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 Politics Nigeria
Politics Nigeria

PoliticsNGR Staff

Share
Published by
Politics Nigeria
Tags: banksbusinessnbs

Recent Posts

Niger spends N1.8bn on tertiary institutions in 3 years — Commissioner

The Niger Government says it has expended N1.8 billion on state-owned tertiary institutions in the past three years. The Commissioner…

58 mins ago

Edo Govt. partners British Council on judicial reform

Gov. Godwin Obaseki of Edo says the state government is partnering with British Council on implementation of judiciary reforms. The…

59 mins ago

FG to auction N115 billion bonds on Nov. 21

The Debt Management Office (DMO) says the  Federal Government is to auction by subscription N115 billion worth of bonds on…

1 hour ago

FG committed to ending Boko Haram insurgency – Buhari

The Federal Government on Tuesday reaffirmed its commitment to ending Boko Haram insurgency, saying it would ensure that the menace…

1 hour ago

Israel launches more air strikes in Gaza as Palestinians intensify rocket attack

Israel launched more air strikes on Gaza on Tuesday as Palestinians kept up rocket fire on Israeli territory, in the…

1 hour ago

Austrian court orders release of suspected Russian spy pending trial

A court on Tuesday rejected prosecutors’ request that an Austrian army colonel, suspected of spying for Russia for 26 years,…

1 hour ago