Nigeria’s payment infrastructure provider, the Nigeria Inter-Bank Settlement System (NIBSS) Plc, has announced that its National Payment Stack (NPS) has surpassed 100 million successful transactions.
NIBSS said the milestone was reached as of Friday, September 25, 2026, marking a significant development in the country’s payment infrastructure and the adoption of digital financial services.
The National Payment Stack was developed as a unified payment infrastructure connecting different participants within Nigeria’s financial ecosystem. These include commercial banks, microfinance banks, fintech companies, mobile money operators and other payment service providers.
The platform is built around the ISO 20022 global messaging standard, which allows financial institutions to exchange richer and more structured payment information. According to NIBSS, this supports interoperability, faster processing, improved transparency, fraud monitoring and regulatory reporting.
Platform expands digital payments
NIBSS said the NPS is designed to reduce the complexity involved in integrating different payment systems while lowering the cost of providing payment services.
The platform also provides a single payment rail through which businesses and financial institutions can develop and offer different digital payment services.
Small businesses, merchants and agents are among the groups expected to benefit from the infrastructure. NIBSS said the system can also improve access to digital financial services for people who are outside the formal banking system.
The milestone comes shortly after the NPS recorded 26.55 million transactions worth ₦1.4tn across 48 participating institutions during its early operational phase in August.
The rapid increase in transaction volume highlights the continued expansion of electronic payments in Nigeria.
NIBSS highlights financial inclusion
Commenting on the achievement, NIBSS Managing Director and Chief Executive Officer Premier Oiwoh said crossing the 100-million transaction mark demonstrated the efforts being made to build a modern payment system for Nigeria.
NIBSS said the infrastructure is intended to strengthen the resilience of the country’s financial ecosystem while supporting innovation and financial inclusion.
The organisation also said it would continue working with the Central Bank of Nigeria (CBN), deposit money banks, microfinance banks, payment service banks, fintech companies and other stakeholders.
The collaboration is expected to support the development of a payment system that is secure, inclusive and capable of supporting Nigeria’s growing digital economy.
As electronic payments become increasingly important for businesses and consumers, the expansion of the National Payment Stack could further increase the use of digital transactions across Nigeria.
