NIBSS

December 21, (THEWILL) — The renewed vigour by financial technology (fintech) firms to penetrate the nooks and crannies of Nigeria, especially the countryside, has tremendously reconfigured the nation’s payment system. And this has a far-reaching impact on the economy...

November 23, (THEWILL) — Recently, the global economy has focused on the Nigeria Inter-Bank Settlement System (NIBSS). This attention stems from the energy and dedication the organisation has shown in promoting the digital payment system across Africa. NIBSS offers the...

November 17, (THEWILL) — At the just-concluded State of Inclusive Instant Payment Systems (SIIPS) in Africa 2025 Report Launch held in Ezulwini, Eswatini, on November 12–14, 2025, Nigeria emerged as the winner. This followed the recognition of Nigeria...

November 13, (THEWILL) — Nigeria’s Inter-Bank Settlement System (NBISS) has emerged as the only African payment system to achieve a mature inclusivity level. This was announced at the launch of the State of Instant Payment Systems (SIIPS) 2025 report in...

November 10, (THEWILL) — Approximately five months following the launch of the National Payment Stack (NPS) by the Nigeria Inter-Bank Settlement System (NIBSS) in June 2025, this innovative digital payment infrastructure has achieved its inaugural successful transaction – a...

October 06, (THEWILL) — The Managing Director/Chief Executive Officer of the Nigeria Interbank Settlement System (NIBSS), Premier Oiwoh, has announced plans to eliminate transfer fees on the NIBSS Instant Payment (NIP) platform to accelerate Nigeria’s transition from a cash-heavy...

August 03, (THEWILL) — The transformation initiatives at the Nigeria Inter-Bank Settlement System (NIBSS) towards revolutionising the country’s payment landscape is central to the expansion of the economy driven by the services sector. Nigeria’s economy expanded by 3.13 percent year-on-year...

July 25, (THEWILL) — Commercial banks in Nigeria closed 29.4 million accounts as of March 2025, according to the latest report by the Nigerian Interbank Settlement System (NIBSS). The figure represents a sharp year-on-year increase of 30.43 per cent from...

July 05, (THEWILL) — The Federal High Court in Abuja has affirmed the exclusive statutory authority of the Nigeria Inter-Bank Settlement System Plc (NIBSS) to maintain and manage the Bank Verification Number (BVN) database in Nigeria, in accordance...

June 23, (THEWILL) – The Nigeria Inter-Bank Settlement System (NIBSS) on June 17, 2025, officially launched the National Payment Stack (NPS), a next-generation payment infrastructure created towards revolutionising the future of payment across the continent.  The initiative comes at...