30 results
- 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…
- 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…
- 29 Mar 2017
Instant Payment Hits N38.2trn Transactions Milestone in 2016 – NIBSS
Nigeria Inter-Bank Settlement System Plc (NIBSS) has said total volume of Instant Payment (NIP) transactions recorded 154.5 million with value of N38.2 trillion in 2016. This is an increase of 117…
- 5 Oct 2025
NIBSS Targets Zero Transfer Fees on Instant Payments by 2026
Nigeria’s Interbank Settlement System (NIBSS) has unveiled plans to eliminate transfer fees on its NIBSS Instant Payment (NIP) platform by 2026, a move designed to accelerate the country’s transition…
- 27 Dec 2019
Instant, PoS Payments Hit N97.32tn in 11 Months
Banks’ customers carried out a total of N97.32tn worth of financial transactions on the instant payment and Point of Sale platform between January and November this year, the latest report from the…
- 2 Jan 2020
Banks instant payments hit 1.65m New Year’s Day
Bank customers carried out over 1.65 million transactions on Nigeria Interbank Settlement System (NIBSS) Instant Pay platform on New Year’s Day. Live updates provided by the NIBSS stated that as of…
- 1 Oct 2018
Mobile Drives Payment as Instant Pay Users Hit 11m
There are indications that the country’s electronic payments ecosystem is today driven by mobile means of communications as the number of Instant Pay users in the system is put at 11million with…
- 13 Oct 2021
FirstBank Partners NIBSS for Digital Payment through New Solution
First Bank Nigeria Plc. has gone into partnership with the Nigeria Inter-Bank Settlement System Plc. (NIBSS) on its Nigeria Quick Response (NQR) payment solution. Dr Adesola Adeduntan, chief…
- 1 Dec 2024
UBA Partners NIBSS on NQR Payment Solution
United Bank for Africa (UBA) on behalf of Nigeria Inter-Bank Settlement System (NIBSS), other Banks and financial institutions, has successfully hosted the inaugural Annual General Meeting (AGM) of…
- 10 Mar 2021
NIBSS PLC to Launch NQR Payment Solution for Nigeria
Nigeria Inter-Bank Settlement System Plc (NIBSS), incorporated and owned by all licensed banks including the Central Bank of Nigeria (CBN).), in partnership with all financial service providers is…
- 28 Jun 2026
ACAMB, NIBSS Unite to Drive Faster, Cheaper Digital Payments in Nigeria
Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) has urged banks to deepen the adoption of digital payment channels, including QR code payments, following a…
- 15 Oct 2025
E-Payment Transactions Drop 1.21% To N107.56trn in September
The value of transactions through electronic payment (e-payment) channels in the country fell by 1.21 percent, or N1.32 trillion, to N107.56 trillion in September 2025 from N108.88 trillion in the…
- 7 Oct 2019
e-Payment Transactions in Nigeria Hit N203.35trn In Half Year – CBN
Electronic payment (e-payment) transactions worth N203.35 trillion were carried out by banks between January and June, this year, Central Bank of Nigeria (CBN) half-year e-payment figures have shown.…
- 7 Feb 2024
Transactions on E-payment Platforms in Nigeria Hit N600 trillion in 2023
Electronic payment transactions in Nigeria rose to N600 trillion in 2023, hitting an all-time high as more Nigerians embrace cashless payments. According to the data released by the Nigeria…
- 12 Feb 2025
E-Payment Transactions Down 3.14% to 119.84trn in January - FDC
Transactions through electronic payment (e-payment) channels in the country declined by 3.14 per cent to N119.84 trillion in January 2025 from the N123.72 trillion recorded in the previous month, a…
- 21 Mar 2021
NQR Payment Solution’ll Encourage Contactless Payments – Ecobank MD
Patrick Akinwuntan, managing director, Ecobank Nigeria, has said that the introduction of the Nigeria Quick Response (NQR), code payment solution by the Nigeria Inter-Bank Settlement System (NIBSS),…
- 10 Nov 2025
Nigeria Records First Successful Transaction on National Payment Stack
Nigeria’s digital payment industry has reached a major milestone with the first live transaction completed on the National Payment Stack (NPS), a new digital infrastructure designed to unify and…
- 14 Dec 2022
FCMB Provides Quick Response Payment Platform to Merchants
First City Monument Bank (FCMB) has launched a contactless, cardless, and cashless Quick Response (QR) code to boost instant payments for goods and services. The Bank introduced the payment solution…
- 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…
- 14 Mar 2025
Nigeria’s Cash Payments to Decline 32% by 2030 on Digital Transaction Surge
Nigeria is undergoing a significant shift toward digital payment methods, with cash payments projected to decline by 32 percent by 2030, according to Worldpay’s Global Payment Report 2024 (GPR). This…
- 16 Mar 2022
OnePipe, Fidelity Bank Partner to Launch PayGatePlus to Accelerate Online Payments
OnePipe, Nigerian API and embedded finance startup, has partnered with Fidelity Bank, one of Nigeria’s largest banks with an extensive network of branches to launch PayGatePlus, an enhanced version…
- 3 Oct 2017
CBN Halts SMS Charges on Bulk Transfers
Money deposit banks can no longer take Short Message Service (SMS) charges on bulk bank transfers done through the Real Time Gross Settlement (RTGS). The RTGS is an interbank funds transfer system on…
- 26 Mar 2014
NIBSS, Banks Collaborate on PoS Advocacy
THE Nigeria Interbank Settlement Scheme (NIBSS) and deposit money banks have urged Nigerians to embrace e-payment platforms as the best option for payments of business transactions. The appeal, which…
- 25 Apr 2014
Etisalat Unveils Automated Recharge, Data Purchase Options
Etisalat, Nigeria’s fastest growing and most innovative telecommunication company, has announced the introduction of Automated Recharge (Instant and Mandate options) to enable customers recharge…
- 14 Sept 2022
Banks’ Customers Pay N45.9Bn as Account Maintenance Fees in H1’22
Customers of leading commercial banks in Nigeria paid N45.9 billion as account maintenance fees in the first half of the year (H1’22). According to Vanguard, this represents a 26 per cent…
- 21 Nov 2013
Transactions over NEFT Hit N11.6Tri in 10 Months
Nigerians that make use of Nigeria Inter-Bank Settlement System (NIBSS) Electronic Funds Transfer (NEFT) system to send money transferred over N11.63 trillion between January and October this year,…
- 8 Jan 2024
KPMG Reports 30% Drop in ATM Usage Among Nigerians in 2023
A new report from KPMG reveals that weekly ATM usage among Nigerians dropped from 70% in the past few years to 40% in 2023. The report titled “In Pursuit Value” surveyed customers of Nigerian and…
- 7 Dec 2023
NIBSS Orders Banks to Suspend Opay, Flutterwave, Others from Transfer List
Nigeria Inter-Bank Settlement System (NIBSS) has asked banks to delist Payment Solution Service Providers (PSSPs) Switches and Super Agents from its outward payment or transfer list. Payment Solution…
- 10 Sept 2025
As Schools Resume, Cash-Flow Crunch Is Threatening Private Education, Smarter Fee Collection Could Help
By Ope Adeoye Back-to-school is supposed to be a cheerful rhythm—fresh uniforms, packed lunch boxes, morning assemblies. Yet behind the smiles sits a quieter reality: many school owners are entering…
- 15 Jun 2026
AI-Powered Cyber Threats Put Nigerian Banks on Alert
Nigerian banks are increasingly embracing artificial intelligence (AI) to improve customer service, strengthen fraud detection, and streamline operations. Pic credit....gdprlocal.com However, the…