30 results
- 23 Sept 2014
CBN Seeks Banks’ Support to Tackle Payment System Impediments
The Central Bank of Nigeria (CBN) yesterday called for support from the banking sector to strengthen consumer confidence in the country’s payment system. Godwin Emefiele, governor of the apex bank,…
- 11 May 2017
CBN Reiterates Need to Secure Payment Systems
Central Bank of Nigeria (CBN) has reiterated the need to secure payment systems in the country stem fraudulent activities in the financial sector. Mr Dipo Fatokun, Director, Banking and Payment…
- 10 May 2015
Unified Payments Partners Six banks on PayAttitude Payment Solution
Unified Payment Systems has collaborated with six money deposit banks in the country to launch PayAttitude a payment solution that works without communications network. PayAttitude is a unique…
- 21 Feb 2025
Austriacard to Partner Banks, Fintechs, Others Boost Payment System
Austriacard Holdings, an international card and secure chip solution provider, has said it will partner with banks, fintechs and other stakeholders to enhance development of the Nigerian payment…
- 3 Apr 2026
CBN, Banks, Fintechs Launch PSPC to Boost Nigeria's Payment System
Central Bank of Nigeria (CBN), alongside commercial banks and fintech operators, has unveiled the Payments Service Providers Committee (PSPC) to tackle gaps in the country's payment infrastructure.…
- 18 Nov 2025
NIBSS's Platform Becomes Africa’s First ‘Mature’ Instant Payment System
Nigeria Inter-Bank Settlement System’s (NIBSS) Instant Payment platform (NIP) has become the first and only Instant Payment System (IPS) in Africa to reach the “Mature” level of inclusivity on…
- 14 Oct 2019
CBN Issues Guidelines for Indirect Payment System
The Central Bank of Nigeria (CBN) has issued new operating guidelines for Indirect Participants in Payments System. In a circular to Deposit Money Banks and Other Financial Institutions, the…
- 30 Aug 2013
CBN Hosts International Conference on Payments System
Central Bank of Nigeria is hosting maiden edition of International Conference on Payments System to a critical look at the Nigerian payments ecosystem. The conference will also analyse the…
- 8 Dec 2017
Al Baraka Banking Group Overhauls Islamic Core Banking Systems with iMAL
Path Solutions signed a strategic partnership agreement to revamp the bank’s core technology platforms in four locations with a shared ambition for rapid growth Al Baraka Banking Group (ABG), a…
- 7 Aug 2020
CBN to Rejig Payment System Vision Strategy
Central Bank of Nigeria (CBN) has unfolded plans to review backward its 10-year Payment Systems Vision (PSV-2030) strategy, which will now span a five-year strategy and rechristened as PSV-2025. Mr.…
- 1 Jun 2026
CBN Unveils Payment System Vision 2028, Targets 95% Financial Inclusion
Central Bank of Nigeria (CBN) has launched the Payment System Vision (PSV) 2028, a strategic roadmap aimed at expanding financial inclusion to 95 per cent of the adult population and strengthening…
- 1 May 2019
How Digital Payment is Disrupting Traditional Payment System
By Adeniyi Ogunfowoke, Digital payment is no doubt the future as more and more Nigerians embrace it. This is because whether we like it or not, the era of carrying or paying cash will soon come to an…
- 9 Apr 2018
Lagos Enhances Transit Payment System with EMV Contactless Card
Commuters on the Lagos Bus Rapid Transit (BRT) system can now board buses using a contact-less card payment system. The system allows commuters who ride on BRT buses to make payments via their Lagos…
- 8 Dec 2018
Airtel Nigeria Banks on 40m Subscribers for “Payment Bank”
Airtel Nigeria is to set up a payment service bank (PSB) in Nigeria, that would help to deliver mobile banking services to its teeming customers, according to Segun Ogunsanya, its managing director.…
- 2 Apr 2026
CBN Plans New Payment Systems Vision
Central Bank of Nigeria (CBN), has said that it will be launching a new payment systems vision that will outline where the entire ecosystem is expected to be heading in the next three years. Olayemi…
- 28 Jun 2022
Afreximbank Unveils Pan-African Payment and Settlement System
The African Export-Import Bank has created a payment solution platform, Pan-African Payment and Settlement System, to facilitate instant cross-border payments in local African currencies. This is…
- 8 Nov 2023
MoMo Inks MoU with Kwik Delivery to Revolutionise Payment System
MoMo Payment Service Bank (MoMo PSB), a leading financial institution, and Kwik Delivery, a prominent logistics and warehousing company in Africa, are excited to announce their strategic partnership…
- 9 Sept 2021
CBN Directs Banks, PSBs to Disaggregate Bulk Payments
The Central Bank of Nigeria (CBN) has instructed banks and Payment Service Providers (PSBs) to separate all transactions that would normally categorised as bulk payment upon transition. The apex bank…
- 25 Sept 2013
Interswitch Clients Scoop CBN Payment System Awards
Four Interswitch clients have won in their categories at the Central Bank of Nigeria (CBN) Payment System Awards, held in Abuja recently. All four have been recognized by the Central Bank of Nigeria…
- 22 Mar 2010
Ecobank Advocates Enhanced Payment System
Ecobank has advocated collaboration among banking partners and regional financial regulators in West Africa to strengthen the payment system. Arnold Ekpe, Ecobank Group Chief Executive Officer,…
- 15 Jun 2026
CBN Orders Banks, Fintechs to Host Payment Data Locally
The Central Bank of Nigeria has directed banks, fintech firms, and other payment service providers to store payment transaction data generated within the country on local servers from January 1,…
- 6 Aug 2012
“Efficient Payment System’ll Enhance Effectiveness of Monetary Policy, Financial Stability”
Tunde Lemo, the deputy governor, Operations of Central Bank of Nigeria (CBN) has said that an efficient payment system will enhance the effectiveness of monetary policy and the overall financial…
- 11 Apr 2018
NCC, CBN Ink Agreement on Payment Systems
Nigerian Communication Commission ( NCC ) and the Central Bank of Nigeria ( CBN ) on Tuesday in Abuja signed a Memorandum of Understanding ( MoU ) on payment system. Prof. Umar Danbatta,…
- 4 May 2023
Nigeria’s Payment System among Best Globally- eTranzact CEO
Mr Niyi Toluwalope, Chief Executive Officer (CEO) of eTranzact, an electronic and mobile payment solution company, says the Nigerian Payment System is among the best in the world. Toluwalope said…
- 6 Oct 2021
CBN Puts Investments in Electronic Payment Systems @ $500M
Mr. Godwin Emefiele, Central Bank of Nigeria Governor said that payment services has attracted investment of about $500 million in firms operated by Nigerian founders and advised banks to adopt…
- 19 May 2022
MoMo Payment Service Bank Formally Commences Operations
Following the final approval for a Payment Service Bank (PSB) licence granted by the Central Bank of Nigeria (CBN), MTN Nigeria’s fintech subsidiary, MoMo Payment Service Bank (MoMo PSB) Limited,…
- 20 Sept 2019
CBN Issues AIP To 3 Payment Service Banks
The Central Bank of Nigeria (CBN) has issued Approvals-in-Principle (AIP) to three Payment Service Banks (PSBs). The three institutions issued approvals in principle to operate as Payment Service…
- 25 Aug 2018
The Role of E-Payment Systems in Doing Business in Nigeria
By Rotimi Adeniyi-Akintola Countries the world over are witnessing the rapid evolution of payment systems. These changes follow the technological shift from traditional modes of payment such as cash,…
- 19 Dec 2016
Zenith Bank, Mastercard Partnership Set to Strengthen Ghana’s Banking System
Mastercard and Zenith Bank have extended their partnership in West Africa to now include Ghana. The agreement is geared towards issuing a suite of digital payment solutions that include prepaid,…
- 18 Jun 2025
NIBSS National Payment Stack to Transform Nigerian Instant Payments
Nigeria Inter-Bank Settlement System (NIBSS) has launched the National Payment Stack (NPS), a payment infrastructure aimed at redefining digital payments in Africa and building on the introduction of…