Banking Sector Records 910.18m Volume of Transaction in 2016 on Electronic Payment Channels - NBS


Friday, January 27, 2016/ 11.05 PM / NBS

Executive Summary

A total volume of 910,186,115 transactions valued at N65.16 trn were recorded in 2016 as data on Electronic Payment Channels in the Nigeria Banking Sector revealed. ATM transactions dominated the volume of transactions recorded. 590, 238, 934 volume of ATM transactions valued at N4.98 trn were recorded in 2016.

In terms of credit to private sector, a total of N59.56 trn worth of credit was allocated by banks in 2016. Services and Industry got credit allocation of N23.07trn and N22.85 trn to record the highest credit allocation in the year under review.

As at Q4, 2016, the total number of banks’ staffs dropped from 82,540 in Q3 2016 to 76,812 in Q4 2016

Click Here to Download Selected Banking Sector Q4 2016
(PDF) Report

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