Nigeria Records 13% Increase in Active Bank Accounts, Access Bank Leads on Customers' Deposit
- NIBSS has revealed that Nigeria witnessed a 17.5 million increase in active bank accounts last year
- These new accounts were opened between December 2021 and December 2022 as banks heavily leveraged technology
- Opay, and Moinepoint, among several other financial technology companies, have contributed to this growth
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Legit.ng journalist Dave Ibemere has over a decade of experience covering Tech, Energy, Stocks, Investments, and the Economy.
The Nigeria Inter-Bank Settlement Systems (NIBSS) has revealed the number of active bank accounts in Nigeria is now 151 million as of the end of December 2022.
This represents a 13% growth when compared with 133.5 million active bank accounts recorded in 2021.
Source: UGC
NIBSS stated this in its latest e-payment data obtained from its website.
The data also showed that out of the active bank accounts, individual accounts represent 96.6% at 146 million, while the remaining are corporate accounts.
Also, NIBSS stated that the total number of bank accounts in the country as of December 2022 was 223.8 million.
This means that there are 72.8 million dormant accounts in Nigeria.
Breakdown of active customer accounts in Nigeria
Further breakdown of NIBSS data showed that the number of current accounts rose by 14% to 56.9 million in 2022 from 49.8 million recorded in 2021.
BusinessDay reports that savings accounts increased by 16% to 139.2 million in 2022 from 120.4 million in 2021.
Top 10 banks with highest customer deposits in 2022
- Access Bank: N8.19 trillion
- Ecobank: N8.06 trillion
- Zenith Bank: N8.04 trillion
- United Bank for Africa: N7 trillion
- First Bank: N6.6 trillion
- Guaranty Trust Bank: N4.26 trillion
- Fidelity Bank: N2.29 trillion
- FCMB: N1.82 trillion
- Union Bank: N1.53 trillion
- Sterling Bank: N1.15 trillion
Access, GTB, UBA others to debit customers' bank accounts for FG
Earlier, Legit.ng also reported that the federal government instructed all Nigerian banks to debit customers with domiciliary accounts.
The debit is for old foreign currency transactions carried out between 2021 and 2023 by customers and will be remitted to the government.
Access Bank, GTB, UBA, Zenith, and other commercial banks have sent messages to customers to expect the debits.
In a notice titled 'Important Notice: Electronic Money Transfer Levy Deductions Begin on Foreign Currency Transactions,' the First Bank of Nigeria announced that deductions would start promptly and be forwarded to the FIRS.
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Source: Legit.ng
