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Saturday, December 12, 2020 04:50
PM / by NBS/ Header Image Credit: NBS
A total volume of
2,781,526,188 transactions valued at N319.99trn was recorded in Q3 2020 as data
on Electronic Payment Channels in the Nigeria Banking Sector revealed.
RTGS transfers dominated
the volume of transactions recorded. 1,799,199 volume of Online Transfer transactions
valued at N116.06trn were
recorded in Q3 2020.
In terms of credit to the
private sector, the total value of credit allocated by the bank stood at N19.87trn as of Q3 2020. Oil &
Gas and Manufacturing sectors got credit allocation of N3.74trn and N3.03trn to record
the highest credit allocation as at the period under review.
As of Q3 2020, the total
number of Deposit Money Banks' staff increased by 1.47% QoQ
from 94,498 in Q2 2020 to 95,888.
Geographical Distribution
of Credit by State stood at N19.46trn compared to N18.90trn in Q2 2020
and N16.62trn in Q3 2019. This
represents 2.96% increase
in credit Quarter
on Quarter and 17.11% Year on Year.
Lagos State recorded the highest
credit by geographical distribution with N15.13trn, accounting for 77.74% of
the total credit by geographical distribution while Yobe State recorded the
least with N19.38bn, accounting for 0.09% in Q3 2020
Click Here to Download Q3 2020 Selected Banking Sector Data PDF Report
Latest 2020 NBS Reports
Q4 2020
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Q2 2020
Q1 2020