Jungle Journalist Media Limited
  • News
  • Politics
  • Economy and Business
  • Sports
  • Editorial
  • Education
  • entertainment
  • Health
  • Niger Delta
  • Security
No Result
View All Result
  • News
  • Politics
  • Economy and Business
  • Sports
  • Editorial
  • Education
  • entertainment
  • Health
  • Niger Delta
  • Security
No Result
View All Result
Jungle Journalist Media Limited
No Result
View All Result
  • News
  • Politics
  • Economy and Business
  • Sports
  • Editorial
  • Education
  • entertainment
  • Health
  • Niger Delta
  • Security

Home » Economy and Business » 234 bank branches, 649 ATM machines have so far shut down in Nigeria – IMF

234 bank branches, 649 ATM machines have so far shut down in Nigeria – IMF

by Jungle Journalist
November 3, 2021
14
SHARES
141
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp



The International Monetary Fund, IMF, yesterday, 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 IMF 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.

Vanguard

ReadAlso

Ganduje summons bank managers to explain shortage of new notes

Gov Zulum to Banks: Dispense New Notes Or We Revoke Your Land 

Tags: ATMsbanksIMF
Share6Tweet4Send
Previous Post

Uche Secondus would have killed PDP — Wike

Next Post

JUST IN: PA To Owner Of Collapsed Ikoyi Building Found Dead, Owner Still Missing

You MayAlso Like

National

Obi-Datti: Tinubu petitions NBC, wants Channels TV sanctioned

March 31, 2023
National

Police arrest 19 Shi’ite members over unlawful procession in Abuja

March 31, 2023
National

PDP quashes suspension order on Shema, Fayose, Ayim, others

March 31, 2023
International

Death toll in India temple collapse rises to 35

March 31, 2023
National

Mbah, Enugu’s Governor-Elect, dedicates victory, certificate of return to electorate

March 31, 2023
National

Ikpeazu terminates appointments of all Special Advisers, Senior Special Assistants, Technical Officers

March 31, 2023
Next Post

JUST IN: PA To Owner Of Collapsed Ikoyi Building Found Dead, Owner Still Missing

Discussion about this post

Recent Posts

  • Obi-Datti: Tinubu petitions NBC, wants Channels TV sanctioned
  • Police arrest 19 Shi’ite members over unlawful procession in Abuja
  • PDP quashes suspension order on Shema, Fayose, Ayim, others
  • Death toll in India temple collapse rises to 35
  • Mbah, Enugu’s Governor-Elect, dedicates victory, certificate of return to electorate
ADVERTISEMENT

Recent Comments

  • Ogbuenyi Sunday on Anambra police arrest river-bathing prophet ‘Onye Eze Jesus’
  • Stephen CE on List of international stars who have joined #EndSARS/#EndSWAT and what they said

Trending

Imo-born Billionaire And Labour Party Guber Aspirant Found Dead After Meeting 

VIDEO(VIEWERS DISCRECTION!) Day of rage as Nasarawa mothers go totally naked to protest guber result

After Peter Obi, Ifeanyi Ugwuanyi, Chimaroke Nnamani adds Peter Mbah among those who betrayed him 

ADVERTISEMENT

BREAKING: Two Killed As Unknown Gunmen Invade Security Checkpoint In Enugu 

NDLEA Arrests Enugu Big Boy, Onyeze With Drugs Concealed In Air Freshener Packs At Lagos Airport   

2023 polls: Appeal Court reserves judgement in suit seeking all Enugu PDP disqualification

FMC Umuahia performs 11 kidney transplants with 80% success 

BREAKING: PDP suspends National Chairman, Iyorchia Ayu 

Churches, Mosques and Shrines Must Present Financial Statements, Records, Render Accounts To Their Members—Chief Patrick Eholor

‘Opay, Moniepoint, Palmpay, others insured by NDIC, licensed by CBN’, not suspended

    ADVERTISEMENT

    Popular Stories

    • BREAKING: Gunmen Take Over Onitsha-Owerri Road, Set Over 10 Vehicles, Goods Worth Billions Ablaze

      2683 shares
      Share 1073 Tweet 671
    • JUST IN: CBN Governor, Godwin Emefiele sacked

      1760 shares
      Share 704 Tweet 440
    • BREAKING: Finland police arrests Simon Ekpa 

      965 shares
      Share 386 Tweet 241
    • BREAKING: IReV Portal Shows Labour Party Won 19 States Plus FCT, PDP 8, APC 7, NNPP 2 States—Baba-Ahmed

      602 shares
      Share 241 Tweet 151
    • NEWS FLASH: Peter Mbah of PDP cruising to victory, wins 14 LGAs in Enugu guber polls 

      511 shares
      Share 204 Tweet 128
    • JUST IN: Daughter of Benin billionaire/CEO of Uyi Technical commits suicide

      460 shares
      Share 184 Tweet 115

    ABOUT US

    Jungle Journalist Media Limited

    Jungle Journalist Media Limited

    Jungle Journalist is an online news and information resource centre dedicated to accurate and timely news reports.

    Read More >>

    CONNECT WITH US

    SECTIONS

    • Agriculture
    • Aviation
    • Biafra
    • birthday
    • Bizarre
    • Breaking News
    • Building and Properties
    • Columnist
    • Community Reports
    • crime
    • Economy and Business
    • Editorial
    • Education
    • Election
    • electricity
    • entertainment
    • Health
    • Holidays
    • Human Rights
    • International
    • Interviews
    • Law
    • Magazine
    • media
    • Money
    • National
    • News
    • Niger Delta
    • North
    • Obituary
    • Oil and Gas
    • Opinions
    • Photos
    • Politics
    • Press Release
    • Religion and Culture
    • Science and Technology
    • Security
    • South East
    • South-South
    • South-West
    • Sports
    • Transport and Aviation
    • Violence
    • Women and Children
    • Worship
    • Youth
    No Result
    View All Result

    NEWS SOURCES

  • Punch
  • Nigerian Tribune
  • The Nation
  • Thisday
  • DailyTrust
  • The Sun
  • Daily Independent
  • PM News
  • Vanguard
  • Premium Times
  • Sahara Reporters
  • The Guardian
  • Leadership
  • Daily Times Of Nigeria
    • About
    • Advertise With Us
    • Privacy Policy

    © 2021 Jungle Journalist Media Limited - Web Designed by AfeesHost.

    No Result
    View All Result
    • News
    • Politics
    • Economy and Business
    • Sports
    • Editorial
    • Education
    • entertainment
    • Health
    • Niger Delta
    • Security

    © 2021 Jungle Journalist Media Limited - Web Designed by AfeesHost.