Banks Record N1.56 billion in Q1 2018 from ATM Transactions – NBS Report

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ATM Cards

The National Bureau of Statistics (NBS) says Automated Teller Machines (ATMs) from selected banks across the country, recorded transactions valued at N1.568 billion in the first quarter of 2018.

The NBS stated this in its Selected Banking Sector Data for the first quarter of 2018, posted on its website.

The bureau stated that a total of 457,226,406 transactions valued at N32.48 trillion 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 credit to private sector, the report stated that a total of N15.60 trillion credit was allocated by the banks in the quarter.

It stated that the oil and gas and manufacturing sectors got credit allocation of N3.42 trillion and N2.07 trillion to record the highest credit allocation within the period under review.

The report also stated that the number of banks staff decreased by -0.93 per cent from 90,453 in the fourth quarter of 2017 to 89,608 in the review period.

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