit during the quarter.

In addition, the report also indicated that the number of staff in the banking sector increased by 1.80 per cent quarter-on-quarter, from 102,821 in Q3, 2018 to 104,669 in the succeeding quarter of the year (Q4).


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