The National Bureau of Statistics (NBS) says Automated Teller Machines (ATMs) from selected banks across the country recorded transactions valued at N1,603 billion in the second quarter.

The NBS stated this in its Selected Banking Sector Data for the second quarter, 2018, made available to Brand Spur Nigeria.

The bureau stated that a total volume of 509,668,433 transactions valued at N32.90trn was recorded in Q2 2018 as data on Electronic Payment Channels in the Nigeria Banking Sector revealed.

It, however, stated that Automated Teller Machine (ATM) transactions dominated the volume of transactions recorded. 217,417,961 volume of ATM transactions valued at N1,603bln were recorded in Q2 2018.

In terms of credit to the private sector, the report stated that the total value of credit allocated by the bank stood at N15.34trn as at Q2 2018. Oil & Gas and Manufacturing sectors got credit allocation of N3.45trn and N2.02trn to record the highest credit allocation as at the period under review.

The report also stated that as at Q2, 2018, the total number of banks' staffs increased by 13.67% QoQ from 89,608 in Q1 2018 to 101,861.

SOURCE: https://brandspurng.com/atms-record-transactions-worth-n1-6bn-in-q2-nbs/