ACAMB Advocates for QR Code Payments at NIBSS Meeting

The Association of Corporate Affairs Managers of Banks (ACAMB) visited the Nigeria Inter-Bank Settlement System (NIBSS) in Lagos, where they advocated for the wider adoption of QR code payments and the strengthening of payment systems. ACAMB President Jide Sipe emphasized the importance of collaboration among banks to enhance digital payment channels and address challenges in the industry, particularly following recent service disruptions.

NIBSS Managing Director and Chief Executive Officer Premier Oiwoh highlighted the significance of reliable digital payment infrastructure for economic inclusion. He noted that NIBSS has been committed to ensuring seamless payment systems since its establishment in May 2019.

Oiwoh discussed the success of the Nigeria Instant Payment (NIP) system, which has positioned Nigeria among the top payment systems globally. The meeting also addressed the need for banks to adopt innovative payment solutions, such as the Nigeria Quick Response (NQR) code, which simplifies transactions and reduces costs for merchants and customers.