Categories: Business and Banking

Transactions worth N19.33trn recorded by Banking sector in Q3 – NBS

The National Bureau of Statistics (NBS) says 213.69 million transactions valued at N19.33 trillion are recorded in the third quarter as data on Electronic Payment Channels in the  banking sector.

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.

The bureau stated that the Nigeria Inter-bank Settlement System (NIBSS) Instant Payment (NIP) transactions dominated the volume of transactions recorded in the quarter.

It stated that 97.53 volumes of NIP transactions valued at N13.96 billion were recorded in the quarter under review.

In terms of credit to private sector, the report stated that a total of N15.83 trillion worth of credit was allocated by the banks in the quarter.

It stated that Oil and Gas and Manufacturing sectors got credit allocation of N3.54 trillion and N2.27 trillion to record the highest credit allocation in the period under review.

The report also stated that the number of banks’ staff increased from 75, 607 in the second quarter to 82,531 in the third quarter.

Transactions worth N19.33trn recorded by Banking sector in Q3 – NBS was last modified: December 15th, 2017 by Dumebi Ifeanyi
Dumebi Ifeanyi

Dumebi Ifeanyi is a Writer and a Computer Science Graduate. He is Passionate about Nigeria and has great interests in Governance and Politics.

Share
Published by
Dumebi Ifeanyi
Tags: banksbusinessnbs

Recent Posts

  • Press Releases

Trouble looms as Saraki releases Details of 2018 National Assembly Budget

In line with its open NASS policy, the Chairman of the National Assembly and Senate President, Dr.Bukola Saraki has ensured…

2 weeks ago
  • Business and Banking

We need more private sector involvement in Education – Jim Ovia

The Founder/Chairman of Zenith Bank Plc, Mr. Jim Ovia, recently encouraged the Federal Government to license more private universities and…

2 weeks ago
  • News

BREAKING: Police arrests HIV-infected Reverend Father for defiling little boys

The Nigerian police force has arrested a Reverend Father for defiling minors in Lagos State, PoliticsNGR has learned. On 22…

4 weeks ago
  • Press Releases

Police stop APC Thugs from breaking into INEC office in Rivers

Sequel to plans by the Rotimi Amaechi’s faction of the All Progressives Congress (APC) to continue public protests as a…

4 weeks ago
  • News

‘Become Corruption Fighters’ – EFCC Boss, Magu tasks Nigerian youths

The Acting Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu, has described corruption as an 'evil' that…

4 weeks ago
  • News

Traders, Residents of Pen Cinema Urge Ambode To Complete Agege Flyover

Residents and traders in Agege area of Lagos state have urged the state government to complete the flyover being constructed…

4 weeks ago