Data from Electronic Payment Channels in the Nigeria Banking Sector for Q2 2019 has indicated that a total volume of 711,299,990 transactions valued at N40.48trn was consummated.
According to a report released by the Nigeria Bureau of Statistics NIBSS Instant Payments (NIP) transactions dominated the volume of transactions recorded. Two hundred and seventy-one million three hundred and forty-four thousand five hundred and forty-nine (271,344,549) of NIP transactions valued at N25.18trn were recorded in Q2 2019.
A total of N15.13trn credit to the private sector was allocated by the bank during the Q2 2019.
Oil & Gas and Manufacturing sectors got credit allocation of N3.33trn and N2.32trn to record the highest credit allocation as of the period under review.
As of Q2 2019, the total number of banks’ staff decreased by 0.62% QoQ from 105,017 in Q1 2019 to 104,364.
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