ATM Transactions Decline By N67bn In Q4’20

 ATM Transactions Decline By N67bn In Q4’20

The value of Automated Teller Machine transactions, on a quarterly basis, dropped by N67 billion to N4.82 trillion in the fourth quarter of 2020.

This is a decline from N5.49 trillion recorded in the previous quarter, Q3’20.

However, the volume of transactions rose by 21 percent to 242.3 million in Q4’20 from 200.94 million in Q3’20.

Stakeholders in the banking sector have attributed the decline to impairment in income, loss of job, problems due to the negative impact of COVID’19 pandemic, recession and problems associated with ATM terminals cash dispenser error.

Also, further analysis of data from the National Bureau of Statistics, NBS’ Selected Banking Sector Report showed that on a yearly basis, the value of ATM transactions grew by 192  percent.

This is a growth to N4.82 trillion in Q4’20 from  N1.65 trillion in Q4’19.

Similarly, the volume of ATM transactions grew by 20 percent to 242.3 million from 202.37 million in Q4’19.

Kehinde Ogunyale

Freelance Investigative and Data Journalist

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