November 17, (THEWILL) — At the just-concluded State of Inclusive Instant Payment Systems (SIIPS) in Africa 2025 Report Launch held in Ezulwini, Eswatini, on November 12–14, 2025, Nigeria emerged as the winner.
This followed the recognition of Nigeria Inter-bank Settlement System (NIBSS) as Africa’s first Instant Payment System (IPS) provider to attain the “Mature” level of inclusivity on the AfricaNenda’s Inclusivity Spectrum; a landmark achievement and the highest recognition ever awarded to an African Instant Payment System.
The SIIPS 2025 conference convened approximately 200 delegates, including African Central-Bank Governors, Global Instant-Payment-System (IPS) 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 conference agenda featured key sessions on “Advancing IPS Inclusivity” and “From Access to Impact: IPS Inclusivity & the Payments Layer in Digital Public Infrastructure (DPI).”
The award to NIP and NIBSS by extension was based on a rigorous evaluation grounded in AfricaNenda’s three-tiered 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 performance was further bolstered by the following;
High inclusion levels for indirect participants (Banks, Fintechs, Non-Banks)
Robust dispute-resolution mechanisms and consumer awareness loops
Real-time settlement, digital access 24/7 and simplified onboarding for low-income users
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 Premier Oiwoh, Managing Director/CEO of NIBSS. “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 (NIP) platform has not only transformed Nigeria’s payment landscape but also distinguished itself globally as the first instant payment system of its kind in the world; a pioneering model whose learnings, architecture and use cases continue to inform and inspire payment modernisation efforts across markets.
Building on this legacy, NIBSS has developed the National Payment Stack (NPS); 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.
Designed as the next evolution of instant payments in Nigeria, NPS will ultimately replace the existing NIP platform, ushering in a new era where the future of payments is smarter, faster, more secure and even more inclusive.
NIBSS also expresses profound appreciation to the Central Bank of Nigeria (CBN) for its unwavering strategic direction, regulatory stewardship and high standards of operational excellence, which have consistently shaped our pathways to innovation and industry impact.
The CBN’s steadfast guidance has not only strengthened NIBSS governance and infrastructure efficiency but has also enabled initiatives that deepen financial inclusion, fortify ecosystem resilience and set new benchmarks for the African payments landscape.
Notably, the SIIPS recognition is benchmarked against global standards for payment-system excellence; comparable to international recognitions by institutions such as the World Bank, IMF and BIS that highlight interoperability, security and inclusivity as the core indicators of a world-class payment infrastructure.
As NIBSS continues to anchor Nigeria’s digital payment transformation, this milestone stands as a shared victory for the Banks, Fintechs, Payment Service Providers and other Financial Institutions already unified under the NIP ecosystem.
“Together, we have built a platform that powers millions of seamless, real-time transactions daily, driving trust, innovation and financial inclusion across the nation,” the company said.
The AfricaNenda recognition not only validates NIP’s maturity and impact but also cements Nigeria’s leadership as a regional payment powerhouse, setting a gold standard for the continent’s digital future.
The Nigeria Inter-Bank Settlement System Plc (NIBSS), a critical National Infrastructure as designated by the Federal Government of Nigeria, was established by the CBN 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 (BVN) System and the National Domestic Card Scheme – AfriGO.
Through its secure, world-class payment infrastructure and value-added services, NIBSS enables instant, reliable and inclusive financial transactions, driving digital transformation and supporting the sustained growth of Nigeria’s digital economy.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
