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NIBSS
Five of Nigeria’s lenders, led by Zenith and GTCO, collectively poured N126.8 billion into information technology (IT) in the first half of 2025 in an aggressive push to strengthen digital banking infrastructure and boost cybersecurity.
Cybersecurity experts have warned that Nigerian banks must urgently invest more in defences as cybercrime continues to drain billions from the sector.
Africa is undergoing a digital transformation, marked by rising mobile phone adoption even in remote regions, rapid fintech innovation, and the steady growth of digital public infrastructure such as interoperable payment systems and digital ID frameworks.
The latest data released by the Nigeria Inter-Bank Settlement System (NIBSS), has revealed that the number of active bank accounts in Nigeria rose to 320 million in March this year.
Electronic payment transactions in Nigeria rose to N284.9 trillion in the first quarter of 2025 as more Nigerians go cashless.
The Central Bank of Nigeria (CBN) has dispelled recent rumours circulating on social media about the introduction of...
The Federal High Court in Abuja on Friday affirmed the legality of the Nigeria Inter-Bank Settlement System Plc’s (NIBSS) management of the Bank Verification Number (BVN) database across Nigeria, in line with the Central Bank of Nigeria (CBN) Act and other relevant banking laws.
Nigeria’s Buy Now, Pay Later (BNPL) market is projected to grow by over 83% in the next six years, reaching a market value of $2.61 billion by 2030, up from $1.42 billion in 2024.
The Chief Executive Officer of AfricaNenda Foundation, Dr. Robert Ochola, has said that over 400 million Africans remain...
The Central Bank of Nigeria (CBN), in partnership with the Nigeria Inter-Bank Settlement Systems (NIBSS), recently launched the Non-Resident Bank Verification Number (NRBVN), an initiative tailored towards addressing identified concerns that affect diasporas’ remittances.
Since its launch was first announced in Washington D.C. last year by the Central Bank of Nigeria (CBN) Governor, Mr. Olayemi Cardoso, the Non-Resident Bank Verification Number (NRBVN) initiative has continued to gain traction among Nigerians in the diaspora.
The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), has officially launched the Non-Resident Bank Verification Number (NRBVN) platform.