NIBSS Leads African Payment Systems to Mature Inclusivity Level

The Nigerian Inter-Bank Settlement System (NIBSS) has become the sole African payment system to achieve a mature inclusivity level, with the launch of the State Instant Payment System (SIIP) by 2025. Recognized by the Africanenda Foundation in partnership with the Central Bank of Eswatini, World Bank, and UN ECA, Nigeria received accolades for its progress in the instant retail payment system.

NIBSS's CEO, Premier Oiwoh, highlighted the milestone as groundbreaking, emphasizing the significant reduction in industry disputes. This achievement positions Nigeria at the forefront of payment system maturity in Africa.