Friday, 22 August 2014

ATM transaction volume hits N1.7tn –CBN



The Central Bank of Nigeria has put the volume of transaction on Automated Teller Machines in the country at over N1.7tn as of June this year. It said the number of ATMs increased from 10,727 in 2012 to 15,000 as of June 2014, with transaction volumes moving from N1.3tn to N1.7tn within the same period. The CBN, however, regretted that despite the 15, 000 active and existing ATMs, over 46 per cent of Nigerian adults remained unbanked. The bank made these figures known on Thursday in Lagos at the launch of a mobile money initiative led by Globacom and four financial institutions, FirstMonie (a subsidiary of First Bank of Nigeria), Ecobank Plc, Stanbic IBTC Bank Plc and Zenith Bank Plc. The Director, Payment Systems, CBN, Mr. Dipo Fatokun, said the bank had also increased the Point of Sales terminals across the country from 21,400 in 2012, to 135,000 as of June 2014. He said with the increment in the number of terminals, the PoS transaction volume had also risen from N57.3bn to N138bn in the period under review. Fatokun expressed confidence that the Globacom-led initiative tagged: ‘GLO Exchange’, would encourage more Nigerian adults to be banked. He noted that the initiative was significant to the CBN, with the use of telecommunications platforms to bring more Nigerians into the financial inclusion cycle.
Punch Newspaper

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