KAYODE TOKEDE
The National Bureau of Statistics (NBS) has revealed that Electronic Payment Channels transacted N29.44 trillion worth of transaction in fourth quarter of 2017.
The bureau also disclosed that a total volume of 461,980,541 transactions on Electronic Payment Channels in the Nigeria Banking Sector.
The Selected Banking Sector Data: Sectorial Breakdown of Credit, ePayment Channels that was released on Monday by the NBS revealed that, “Automated Teller Machine (ATM) transactions dominated the volume of transactions recorded. 239,692,229 volume of ATM transactions valued at N1,833 billon 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 N3.58trillion and N2.17 trillion to record the highest credit allocation in the period under review.”
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