The Nigeria Inter-Bank Settlement System (NIBSS) has officially launched the National Payment Stack (NPS), a next-generation digital payment infrastructure that complies with ISO 20022 standards and is poised to redefine the future of interoperable and cross-border payments in Nigeria and across Africa.
Speaking at the unveiling ceremony, Premier Oiwoh, Managing Director and CEO of NIBSS, described the new platform as a unified, intelligent ecosystem that integrates payments, identity, and data for streamlined, real-time transactions.
“This landmark unveiling reinforces NIBSS’ commitment to redefining digital payments in Africa and building on a legacy of innovation that began over a decade ago with the introduction of NIBSS Instant Payments (NIP); Africa’s first real-time account-based digital payment solution,” Oiwoh stated.
He highlighted NIBSS’ track record of pioneering innovation, referencing milestones like the launch of AfriGO, Nigeria’s domestic card scheme, and the recent introduction of instant settlement on POS transactions for AfriGO cardholders.
With the introduction of NPS, NIBSS now provides a cutting-edge infrastructure that enhances how payments are initiated, processed, and reconciled, while offering robust support for cross-border transactions.
“The National Payment Stack positions Nigeria not just as a fintech leader but as a solution provider to other African countries looking to build their own payment switches,” Oiwoh added.
The platform is expected to boost financial inclusion, strengthen digital commerce, and solidify Nigeria’s reputation as a trailblazer in payment innovation across the continent.
