Isaac Anumihe, Abuja
The National Bureau of Statistics (NBS) says the Nigerian banking sector allocated N15.13 trillion as total credit to the private sector in the second quarter (Q2) 2019.
The NBS figures, contained on its “Selected Banking Sector Data: Sectorial Breakdown of Credit, ePayment Channels and Staff Strength (Q2 2019)was posted on its website on Sunday in Abuja.
Out of the total amount of credit allocation given out for the period, the oil/gas and manufacturing sectors got allocations of N3.33 trillion and N2.32 trillion respectively to secure the highest credit allocation.
The report said that a total volume of 711,299,990 transactions valued at N40.48 trillion were recorded in the quarter as data on Electronic Payment Channels in the Nigeria banking sector revealed.
“The Nigeria Inter-Bank Settlement System (NIBSS) Instant Payments (NIP) transactions dominated the volume of transactions recorded,“ it said.
The report said 271,344,549 volume of NIP transactions valued at N25.18 trillion were recorded in the second quarter.
It further said that the total number of banks’ staff as at the second quarter of 2019, reduced by 0.62 per cent quarter-on-quarter from 105,017 in quarter one to 104,364.
The NBS said that the data was supplied administratively by the Central Bank of Nigeria (CBN), verified and validated by the agency.
Meanwhile, Prof. Benedict Oramah, President of the African Export-Import Bank (Afreximbank), at the weekend at United Nations Headquarters in New York, received the 2019 African Renaissance and Diaspora Network of Private Sector Development Award.
The award, presented by the African Renaissance and Diaspora Network (ARDN) during the “Africa: Open for Business Summit” on the sidelines of the United Nations General Assembly, celebrates leadership for and from the African continent in pursuit of the 2030 UN Agenda for Sustainable Development and the African Union’s Agenda 2063.
In a citation preceding the award, Constance Newman, Chairman of ARDN and a former United States Assistant Secretary of State for African Affairs, said that Prof. Oramah was selected as the 2019 recipient in recognition of his exemplary leadership in the fields of trade, trade finance and economics, and as a scholar and prolific writer.
“As the leader of Afreximbank, you have not only overseen the strengthening of trade activities throughout Africa, you have also played pivotal roles in the application of the bank’s expertise to support humanitarian emergency relief programmes,” she said.
Ms. Newman also cited his achievement in the “development of the bank’s Health and Medical Tourism Programme, working with international partners to foster the emergence of world class medical facilities and research centres across Africa designed to improve life expectancy as well as stem the outflow of billions in foreign exchange”.