30 results
- 23 Jun 2014
Banks Lose N159Bn to Cyber Crimes
Nigerian banks lost a total of N159 billion to electronic fraud between 2000 and the first quarter of 2013, Nigerian Inter-Bank Settlements Systems (NIBSS Plc) has said. The organisation, however,…
- 22 Jun 2018
NIBSS says Nigerian Banks Lose N12.30bn to Fraud in 4 Years
The Nigerian Inter-Bank Settlement System (NIBSS), yesterday said the banking industry lost the sum of N12.30 billion to various frauds between 2014 and 2017. Mr. Adebisi Shonubi, Managing Director,…
- 18 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…
- 8 Nov 2013
Banks Lose N159Bn to e-Fraud
Mrs. Christabel Onyejekwe, executive director, Business Development, Nigerian Inter-Bank Settlements Systems, (NIBSS Plc), has said that Nigerian banks have lost a total of N159 billion to…
- 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…
- 17 Feb 2021
Nigerian Banks Lost N5 Billion to Fraud in 9 Months
The Nigeria Inter-Bank Settlement System Plc (NIBSS) has revealed that the banking sector has reported more than N5 billion loss to fraud between January and September 2020. This was contained in the…
- 3 Mar 2025
Nigerian Banks Lose Millions of Naira in Frauds Due to Lack of Live Detection
Nigeria Inter-Bank Settlement System (NIBSS) has revealed that the country’s financial sector lost around N52.26 in 2024 to fraudsters, some of whom enrolled fake identities for Bank Verification…
- 19 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…
- 9 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…
- 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…
- 15 Feb 2019
Cyber Security Myths You Must Forget, To Avoid Being Hacked
Cyber security threats are real. The cyber traitors penetrate every facet of the economy. For instance, the Nigerian Inter-Bank Settlement System, NIBSS), disclosed that the banking industry…
- 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…
- 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,…
- 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…
- 26 Jan 2022
71m Nigerians Operate Bank Accounts without ID- Reps
House of Representatives, Wednesday, alleged that 71 million Nigerians still operate their banks’ accounts without identification. The House has therefore, set up an ad hoc committee, headed by…
- 20 Jul 2015
Nigerian Banks Lose N199Bn to e-Fraud
Nigerian banks have lost a total of N199 billion to e-fraud between 2,000 and 2014, mostly due to inappropriate and reckless management of customers’ data, according to a report by the Leadership…
- 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…
- 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…
- 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 Sept 2012
NIBSS, NIMC to Tackle e-Payment Fraud
The Nigerian Inter-Bank Settlement System (NIBSS) has stated its preparedness to tackle electronic payment fraud as it is necessary to improve electronic payment transactions and engender growth in…
- 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.…
- 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…
- 24 Feb 2021
CIBN, NIBSS Begin Professional Certification Programme on Electronic Payment
The Chartered Institute of Bankers of Nigeria (CIBN) in collaboration with Nigerian Inter-Bank Settlement System Plc (NIBSS) has introduced a Professional Certification Programme on Electronic…
- 10 Aug 2015
NIBSS to Host Developers, Merchants during Hangout
The Nigerian Inter-Bank Settlement System (NIBSS) is set to host developers, merchants and other payment industry players during a ‘NIBSS Developer Hangout’ session. Akinbobola Akinola in a blog post…
- 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…
- 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…
- 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…
- 20 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…
- 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…
- 19 Jul 2022
Over 79m Active Bank Accounts not Linked to BVN – NIBSS
Nigeria Inter-Bank Settlement System (NIBSS) has revealed that about 78.73 million active bank accounts are yet to be linked with the Biometric Verification Number (BVN) despite various measures put…