Business
Banks post N19.3trillion transactions in Q3 2017
The Nigerian banking sector in the third quarter of 2017 recorded a total volume of 213,693,964 transactions valued at N19.33 trillion, the National Bureau of Statistics, NBS, has revealed.
According to the statistics bureau, the figures were obtained from data on Electronic Payment Channels in the Nigeria Banking Sector.
The NBS, in its report released on Wednesday and obtained by Business Post, disclosed that the NIBSS Instant Payment (NIP) transactions dominated the volume of transactions recorded during the period under review.
ALSO SEE: Prices of food items drop at major markets
It said 97,530,856 volume of NIP transactions valued at N13,963 billion were recorded in Q3 2017, while in terms of credit to private sector, a total of N15.83 trillion worth of credit was allocated by the banks in Q3 2017.
Oil & 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.
As at Q3 of 2017, the total number of banks staffs increased by 9.16 percent from 75,607 in the Q2 of 2017 to 82,531.
-
News5 days agoWidow of late investigative broadcaster Kola Olawuyi dies
-
Crime5 days agoOutrage as NYSC doctor allegedly dies after delay in approving sick leave
-
Latest4 days agoOne killed as ethnic clash erupts in Ibadan following reported overnight stabbing (video)
-
Latest5 days agoLagos arrests 396 beggars in fresh crackdown on street begging (Video)
-
Energy6 days agoGas flaring takes toll on children, residents in Rivers oil-producing communities
-
Aviation5 days agoNIS issues updated guidelines for contactless passport renewal for Nigerians abroad
-
Aviation6 days agoCould you prove that bag is yours? The precautions that could protect you from a travel nightmare
-
Latest6 days agoJonathan rejects political bribery allegation ahead of 2027 elections