Selected Banking Sector Data News Today : Breaking News, Live Updates & Top Stories | Vimarsana

By James Emejo A total volume of 3,464,811,083 transactions worth N356.47 trillion was recorded on electronic payment channels in the fourth quarter of 2020 (Q4 2020), the National Bureau of Statistics (NBS), stated yesterday. Also, banking sector’s non-performing loan portfolio increased by 15.69 per cent to N1.23 trillion with gross loans of about N20.48 trillion in Q4 compared to N1.17 trillion and gross loans of N19.46 trillion in Q3. According to the ‘Selected Banking Sector Data: Sectorial Breakdown of Credit, e-Payment Channels and Staff Strength (Q4 2020)’ report, posted on the ...

Advertisement This is 2.5 percent higher than credit disbursed to the private sector in Q3 2020. According to the report titled, ‘Selected Banking Sector Data: Sectorial Breakdown of Credit, ePayment Channels and Staff Strength (Q4 2020)’, released on Sunday, NBS noted that the oil and gas sector received the highest credit allocation of N3.93 trillion followed by N3.19 trillion received by the manufacturing sector. This represents 19.3 and 15.7 percent increase respectively when compared to the third quarter of 2020 (Q3). Advertisement “In terms of credit to the private sector, the tot...

ON THE GO Osinbajo: No group, ideology can defeat God’s promise for Nigeria’s greatness Vice-President Yemi Osinbajo says God’s promise for Nigeria’s greatness cannot be defeated by human machinations.Advertisement He stated this on Sunday at the ongoing 108th annual convention of the Nigerian Baptist... Residents flee to neighbouring communities as gunmen attack Niger villages Residents of some communities in Niger state have fled to neighbouring areas following attacks by gunmen.Advertisement TheCable understands that some communities in Munya LGA of Niger state ha...

E-payment transactions rise 21% to N320trn in Q3’20 On By Elizabeth Adegbesan MONEY MARKET Adoption of cashless financial transactions have hit a new height in Nigeria as the value of electronic transactions rose by 21 percent to N319.99 trillion in the third quarter of the year (Q3’20) from N263.8 trillion in Q2’20. Meanwhile, in the same period commercial banks’ credit to private sector stood at N19.9 trillion rising by five percent when compared to M18.8 trillion credit in Q2’20. In its Selected Banking Sector Data for Q3’20 the National Bureau of Statistics, NBS, stated: “A...