Tag
NIBSS
The number of active bank accounts in Nigeria increased to 151 million in 2022, a 13% growth when compared with 133.5 million active bank accounts recorded in 2021.
Nigeria Inter-Bank Settlement System (NIBSS) experienced downtime, leaving bank customers lamenting over transfer errors and failed transactions.
NIBSS has revealed that licensed mobile money operators including Opay, Palmpay, and 15 others processed transactions valued at N46.6 trillion in 2023.
Electronic payment transactions in Nigeria rose to N600 trillion in 2023, hitting an all-time high as more Nigerians embrace cashless payments.
Registration for the Bank Verification Number (BVN) increased to 60.2 million as of January 10, 2024.
According to a circular from the Nigeria Interbank Settlement System Plc (NIBSS), banks in Nigeria have been directed to take down every non-deposit-taking financial institution from their NIP fund transfer channels.
President Bola Tinubu on Wednesday made some new appointments in an industry-wide shakeup that saw the exits of three executives of parastatals under the Ministry of Communications, Innovation and Digital Economy.
The number of bank account owners in Nigeria with Bank Verification Number (BVN) increased to 58.7 million as of September 12, 2023.
Olugbenga Agboola has said that Nigeria could leverage the NIBSS platform and the NIN to build a replica of the India Stack for financial inclusion.
Some Nigerians have pushed forward ideas that will transform the Nigeria Postal Service (NIPOST) into an entity that operates in a manner similar to the Nigerian Inter-Bank Settlement System (NIBSS) and become a powerhouse to drive e-commerce growth.
The Nigeria Inter-Bank Settlement System (NIBSS) has stated that banks in the country have lost about N9.5 billion so far in 2023.
MTN’s MoMo PSB recorded a 1.2 million increase in its active wallet users in Q1, bringing its total active wallets to 3.2 million.