NIBSS Directs Banks to Disconnect non-deposit Financial Institutions from Transfer List
Banks have been asked to disconnect Switches, Payment Solution Service Providers, and Super Agents from the Nigeria Inter-Bank Settlement System Instant Payment Outwards System.
The NIBSS disclosed this in a circular dated December 5, 2023,...
E-Banking Transactions Through NIBSS Declined In April
Electronic transactions through the use of Point of Sale terminals (POS) electronic bills payment platform as well as funds transfers through the Nigeria Inter Bank Settlement System (NIBSS) Instant Payment channel reduced in April compared to March this...
E-fraud: A Threat to Youth Digital Inclusion
By Kabir Abdulsalam
In many developing countries, the youth population is the largest, and most productive. It has the potential to drive financial growth and inclusion.
Yet, young people face many barriers that hinder their inclusion in economic activities.
Some challenges...
Cheque Transactions Shrink By 39% As Digital Payments Rise
The volume of cheques cleared by Nigerian banks keep shrinking as bank customers continue to embrace electronic payments for their financial transactions.
From January to September this year, the volume of cheques dropped by 39 per cent...
