ATM Transactions Hit 1.5 Billion Naira In Q1
How many times have you used the the Automated Teller Machine, ATM this year instead of heading into the banking hall? Perhaps you did several times.
That has been the case for millions of Nigerians who now rely on the cash machine as a go-to banking point.
Between January and March 2018, transactions from ATMs of selected banks across the country reached 1.568 billion naira.
The NBS stated this in its Selected Banking Sector Data for First quarter, 2018, posted on it’s website.
The bureau stated that a total of 457,226,406 transactions valued at 32.48 trillion naira were recorded in the first quarter on Electronic Payment Channels in the Nigeria Banking Sector.
It, however, stated that ATM transactions dominated the volume of businesses recorded by the banking sector which was 212,370,853 transactions.
In terms of bank lending to private sector, the report stated that a total of 15.60 trillion-naira credit was allocated by the banks in the quarter under review.
But the lion’s share of the banking credit went to the Oil and Gas and Manufacturing sectors which got credit allocation of 3.42 trillion naira and 2.07 trillion naira respectively, according to the report.
These sectors therefore recorded the highest credit allocation within the period under review.
The report also stated that the number of bank workers reduced -0.93% from 90,453 in the last quarter of 2017 to 89,608 in the review period.
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