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Nigeria Inter-Bank Settlement System

20 Sep 2019
Despite improvements in the nation’s payments system landscape and increasing rate of adoption of alternative payment channels, Nigerians are still deep in their preference for cash transactions.
21 Mar 2019
Nigeria Inter-Bank Settlement System (NIBSS), banks, and other payment service providers, Tuesday, agreed to effect changes under four strategic areas bothering on transactions time-out, reversals, capacity building, and monitoring.   The four key areas, which will encompass 14-point notes, by The Guardian’s estimation, will provide immediate and sustainable solutions to the recent challenges of dispense…
18 Mar 2019
The deluge of dispense error and non-reversal of failed transactions at the Point Of Sale (POS) terminal and ATM, have been largely attributed to the Nigeria Inter-Bank Settlement System (NIBSS). The blame is coming as the platform of the institution that is strategic for clearing and settlement of inter-bank transfers and payments, has been reportedly…
4 Feb 2019
The Association of Bureaux De Change Operators of Nigeria (ABCON) will launch its live run automation portal, in Lagos, tomorrow, a process that started since 2016. The portal’s operations are expected to automate all Bureaux De Change (BDCs), with those of Nigeria Inter-bank Settlement System (NIBSS), Nigeria Financial Intelligence Unit (NFIU) and Central Bank of…
4 Jan 2019
Stakeholders in the telecommunications ecosystem have urged the Nigerian Communication Commission (NCC) to establish Interconnect Settlement Scheme to address indebtedness in the industry. This is against the backdrop of notices by the Commission to have some networks disconnected for inability to settle interconnect and infrastructure debts. They cited example of Nigeria Inter Bank Settlement System…
29 Oct 2018
Data and Marketing Technology Company, Terragon Group, Africa, has unveiled a platform that can help banks bridge financial inclusion gap in Nigeria.   The new platform called “Adrenaline”, is an Artificial Intelligence solution, which is right at the heart of banks’ digital transformation, required to meet Nigeria’s financial inclusion target.   It draws on the…

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