The NIBSS Instant Payment System (NIP) has become the first African instant payment service to achieve the “Mature” level of inclusivity on AfricaNenda’s Inclusivity Spectrum, marking the highest recognition ever awarded to a payment system on the continent. The announcement was made public by the Nigeria Inter-Bank Settlement System (NIBSS) on Monday, highlighting the milestone as a historic achievement for African digital payments.
The recognition was presented during the State of Inclusive Instant Payment Systems in Africa 2025 (SIIPS 2025) Report Launch, held in Ezulwini, Eswatini. The event brought together around 200 delegates, including African Central Bank Governors, regulators, global instant payment operators, fintech leaders, and media representatives. Participants convened to discuss emerging innovations, policy levers, and capacity-building strategies aimed at advancing Africa’s digital payments ecosystem.
NIP’s award was based on AfricaNenda’s rigorous three-tier framework,Basic , Progressed Matur ewhich evaluates instant payment systems across three dimensions: functional inclusion (channels, use cases), governance (open-loop systems, participation by non-banks, central bank oversight), and user-centric factors (low cost, consumer protection, transaction availability).
The NIP platform distinguished itself in several areas. High inclusion for indirect participants, such as banks, fintechs, and non-bank entities, contributed significantly to its rating. Its robust dispute-resolution mechanisms, comprehensive consumer-awareness initiatives, real-time settlement, 24/7 digital access, and simplified onboarding for low-income users were pivotal. The platform’s strong technological foundation ensures consistent service execution, high transaction throughput, and broad accessibility, reinforcing its position as a leading inclusive payment system.
“This award recognises not just a system but a vision of inclusive growth,” said NIBSS Managing Director/CEO Premier Oiwoh. “It reflects our commitment to providing payment infrastructure that is fast, affordable, secure, interoperable, and accessible to all Nigerians. We are proud to partner with the continent as we shape the future of payments in Africa.”
Over the past 14 years, the NIP platform has revolutionised Nigeria’s payment landscape, establishing itself as a global pioneer among instant payment systems. Its architecture, design, and operational learnings have influenced payment modernisation strategies worldwide. In line with this vision, NIBSS recently introduced the National Payment Stack (NPS), Africa’s first ISO 20022-compliant national payment infrastructure, designed to enhance security, interoperability, richer data exchange, intelligent transaction routing, instant settlement, and expanded multi-rail payment capabilities. The first successful transaction on the platform has already been recorded, with NPS intended to replace the existing NIP system over time.
Designated as a critical national infrastructure by the Federal Government of Nigeria, NIBSS was established by the Central Bank of Nigeria alongside licensed financial institutions to improve interoperability, efficiency, and innovation across the country’s financial sector. Serving as the backbone of Nigeria’s digital financial ecosystem, NIBSS operates essential national platforms, including the Nigeria Central Switch, the Bankers’ Clearing House System, the Bank Verification Number System, and the AfriGO national domestic card scheme.
Through these initiatives, NIBSS continues to drive financial inclusion and digital payment innovation, positioning Nigeria as a continental leader in creating accessible, secure, and interoperable payment systems that benefit both individuals and businesses across Africa.
