Wahala for Nigerian banks as 234 branches and 649 ATMs closed — IMF

 
The International Monetary Fund, IMF, said that Nigerian banks closed 234 branches and 649 Automated Teller Machines, ATMs, in 2020 leading to a decline in the country’s Financial Access Score (FAS) to 4.44 in the year against 4.78 in 2019.
 

The Fund disclosed this in its Financial Access Survey 2021 Trends and Developments released yesterday. 

According to the report, the international community uses two FAS indicators to monitor the Target 8.10 of the 2030 Sustainable Development Goals (SDGs) which aims at strengthening the capacity of domestic financial institutions to expand access to banking and financial services.

The two FAS indicators are Number of Commercial Bank Branches per 100,000 Adults and Number of ATMs per 100,000 Adults.

According to the report, Nigeria recorded declines in these two critical FAS indicators and  12 other indicators among the 64 indicators measured by the FAS.

This according to the report, was due to the decline in the number of commercial bank branches in Nigeria to 5,158 in 2020 from 5,392 in 2019.

Consequently, the Number of Commercial Bank Branches per 1,000 km2 in Nigeria fell to 5.94 in 2020 from 5.68 in 2019.

Similarly, in terms of Number of ATMs per 100,000 Adults, the country’s Financial Access score fell to 17.19 in 2020 from 16.14 in 2020.

The reduction according to the IMF was to fall in the number of ATMs in Nigeria by 649 to 18,810 in 2020 from 19,459 in 2019.

Also, the Number of ATMs per 1,000 km2 in Nigeria fell to 20.65 in 2020 from 21.36 in 2019.

The IMF report also showed a sharp decline in the number of registered mobile money agent outlets in Nigeria to 129,154 in 2020 from 145,800 in 2019, representing 11 per cent decline.

Comments

Post a Comment

Popular posts from this blog

Gov Abdullahi Ganduje has Finished Dollars as Man Offers himself For Sale In Kano State

Image
  Gov Ganduje BUY ME   WITH JUST 20M You can buy a full grown man in Nigeria  At first a woman sold  her baby for one Bag of rice . This time a man put himself up for sale in Kano rejected 5million offers insisting of 20Million. Abdulahi Ganduje is the Governor of Kano State who was got by the Daily Nigeria Spy Camera stalking Dollars in His Clothe being bribes received from multiple contractors Watch the Video Below
Read more

I WILL RELEASE THE NAMES THOSE BIG MEN THAT WANTS TO SLEEP WITH ME HEAVILY FRONT GHANAIAN ACTRESS THREATENED BIG MEN

Image
QUEEN PARTRICIA Heavily Front Ghanaian Actress is on the News again this time she almost released the names of those big men that are begging to sleep with her Speaking on Vibsin5 Tv the Actress Threaten to release the List of Big men that wants to sleep with her.   She Promised to increased her backside as soon as she gets the money   This is what she said on  the Video.             Lets hear what you have to say on the comment section                              
Read more

TEARS IN CALABAR AS MRS IRONBAR DIES

Image
                                     Mrs Elizabeth Ironbar a   membe r representing Akpabuyo State Constituency in the Cross River State House of Assembly, is dead. Mrs Ironbar   died from   protracted illness on Wednesday 27 th of October,   in Calabar. Cross River State. Having been elected in 2015 and 2019 for the first and second time to represent the people of Akpabuyo Constituency in the State House of Assembly       Mrs Ironbar   was one of the eight Assembly members who refused to join Senator Ben Ayade the governor of the state to defect to All Progressives Congress, APC. Adieu Mrs Ironbar More details on this later
Read more
Privacy Policy for Tee political info At Tee political info, accessible from https://teepoliticalinfo.blogspot.com/, one of our main priorities is the privacy of our visitors. This Privacy Policy document contains types of information that is collected and recorded by Tee political info and how we use it. If you have additional questions or require more information about our Privacy Policy, do not hesitate to contact us. This Privacy Policy applies only to our online activities and is valid for visitors to our website with regards to the information that they shared and/or collect in Tee political info. This policy is not applicable to any information collected offline or via channels other than this website. Consent By using our website, you hereby consent to our Privacy Policy and agree to its terms. Information we collect The personal information that you are asked to provide, and the reasons why you are asked to provide it, will be made clear to you at the point we as...
Read more

Boko Haram: I Regret Giving Birth Abubakar Shekau – Mother

Image
  Laments Falmata Abubakar, the mother of the late vicious Boko Haram leader, Abubakar Shekau, said she regretted giving birth to him because he was a tragedy to humanity.   Shekau died in May 2021 after waging a deadly war against the Nigerian state that led to the death of over 100,000 thousand people, displacement of over three million people and destruction of towns, villages, schools, hospitals and other social amenities valued at over $9bn, according to data released by the state, national and international organisations.     Except his village, Shekau’s reign of terror did not spare his kinsmen in Borno and Yobe states; even as pain and agony were inflicted on people in all the states in the North East, North West, North Central and other parts of Nigeria. This is the first time that Falmata voiced out her reservations about her son since his death. She spoke in an exclusive interview with Trust TV in her village, Shekau, Yobe State. The full documen...
Read more

Commotion in Kaduna as Bandits Strike a Police Convoys and Kidnap a Number of people in Birnin Gwari Highway,.

Image
Commotion in  Kaduna as Bandits Strike a Police Convoys and Kidnap a Number of people in Birnin Gwari Highway According to reports, some of the traders who fled into the bush called their relatives to inform them of the situation. Mallam Nasir El-Rufai, Governor of Kaduna, paid a visit to President Mohammad Buhari on Tuesday to discuss the security situation. He told the state House Correspondent that there is no such thing as repentant bandits and that the state's policy is to send terrorists who attack innocent people to their creator to answer for their crimes against humanity. ASP Jalige Mohammed, Public Relations Officer for the State Police Command, promised to comment on the incident once more details were obtained.   Suspected bandits attacked a convoy of more than ten motorists and kidnapped dozens of passengers on the Kaduna-Birnin Gwari Highway. A resident who spoke on the condition of anonymity told DAILY POST in Kaduna on Wednesday that bandits kidnapp...
Read more