Economy
ATM tops electronic payment channels in fourth quarter 2017—NBS
A total volume of 461,980,541 transactions valued at N29.44 trillion were recorded in fourth quarter of 2017 as data on Electronic Payment Channels in the Nigeria Banking Sector revealed. Automated Teller Machine (ATM) transactions dominated the volume of transactions recorded. 239,692,229 volume of ATM transactions valued at N1,833 billion were recorded in Q4 2017.
In terms of credit to private sector, a total of N15.74 trillion worth of credit was allocated by the banks in Q4 2017. Oil & Gas and Manufacturing sectors got credit allocation of N3.58 trillion and N2.17 trillion to record the highest credit allocation in the period under review. As at Q4, 2017, the total number of banks staffs increased by 9.19 per cent from 82,840 in Q3 2017 to 90,453.
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