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Vanguard News
ATM transactions decline by N67bn in Q4’20
On
The value of Automated Teller Machine (ATM) transactions, on quarterly basis dropped by N67 billion to N4.82 trillion in the fourth quarter of last year (Q4’20) from N5.49 trillion 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.
But further analysis of data from the National Bureau of Statistics, NBS’ Selected Banking Sector Report showed that on yearly basis, value of ATM transactions grew by 192 percent to N4.82 trillion in Q4’20 from N1.65 trillion in Q4’19.