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The National Payment Stack (NPS), operated by the Nigeria Inter-Bank Settlement System (NIBSS) Plc, has surpassed 100 million successful transactions, underscoring the growing adoption of digital payments in Nigeria.
NIBSS said the milestone was reached as of Friday, September 25, 2026, describing it as a major step in the country’s drive to modernise its payment system and deepen financial inclusion.
The NPS is built around the ISO 20022 global messaging standard, which enables financial institutions to exchange richer and more structured payment information.
According to NIBSS, the standard enhances interoperability, improves straight-through processing and provides better data for transparency, fraud monitoring and regulatory reporting.
The payment infrastructure serves commercial banks, microfinance banks, fintech companies, mobile money operators and other payment service providers through a unified payment rail.
NIBSS said the platform has helped reduce integration challenges and costs for financial institutions while supporting faster innovation in payment services.
It added that the impact of the NPS extends to small businesses, merchants, agents and people outside the formal banking system by providing faster, more reliable and secure access to digital financial services.
The company said the platform’s security architecture and end-to-end protection were also strengthening confidence in Nigeria’s payment ecosystem.
Commenting on the milestone, NIBSS Managing Director/Chief Executive Officer, Premier Oiwoh, said the achievement demonstrated the collective effort to build a world-class payment system for the country.
“Surpassing 100 million transactions on the National Payment Stack is a validation of our collective resolve to build a world-class payment system for Nigeria,” Oiwoh said.
“With ISO 20022 compliance at its core, NPS is not just processing transactions; it is securing livelihoods, empowering the last mile, and strengthening the resilience of our entire financial ecosystem.”
NIBSS said it would continue to work with the Central Bank of Nigeria, deposit money banks, microfinance banks, payment service banks, fintechs and other stakeholders to develop a secure, inclusive and globally competitive payments system.
