30 results
- 13 Feb 2013
NEFT, NIP Transactions Hit 40Bn Daily
Daily transactions on Nigerian Electronic Fund Transfer (NEFT) and Nigerian Inter Bank Settlement System Instant Payment (NIP) have hit a record N40 billion meaning that the Central Bank of Nigeria…
- 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…
- 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…
- 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…
- 19 Feb 2019
Withdrawals ahead of Postponed Elections Hit 2.2m
Nigeria Inter-Bank Settlement System (NIBBS) has shown that bank customers carried out about 2.2 million transactions on the NIBBS Instant Pay platform a day to the postponed presidential and…
- 26 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…
- 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…
- 15 Dec 2013
Stakeholders @ Bulkpost Forum Rue Dividend Warrants Conversion
Stakeholders at the Customers’ Forum organized by the Bulkpost venture, an outfit of the Nigeria Postal Service (NIPOST) have frowned at unethical practices in the industry, especially the emergence…
- 1 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…
- 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…
- 2 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…
- 20 May 2025
CAC, NIBSS Unveil Platform for Data Access to Private Firms
Corporate Affairs Commission (CAC) in partnership with the Nigeria Inter-Bank Settlement System (NIBSS) has unveiled a new Application Programming Interface (API) integration system to allow private…
- 21 Jan 2017
Danbatta, NCC Boss to Deliver UNN’s 46th Convocation Lecture
Prof Umar Garba Danbatta, executive vice chairman, Nigerian Communications Commission (NCC), will on Thursday January 26, join the league of eminent Nigerians who deliver the Convocation Lecture of…
- 26 Sept 2024
E-payment Transactions Grow by 86%
E-payment transactions in the country jumped by 86.44 per cent to N566.39tn in the first half of 2024 from N303.60tn in the same period of last year, according to data from the Nigeria Inter-Bank…
- 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…
- 14 Dec 2014
Cisco Warns Banks, Others of Increased Cyber- Attacks
The increasing threats of cybercrime menace may impact more on the activities of banks and other financial institutions, oil and gas and other sectors of the economy, except urgent measures…
- 13 Apr 2025
NIBSS Heads to Court to Recover N4Bn Lost due to System Glitch
Nigeria Inter-Bank Settlement Systems (NIBSS) PLC has approached a Federal high court in Lagos to salvage the sum of N4.1 billion vanished from it coffers due to system glitch. NIBSS filed the suit…
- 3 Dec 2019
Banks Sack 2,929 Workers in 3 Months
Deposit Money Banks in the country sacked 2,929 workers in the third quarter of 2019, according to figures from the National Bureau of Statistics (NBS). The selected banking sector for the third…
- 6 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.…
- 19 Nov 2019
Nigerians Abandon 4m Bank Accounts
Inactive bank accounts rose by four million or 10 percent to 45 million in one year period ending October 31, 2019 from 41 million as at same period of 2018, according statistics released by the…
- 17 Feb 2020
Stokman, OVH Energy Boss Urges Players to Focus on Safety, Customer Experience
Mr. Huub Stokman, Chief Executive Officer (CEO) of OVH Energy Marketing, a licensee of the Oando retail brand, has called on players in the downstream sector to make improvements in customer…
- 8 Nov 2017
Experts Seek Improved e-Channels Security, Banks Lose N237bn In 10 Years
By peter oluka Fraudsters, especially through the electronic payment channels have stolen about N237 billion since 2007 from Nigerian banks. This was made known on Monday by the Niyi Yusuf, country…
- 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,…
- 2 Jun 2019
E-payments Transactions Value Hit N34.02trn in Q1, 2019 — NBS
A total of 557,083,712 electronic-payment transactions valued at N34.02 trillion were recorded in selected banks across the country in the first quarter, 2019, Nigeria’s statistics bureau has said.…
- 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…
- 10 Oct 2013
Navy Declares War on Sea Robbers
Vice Admiral Dele Ezeoba, chief of Naval Staff, has said that waging a war against pirates had become imperative, in view of the enormous challenges their nefarious activities posed to the economic…
- 16 Dec 2016
Finances 101: 5 Sure Signs Your Spouse Is a Financial Risk
Money is very important in any relationship. It is the oil that lubricates your love life. But it shouldn’t be the ultimate. Regardless of this, some people are all about the money even if you drive…
- 29 Jul 2016
Skye Receives N100Bn from Central Bank
Skye Bank has received more than 100 billion naira in liquidity from the central bank since July 4 to shore up its operations, its new managing director said on Friday. Tokunmbo Abiru told reporters…
- 27 Sept 2013
Withdrawal Charges to Apply from Tuesday Next Week
Central Bank of Nigeria (CBN) said it will start applying charges on withdrawals and deposits above N500,000 for individuals and N2 million for corporate bodies from October 2. Mr Tunde Lemo, deputy…
- 14 Jun 2012
NCC Nabs Five for Selling Pre-registered SIM Cards
The enforcement team of the Nigerian Communications Commission (NCC) , Wednesday in Makurdi, Benue State, arrested five persons following allegedly selling and distributing pre-registered SIM Cards,…