Now Reading
NBS records N42.7tn of electronic Bank transaction in third quarter

NBS records N42.7tn of electronic Bank transaction in third quarter

Doris Ukaonu

A total of  800,201,498 volume of electronic bank transactions was carried out by Nigerians within the third quarter of the year.

The figure valued at  N42.76tn was revealed in a recent report by the National Bureau of Statistics on December 3rd.

The report also indicated that what constituted a larger portion of the figure was the Nigerian Interbank Settlement System Instant Payments transactions. 

Also recorded in the third quarter was about  298,988,572 volume of NIP transactions valued at N26.18tn

The oil and gas industry and the manufacturing sector hit N3.39trn and N2.57trn  respectively, making them the highest credit allocation for 2019.

For employees in the banking sector, the total number of banks staff decreased by 2.81 per cent from 104,364 in the second quarter to 101,435 workers.

The NBS also disclosed an N1.14tn or 50.89 per cent drop in the Non-Performing Loan portfolio.

Between the third quarter of 2018 and the third quarter of this year, the NPL portfolio dropped from N2.24tn to N1.1tn.

See Also
World Bank Gives 30-Year Ultimatum Nigeria To Repay $350 Million R.P.F.

The NBS noted that the drop in the NPL portfolio was because the banks issued too many loans. 

NPL portfolio in banks dropped from N2.24tn in the third quarter of 2018 to N1.79tn in the fourth quarter of 2018.

Further, it dropped from N1.79tn in the fourth quarter of 2018 to N1.67tn, N1.44tn and N1.1tn in the first, second and third quarters of this year.

View Comments (0)

Leave a Reply

Your email address will not be published.

13 + four =

Scroll To Top