30 results
- 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…
- 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…
- 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…
- 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…
- 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…
- 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…
- 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…
- 25 May 2026
NIBSS Blames System Glitch for Disappearance of N13.66Bn, Seeks Court Nod for Recovery
Nigeria Inter-Bank Settlement System Plc (NIBSS) has sued 19 commercial and microfinance banks, over N13.66 billion allegedly lost to unauthorized transfers following a major glitch on its payment…
- 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…
- 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…
- 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…
- 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…
- 26 Feb 2019
Accounts Linked to BVN Hit 37m
Nigeria Inter-Bank Settlement System Plc (NIBSS) records have shown that about 36.8 million bank accounts have been linked to the Bank Verification Number (BVN) as of February 17 this year. …
- 5 Jun 2019
NIBSS Appoints Oiwoh CEO
Nigeria Inter-Bank Settlement System Plc (NIBSS) has appointed Premier Oiwoh, as the its chief executive officer (CEO) after its former chief, Ade Shonubi, resigned to take up a new role as deputy…
- 16 Feb 2021
Banks Lose over N5Bn to Cyber Fraud in 9 Months- NIBSS
The Nigeria Inter-Bank Settlement System Plc (NIBSS) has said that over N5bn was lost to fraudulent activities in the Nigeria Banking sector from January to September 2020. According to the NIBSS…
- 31 Oct 2018
NIBSS Donates to Public Schools, Reiterates Support for Education
Nigeria Inter-Bank Settlement System (NIBSS) Plc, has reaffirmed its commitment to supporting the nation’s educational system as one of its focus for Corporate Social Responsibility (CSR) Initiative.…
- 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…
- 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),…
- 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…
- 5 Aug 2014
NIBSS, IKEDC Develop Online Payment Platform
The Nigeria Inter-Bank Settlement Systems (NIBSS) Plc, has helped in creating an online platform to facilitate convenient payment options for Ikeja Electricity Distribution Company (IIKEDC) post-paid…
- 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…
- 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…
- 17 Dec 2012
NIBSS Introduces ADD, e-BILLLspay
Nigeria Inter-Bank Settlement System (NIBSS) has introduced two new bill payment systems; the Automated Direct Debit (ADD) and NIBSS e-BILLLspay in line with the cashless policy aimed at reducing the…
- 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,…
- 18 Jul 2015
NIBSS, Global Tech Giants Partner on Cashless Policy
Nigeria’s cashless policy agenda received a boost recently as the Nigeria Inter-Bank Settlement Systems PLC (NIBSS), in conjunction with two global technology giants, Samsung and International…
- 24 Jun 2015
Banks Capture 14m Customers BVN
About 14 million bank customers nationwide had enrolled for the Bank Verification Number (BVN), according to Nigeria Inter-Bank Settlement System (NIBSS) Plc. BVN is for biometric registration of all…
- 3 Dec 2017
Interoperability Hobbles Mobile Money Growth 4 Years After CBN Directive
By Chike Onwuegbuchi Over four years after Central Bank of Nigeria (CBN) issued a directive to mobile money operators and Nigeria Inter-Bank Settlement System (NIBSS) to achieve interoperability…
- 21 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,…
- 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…
- 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…