Have you conducted any banking transactions lately through any electronic payment channels? I bet you have.

Millions of Nigerians like you have done the same amassing a whopping 19.3 trillion-naira worth of transaction, between July and September.

According to the National Bureau of Statistics, NBS these figures were a cumulative effect of 213.69 million transactions.

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The NBS stated this in a report on “Selected Banking Sector Data: Sectorial Breakdown of Credit, e-Payment Channels, Deposits and Domestic Credit Breakdown and Staff Strength’’ posted on the bureau’s website.

NBS stated that the Nigeria Inter-Bank Settlement System Instant Payment, NIP transactions dominated the volume of transactions recorded in the quarter.

It stated that 97.53 volumes of NIP transactions valued at 13.96 billion naira were recorded in the quarter under review.

In terms of money loaned to private businesses within the period under review, the report stated that a total of 15.83 trillion-naira worth of credit was allocated by the banks in the quarter.

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But it was the oil and gas and manufacturing sector that got the lion’s share of credit with allocation of 3.54 trillion naira and 2.27 trillion naira respectively.

The report also indicated that banks are hiring more people as the number of bank staff increased from 75,607 in the second quarter to 82,531 in the third quarter.

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