• Latest
  • Trending
  • All
  • LATEST NEWS
  • SPONSORED POSTS
  • BANKING
  • Cryptocurrency
  • Job Past Questions
  • PRICE WATCH
  • VIEW POINT
  • ECONOMY
  • Careers
  • Press Release
  • Breaking News
  • education news
  • Personal Finance
  • Networth
List of Nigerian banks USSD short codes for mobile transactions

Banks electronic transfers hit N356.47tr

May 6, 2021
A Comprehensive Guide to the European Union Blue Card

Unlocking Opportunities: A Comprehensive Guide to the European Union Blue Card

August 31, 2024
Naira Redesign Policy Causes Banks' Deposits with CBN to Plummet by 95.82%

Currency in Circulation hits all-time-high Fueling Inflationary Pressures

August 29, 2024
Ecobank Nigeria Launches Oja Oge Pop up Marketplace to Empower SMEs

Ecobank Nigeria Launches Oja Oge Pop-up Marketplace to Empower SMEs

August 28, 2024
inflation Push Over 31 Million Nigerians into Acute Food Shortage

Insecurity and Economic Woes Push Millions of Nigerians into Acute Food Crisis

August 28, 2024
NAFDAC Cracks Down on Use of Unapproved Saccharine in Bread Production

NAFDAC Cracks Down on Use of Unapproved Saccharine in Bread Production

August 27, 2024
Food Prices in Nigeria Soar in July 2024

Food Prices in Nigeria Soar in July 2024: Beans, Eggs, and Yam Lead the Surge

August 27, 2024
Fed Rate Cuts Could Offer Respite for Nigeria’s Naira and Economy

Fed Rate Cuts Could Offer Respite for Nigeria’s Naira and Economy

August 27, 2024
Nigeria's Manufacturing Sector Struggles in Q2 2024

Nigeria’s Manufacturing Sector Struggles in Q2 2024: Growth Slows Amid Economic Challenges

August 27, 2024
Nigeria's Agricultural Sector Shows Modest Growth in Q2 2024

Nigeria’s Agricultural Sector Shows Modest Growth in Q2 2024: Crop Production Remains Key Driver

August 27, 2024
Nigeria's Economy Grows by 3.19% in Q2 2024

Nigeria’s Economy Grows by 3.19% in Q2 2024: Services and Industry Lead the Charge

August 27, 2024
States Share $71 Billion in Seven Years, But Poverty Persists

States Share $71 Billion in Seven Years, But Poverty Persists: What’s Going Wrong in Nigeria?

August 26, 2024
Interest Rate Hikes, Inflation Squeeze Profit Margins for Nigerian Paint Manufacturers

Interest Rate Hikes, Inflation Squeeze Profit Margins for Nigerian Paint Manufacturers

August 26, 2024
  • About
  • Privacy Policy
  • Terms of Use
  • Feedback
  • Advertise
Tuesday, June 17, 2025
  • Login
Financial Watch
  • HOME
  • Banking
  • ECONOMY
  • VIEW POINT
  • PRICE WATCH
  • CRYPTO WATCH
No Result
View All Result
  • HOME
  • Banking
  • ECONOMY
  • VIEW POINT
  • PRICE WATCH
  • CRYPTO WATCH
No Result
View All Result
Financial Watch
No Result
View All Result
Home BANKING

Banks electronic transfers hit N356.47tr

by Sam Gabriel
May 6, 2021
in BANKING
1
List of Nigerian banks USSD short codes for mobile transactions

Nigerian banks

491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Banks electronic transfers hit N356.47tr – The National Bureau of Statistics (NBS) yesterday said in the Fourth Quarter (Q4) 2020, total transactions recorded through Electronic Payment Channels reached N356.47 trillion.

According to its data titled: “Selected Banking Sector Data – Q4 2020”, the value was recorded from a total volume of 3,464,811,083 transactions in the period under review.

The data said: “A total volume of 3,464,811,083 transactions valued at N356.47trillion was recorded in Q4 2020 as data on Electronic Payment Channels in the Nigeria Banking Sector revealed”.

The report said online transfers dominated the volume of transactions recorded.

It added that 2,227,449,949 volume of online transfer transactions valued at N120.27 trillion were recorded in Q4 2020.

The NBS said in the period under review, banks’ credit to the private sector was N20.37 trillion.

It added that “Oil and Gas and Manufacturing sectors got credit allocation of N3.93 trillion and N3.19 trillion to record the highest credit allocation as at the period under review”.

Read also: CBN: Nigerians to enjoy increased access to credit in 2021 

It explained that as of Q4 2020, the total number of Banks’ staff decreased by -0.90.per cent QoQ from 95,888 in Q3 2020 to 95,026.

This is an indication that 862 staff lost their jobs in the period under review.

The report said: “In terms of credit to the private sector, the total value of credit allocated by the bank stood at N20.37trillion as of Q4 2020”.

Meanwhile, the Central Bank of Nigeria (CBN) has published an updated list of International Money Transfer Operators (IMTOs) approved for Diaspora Remittances in the country as at April 1, totalling 57.

The reports that the updated list was published by the apex bank via its official website yesterday.

Among the IMTOs listed are: Aftab Currency Exchange Ltd, Nigerian Postal Service, Ria Financial, PayPal Inc,  Western Union, Swift Payment Ltd and Worldremit Ltd.

Also on the list are Money Gram, Interswitch Ltd, Paycom Nigeria Ltd, Pagatech Ltd and Flutterwave Technology Solutions Ltd, among others.

Share196Tweet123
Previous Post

Naira Gains 0.06% against Dollar at I&E

Next Post

Polaris Bank’s assets hit N1.2tr and profit rises to N28.9b

Sam Gabriel

Sam Gabriel

Samson Gabriel a graduate of mass communication from Auchi Polytechnic, he is a passionate writer with experience in radio scrip writing. He brings his experience from the broadcast media into play here as he continues to enjoy his passion as a journalist. He can be contacted via whats-app on: +234701105670

Next Post
Polaris agency banking marks first days with Nb transactions

Polaris Bank’s assets hit N1.2tr and profit rises to N28.9b

Comments 1

  1. Tosin Badmus says:
    4 years ago

    Cash chain Ltd is an online and offline business opportunity that was born out of the need to build up people financially across the globe in all areas of living to the point of experiencing high quality life which enables our investors gets 💯 discounts of what they invested within 1hr to 5hrs intervals without referral depending on the package investedIn Cash Chain Ltd we trade on various kinds of currencies and raw currencies, and we use the Tripple matrix system that helps us generate 3x of what you invested under 4hrs and we pay you within 1hr which is total of 5hrs.https://wa.me/message/AHG7KRXKZWK6E1

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Stanbic IBTC launches Africa-China Agent Value Proposition

List of Stanbic IBTC bank Routing Number, sort codes and branches in Nigeria

May 2, 2023
Banks Employ More Contract Staff as full staff continue to dwindle

Nigerian bank employee grades and levels

June 14, 2021
N-power Portal Login npvn.npower.gov.ng/login 2020/2021 – Update Your Account

N-power Portal Login npvn.npower.gov.ng/login 2020/2021 – Update Your Account

November 17, 2020
Zenith Bank2

List of Zenith bank Routing Number, sort codes and branches in Nigeria

May 2, 2023
Union Bank2

List of Union bank Routing Number, sort codes and branches in Nigeria

May 2, 2023
How buy 2019 JAMB 2019 UTME form/ registration PIN online

UTME result: How to Check JAMB Result 2022 – Jamb Result Checker

1333
JAMB Result checker 2020 out | www jamb org ng result checker

Utme 2021: Check JAMB Results Using JAMB Registration Number

1146
List of JAMB Approved CBT Centres In Abia State 2020/2021 | Abia State Jamb Cbt Centres

Jamb Portal 2021: How to check Jamb Results – jamb.org.ng/efacility

523
P Yes registration

www.p-yes.gov.ng – Register For P-YES Progeamme Portal – Apply Now

436
Breaking: JAMB releases more 15,490 UTME results

JAMB Results 2021 Online Checking Steps | www.jamb.org.ng Result

316
A Comprehensive Guide to the European Union Blue Card

Unlocking Opportunities: A Comprehensive Guide to the European Union Blue Card

August 31, 2024
Naira Redesign Policy Causes Banks' Deposits with CBN to Plummet by 95.82%

Currency in Circulation hits all-time-high Fueling Inflationary Pressures

August 29, 2024
Ecobank Nigeria Launches Oja Oge Pop up Marketplace to Empower SMEs

Ecobank Nigeria Launches Oja Oge Pop-up Marketplace to Empower SMEs

August 28, 2024
inflation Push Over 31 Million Nigerians into Acute Food Shortage

Insecurity and Economic Woes Push Millions of Nigerians into Acute Food Crisis

August 28, 2024
NAFDAC Cracks Down on Use of Unapproved Saccharine in Bread Production

NAFDAC Cracks Down on Use of Unapproved Saccharine in Bread Production

August 27, 2024
Financial Watch

Copyright © 2023 Financial Watch.

Navigate Site

  • About
  • Privacy Policy
  • Terms of Use
  • Feedback
  • Advertise

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • HOME
  • Banking
  • ECONOMY
  • VIEW POINT
  • PRICE WATCH
  • CRYPTO WATCH

Copyright © 2023 Financial Watch.