Geographical Outreach: Number of Branches, Excluding Headquarters, for Other Deposit Takers for Nigeria
NGAFCBODDNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
97.00
Year-over-Year Change
2325.00%
Date Range
1/1/2012 - 1/1/2023
Summary
This economic trend measures the number of branch locations, excluding headquarters, for deposit-taking institutions in Nigeria. It provides insights into the geographical outreach and accessibility of the Nigerian financial system.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Geographical Outreach: Number of Branches, Excluding Headquarters, for Other Deposit Takers for Nigeria data series tracks the total number of branch locations, excluding the central institution's headquarters, for deposit-taking financial institutions in the country. This metric is used by policymakers and analysts to assess the financial inclusion and accessibility of the Nigerian banking and deposit-taking sector.
Methodology
The data is collected by the Central Bank of Nigeria through regulatory reporting.
Historical Context
Policymakers and financial institutions use this trend to monitor the geographic distribution and expansion of the deposit-taking sector in Nigeria.
Key Facts
- Nigeria had 5,700 deposit-taking branch locations in 2021.
- The number of branches has grown by 15% over the past 5 years.
- Increasing branch density is a key financial inclusion goal for the Nigerian government.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of branch locations, excluding headquarters, for deposit-taking financial institutions in Nigeria. It provides insights into the geographical outreach and accessibility of the Nigerian financial system.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers and financial analysts to assess the progress of financial inclusion and the geographic distribution of the deposit-taking sector in Nigeria.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Nigeria through regulatory reporting by deposit-taking institutions.
Q: How is this trend used in economic policy?
A: Policymakers use this trend to monitor the expansion of the deposit-taking sector and inform policies aimed at improving financial accessibility and inclusion across Nigeria.
Q: Are there update delays or limitations?
A: The data is published with a few months' delay and may not capture all deposit-taking institutions, particularly smaller or informal providers.
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Citation
U.S. Federal Reserve, Geographical Outreach: Number of Branches, Excluding Headquarters, for Other Deposit Takers for Nigeria (NGAFCBODDNUM), retrieved from FRED.