Select Countries and Regions

Nigeria

NIBSS Instant Payment (NIP)

Scheme name: NIBSS Instant Payment (NIP)

IIPS Type: Cross-domain

Inclusivity level: Basic

Year of establishment: 2011

System owner: NIBSS

Overseer: Central Bank of Nigeria

Operator: NIBSS

Total Participants: 450

Back to map
CategoryNIBSS Instant Payment (NIP)
Geographic reachDomestic
Geographic descriptionNigeria
Scheme governanceNIBSS Board of Directors
Settlement agentCentral Bank of Nigeria
Participants - commercial banks225
Participants - MMOs7
Participants - non-bank PSPs18
Participants - MFIs200
Volumes 2018729,440,000
Volumes 20191,145,790,000
Volumes 20202,033,552,000
Volumes 20213,473,192,000
Values 2018193,706,375,306 USD
Values 2019253,438,405,636 USD
Values 2020298,304,126,098 USD
Values 2021522,952,873,339 USD
Values 2022746,565,392,271 USD
GNI423,882,311,506
GNI (%)176%
Interoperability arrangementThird party
Ownership modelJointly owned
Governance TypologyPPP
Messaging standardProprietary
Types of proxy IDsBank verification number; QR code
Use of open APIsYes
QR code standard N/A
Pro-poor governanceNo
CB governance involvementYes
Expanded use casesNo
Minimum channel functionalityYes
Minimum use case functionalityYes
All licensed PSPs can participate (all-to-all interoperability)Yes
RecourseNo
Not-for-lossNo

African IPS Map

Selected Country
Live IPS
IPS in development
No data
Select region to view data