NIBSS NIP becomes Africa’s first ‘mature’ instant payment system

Nigeria has achieved a major victory on the continental stage as the NIBSS Instant Payment (NIP) platform was declared Africa’s first Instant Payment System (IPS) to attain the “Mature” level on AfricaNenda’s IPS Inclusivity Spectrum, an unprecedented recognition and the highest honour ever awarded to an IPS on the continent.

The announcement came during the State of Inclusive Instant Payment Systems (SIIPS) Africa 2025 Report Launch, held from November 12 to 14 in Ezulwini, Eswatini. The event brought together more than 200 senior delegates, including African central-bank governors, global IPS operators, fintech innovators, regulators and media professionals, all focused on advancing the continent’s digital payments ecosystem.

NIP’s achievement stems from a rigorous evaluation based on AfricaNenda’s three-tier inclusivity framework, which assesses instant payment systems on functional inclusion, governance, and user-centric design. Nigeria’s NIP earned top marks for its wide-ranging accessibility to banks, fintechs and non-banks; its robust and transparent dispute-resolution structure; always-on real-time availability; simplified onboarding for low-income users; and its strong technology foundation capable of supporting high-volume, high-speed transactions.

Speaking on the recognition, Premier Oiwoh, Managing Director/Chief Executive Officer NIBSS, noted that the award was both a validation of Nigeria’s vision and a commitment to inclusive economic growth. He emphasized that NIBSS remains dedicated to delivering instant payments that are faster, safer, more affordable, interoperable and accessible to every Nigerian while contributing meaningfully to the evolution of payments across Africa.

Over the past 14 years, NIP has transformed Nigeria’s payments landscape, earning global distinction as the first instant payment system of its kind anywhere in the world. Its architecture has served as a blueprint for payment modernization in several markets, reinforcing Nigeria’s role as a pioneer in digital financial infrastructure.

Building on this legacy, NIBSS has developed the National Payment Stack (NPS), Africa’s first ISO 20022–compliant national payment infrastructure. NPS introduces enhanced security, richer data exchange, intelligent routing, instant settlement and multi-rail support, features that will eventually succeed the current NIP platform and usher in a new era of smarter, more secure and highly inclusive digital payments for Nigeria.

NIBSS extended special appreciation to the Central Bank of Nigeria (CBN), whose strategic policy leadership and regulatory stewardship have been instrumental in strengthening governance, deepening financial inclusion and elevating Nigeria’s payment infrastructure to global standards.

The SIIPS recognition is benchmarked against international best practices upheld by institutions such as the World Bank, IMF and BIS, reinforcing NIP’s status as a world-class model of interoperability, security and inclusivity.