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There are 70.18m bank accounts in Nigeria… and five other cool banking stats

Today's Scoops

There are 70.18m bank accounts in Nigeria… and five other cool banking stats

by Segun Odeleye

At an event organised in Lagos yesterday for technology journalists by the Electronic Payment Providers Association of Nigeria (EPPAN), the Nigeria Inter-Bank Settlement Statistics (NIBSS) was made available and it brought up some interesting numbers.

Here are six interesting facts according to the data, which is correct as at July 2014:

– The total number of bank accounts in Nigeria was 70.18 million.

– Of the 70.18 million, 15.45 million are current accounts, while 51.59 million are savings accounts.

– The total number of corporate accounts in Nigeria are 5.37 million; and the total number of individuals account is 64.81million.

–  The number of Nigerians with bank accounts is still however below 30 million people

– There are currently about 13, 770 ATMs in Nigeria. As at July 2014, the ATMs have recorded 214.63 million transactions worth about N2 trillion.

– The number of active payment cards on the ATMs is about 41.89 million.

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