NIBSS: E-payment Transactions Rises 86% to N566.39tn in 2024 The Nigeria Inter-Bank Settlement System says E-payment transactions in the country jumped by 86.44 per cent to N566.39tn in the first half of 2024 from N303.60tn in the same period of last year. The data showed July...

Nigeria's Cashless Transactions Hit N611tn - Report The Nigeria Inter-Bank Settlement System has revealed that cashless transactions in the country rose to N611.06tn in 2023. It said this in its report on Wednesday that the payments grew by 54.55 per cent year-on-year from N395.38tn in 2022. NIBSS...

BVN: Over 60.2m Nigerians Now Registered as January 31st deadline Nears - NIBSS The Nigerian Interbank Settlement System, registration data showed that over 60.2 million Nigerians now have a Bank Verification Number (BVN), 21 days before the deadline set by the Central Bank of Nigeria. This...

E-banking Services Gulp N154bn from Bank Customers in Q1, 2023 Customers of nine leading commercial banks paid N154 billion fee for using electronic banking services in the first half of the year (H1’23). Details of the banks’ financial statements for H1’23 showed that the fee represents...

Nigerians to Receive Naira for Diaspora Remittances - CBN The CBN has given directive in a circular no TED/FEM/PUB/FPC/001/004 to all Deposit Money Banks, International Money Transfer Operators, and the general public titled ‘Payout option in naira for receipt of proceeds of diaspora remittances’ signed...

NIBSS Cuts Electronic Transfer Fees - Report The Nigerian Inter-Bank Settlement System has slashed its transaction processing fee for NIBSS Instant Payment from N5 to N3.75k effective July 1, 2023. This was contained in a is letter, dated May 31, 2023, addressed to payment solution service...