30 results
- 28 Jan 2025
CBN Orders NIBSS to Debit Banks over Fraudulent Transactions
Central Bank of Nigeria (CBN), has directed the Nigeria Inter-Bank Settlement System (NIBSS) to debit the settlement accounts of commercial banks that receive fraud proceeds. This is in an effort to…
- 28 Jul 2025
NIBSS: Active Bank Accounts in Nigeria Hit 320m
Nigeria Inter-Bank Settlement System (NIBS) has revealed that the number of active bank accounts in the country increased to 320 million in the first quarter of 2025. NIBSS also announced that the…
- 17 Dec 2017
NIBSS, PFS Launch National Automated Cheque Clearing System
Nigeria Inter-Bank Settlement System (NIBSS) and Precise Financial Systems (PFS) have collaborated to unveil a new National Automated Clearing System (NACS), which allows all the Deposit Money Banks…
- 5 Nov 2016
NIBSS Partners Etisalat, Others to Unveil mCash Payment Solution
In furtherance of the financial inclusion vision of the Central Bank of Nigeria, the Nigeria Inter-Bank Settlement System(NIBSS) in partnership with several banks and four GSM operators, has unveiled…
- 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…
- 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…
- 19 Feb 2025
NIBSS Says about 20m Bank Accounts Dormant in Nigeria
The number of dormant bank accounts in Nigeria is over 19.69 million, according to the industry customer account database released by the Nigeria Inter-Bank Settlement System (NIBBS). Dormant…
- 26 May 2025
Court to Deliver Judgment in NIBSS’ Suit against CBN, Others over BVN Database Management
Federal High Court in Abuja on Monday, fixed July 4 for judgment in the suit filed by the Nigeria Inter-Bank Settlement System (NIBSS’) Plc against the Central Bank of Nigeria (CBN) and others.…
- 8 Dec 2017
NIBSS Partners PFS To Launch National Automated Cheque Clearing System
NIBSS collaborates with PFS to launch National Automated Cheque Cheque Clearing System Nigeria Inter-Bank Settlement System and Precise Financial Systems have collaborated to unveil a new National…
- 2 Nov 2014
E-PPAN, NIBSS Upbeat on Strategic Cashless Nigeria
The Nigeria Inter-Bank Settlement System Plc (NIBSS) and the Electronic Payment Providers Association of Nigeria (E-PPAN) said that through strategic alliances and partnerships across the e-payments…
- 8 Jul 2026
BVN Enrollments Hit 69.55m- NIBSS
Nigeria’s Bank Verification Number (BVN) database expanded to 69.55 million as of July 5 2026 from 69.32 million in June 2026, according to latest data released by the Nigeria Inter-Bank Settlement…
- 6 Apr 2026
NIBSS Says 28 Percent of Nigerians have Registered for BVN
Latest data report from the Nigeria Inter-Bank Settlement System (NIBSS) has pegged Nigeria’s Bank Verification Number (BVN) Database at 67.8 million registrations (27.97% of the country’s…
- 18 Mar 2018
Nigerians Lose Faith in Banks as 2m Shun Services
Despite Central Bank of Nigeria’s (CBN) effort to promote financial inclusion, the Nigeria Inter-Bank Settlement System (NIBSS) banking industry statistics shows that the number of customers using…
- 1 Aug 2018
MTN Nigeria, Other Telcos And Banks Support NIBSS For The Relaunch Of mCash
MTN Nigeria along with sixteen banks and all major mobile telcos, came together for the Nigeria Inter-Bank Settlement Systems’ relaunch of mCASH this week. The event held at The Orchids, Eko…
- 26 Apr 2020
Nigerians Abandon 9.1m BVNs in Banks- NIBSS
Nigeria Inter-Bank Settlement System Plc (NIBSS) has reported that 9.1 million Bank Verification Numbers (BVN) are inactive in various banks nationwide as at December 31, 2019. The report just…
- 2 Oct 2022
CBN and NIBSS Raise over Rising Internet Fraud
Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement System (NIBSS) have expressed worry over the growing menace of Internet fraud in the financial services sector. They wondered why…
- 26 Jan 2023
CBN, NIBSS Unveil ‘Afrigo’ Nigeria’s National Domestic Card Scheme
Central Bank of Nigeria on Thursday officially unveiled the Nigerian National Domestic Card Scheme – AFRIGO, in conjunction with the Nigeria Inter-Bank Settlement Systems (NIBSS) Plc, the Bankers…
- 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…
- 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…
- 6 Apr 2024
NIMC, Others to Unveil National ID Card with Payment Features
National Identity Management Commission (NIMC), in collaboration with Nigeria Inter-bank Settlement System (NIBSS) and the Central Bank of Nigeria (CBN), is set to launch an improved national…
- 30 Jan 2025
Active Bank Accounts Hit 311.6m— NIBSS
Nigeria Inter-Bank Settlement System (NIBSS) has said the number of active bank accounts in Nigeria rose to 311.6 million in December 2024. This data shows that there was a significant increase from…
- 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…
- 19 May 2025
Court to Hear NIBSS Suit Seeking Exclusive Power to Manage BVN Database
Federal High Court in Abuja on Monday fixed 26 May to hear a suit filed by the Nigeria Inter-Bank Settlement System (NIBSS) Plc against the Central Bank of Nigeria (CBN) and others. NIBSS, in the…
- 14 Oct 2021
CBN Asks Banks to Report Dead Customers’ BVN to NIBSS within 24hrs
Central Bank of Nigeria (CBN) has directed banks and other financial institutions to report Bank Verification Number (BVN) of all dead customers to Nigeria Interbank Settlement System (NIBSS) within…
- 13 May 2025
CBN, NIBSS Unveil BVN Platform for Diaspora Nigerians
Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS) on Tuesday inaugurated an innovative digital gateway allows Nigerians in the diaspora to obtain a…
- 26 Feb 2025
Nigerian Banking Sector Fraud Increases Threefold to N53Bn -NIBSS
Money lost to fraud in Nigeria's banking system has nearly tripled over the past five years, according to an analysis released by the Nigeria Inter-Bank Settlement System (NIBSS). NIBSS estimated…
- 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…
- 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,…
- 9 Dec 2024
Dermalog Says Its Biometric System Ensures Bank ID Verification for over 64m Nigerians
Dermalog, German identification systems firm has said that a biometric platform it established for Nigeria nine years ago, in partnership with Central Bank of Nigeria(CBN), now facilitates ID…
- 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),…