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Nigeria

Nigeria mobile money

Scheme name: Nigeria mobile money

IIPS Type: Mobile money

Inclusivity level: Not ranked

Year of establishment: 2013

System owner: NIBSS

Overseer: Central Bank of Nigeria and Nigerian Communications Commission

Operator: NIBSS

Total Participants: 21

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CategoryNigeria mobile money
Geographic reachDomestic
Geographic descriptionNigeria
Scheme governanceNIBSS
Settlement agentCentral Bank of Nigeria
Participants - commercial banks0
Participants - MMOs21
Participants - non-bank PSPs0
Participants - MFIs0
Volumes 2018-
Volumes 2019-
Volumes 2020132,978,782
Volumes 2021284,501,722
Values 20184,408,990,623 USD
Values 201912,236,793,672 USD
Values 20206,599,469,904 USD
Values 202117,453,228,179 USD
Values 202242,014,940,067 USD
GNI423,882,311,506
GNI (%)10%
Interoperability arrangementThird party
Ownership modelJointly owned
Governance TypologyPPP
Messaging standardISO 8583
Types of proxy IDsMobile number
Use of open APIsYes
QR code standard N/A
Pro-poor governanceYes
CB governance involvementYes
Expanded use casesNo
Minimum channel functionalityNo
Minimum use case functionalityYes
All licensed PSPs can participate (all-to-all interoperability)No
RecourseNo
Not-for-lossNo

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