NIBSS PAYMENT PLATFORM SURPASSES 100 MILLION TRANSACTIONS

The Nigeria Inter-Bank Settlement System has announced that its National Payment Stack has processed more than 100 million successful transactions since its deployment.

NIBSS said the milestone was reached as of September 25, 2026, highlighting the growing use of the payment infrastructure across Nigeria’s financial services ecosystem.

The National Payment Stack is built around the ISO 20022 global messaging standard, which supports interoperability, faster processing and the sharing of richer transaction data for transparency, fraud monitoring and regulatory reporting.

According to NIBSS, the payment infrastructure is being used by commercial banks, microfinance banks, fintech companies, mobile money operators and payment service providers.

The organisation said the unified payment rail is designed to reduce integration challenges and lower the cost of providing payment services while supporting innovation across the financial sector.

The platform also provides digital payment access for small businesses, merchants, agents and people who are underserved by traditional banking services.

NIBSS Managing Director and Chief Executive Officer, Premier Oiwoh, said the 100 million-transaction milestone demonstrated the collective efforts of stakeholders to strengthen Nigeria’s payment infrastructure.

The organisation said it would continue working with the Central Bank of Nigeria and other financial institutions and payment providers to develop a secure, inclusive and globally competitive payment system.

The milestone comes amid continued growth in Nigeria’s digital payments ecosystem and efforts to improve interoperability across financial service providers.