NIP achieves Africa’s top inclusivity payment rating

THE NIBSS Instant Payment System has emerged as the first IPS provider to attain the “Mature” level of inclusivity on AfricaNenda’s Inclusivity Spectrum, a landmark achievement and the highest recognition ever awarded to an African Instant Payment System.

This was disclosed in a statement made available to The PUNCH by the Nigeria Inter-Bank Settlement System on Monday.

The recognition came at the just-concluded State of Inclusive Instant Payment Systems in Africa 2025 Report Launch held in Ezulwini, Eswatini.

The SIIPS 2025 conference convened approximately 200 delegates, including African Central Bank Governors, global instant payment system operators, fintechs, regulators and the media, to explore the latest innovation, policy levers and capacity-building pathways that will advance Africa’s digital payments ecosystem.

The award to NIP, and NIBSS by extension, was based on a rigorous evaluation grounded in AfricaNenda’s three-tier framework (Basic → Progressed → Mature), which assesses IPS across functional inclusion (channels, use cases), governance (open-loop, participation by non-banks, central bank oversight) and user-centric criteria (low cost, consumer recourse, transaction availability).

NIP’s performance was further bolstered by high inclusion levels for indirect participants (banks, fintechs, and non-banks), robust dispute-resolution mechanisms and consumer-awareness loops, real-time settlement, 24/7 digital access, simplified onboarding for low-income users, and a strong technology foundation enabling consistently available service execution and high throughput.

“The award recognises not only a system but a vision of inclusive growth,” said Managing Director/Chief Executive Officer of NIBSS, Premier Oiwoh. “It reflects our ongoing commitment to deliver payments infrastructure that is faster, affordable, safer, interoperable and accessible to all Nigerians—and indeed to partner with the continent as we define the future of payments in Africa.”

Over the past 14 years, the NIBSS Instant Payment platform has not only transformed Nigeria’s payment landscape but also distinguished itself globally as the first instant payment system of its kind, a pioneering model whose learnings, architecture and use cases continue to inform and inspire payment modernisation efforts across markets.

The PUNCH reports that NIBSS recently developed the National Payment Stack, Africa’s first ISO 20022–compliant national payment infrastructure, engineered to deliver enhanced security, true interoperability, richer data exchange, intelligent routing, instant settlement and expanded multi-rail payment capabilities.

Already, the first successful transaction on the platform has been recorded. Designed as the next evolution of instant payments in Nigeria, NPS will ultimately replace the existing NIP platform.

The NIBSS, designated a critical national infrastructure by the Federal Government of Nigeria, was established by the Central Bank of Nigeria and licensed financial institutions to enhance interoperability, efficiency and innovation within the nation’s financial services sector.

Serving as the shared-service infrastructure for the Nigerian financial ecosystem, NIBSS operates critical national platforms, including the Nigeria Central Switch, the Bankers’ Clearing House System, the Bank Verification Number System and the national domestic card scheme, AfriGO.