Nigeria’s foremost payment infrastructureprovider, the Nigeria Inter-Bank Settlement System (NIBSS) PLC, has announced that its National Payment Stack (NPS) surpassed 100 million successful transactions lastFriday, marking a major milestone in Nigeria’s paymentsmodernisation journey.
Built on full compliance with the ISO 20022 global messaging standard, the NPSprovides a unified, future-ready foundation for seamless, data-rich and securepayments.
The ISO 20022 compliance ensures enhanced interoperability, improvedstraight-through processing, and richer data for better transparency, fraud monitoring and regulatory reporting across the ecosystem.
More than a volume milestone, the achievement reflects the transformative impact ofthe NPS across the entire financial institutions ecosystem – from commercial banks,microfinance banks, fintechs and mobile money operators to payment serviceproviders. By offering a single, standardised rail, the NPS has significantly reducedintegration complexity, lowered cost-to-serve and accelerated innovation in payments.
Crucially, the benefits extend to the last mile. The NPS is empowering smallbusinesses, merchants, agents and unbanked citizens with faster, more reliable andsecure access to digital financial services, thereby driving economic empowerment,job creation and inclusive growth. Its robust security architecture and end-to-endprotection further strengthen trust in the nation’s payment system.
Commenting on the milestone, the Managing Director/CEO of NIBSS, Premier Oiwoh,said: “Surpassing 100 million transactions on the National Payment Stack is avalidation of our collective resolve to build a world-class payment system for Nigeria.
