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The Nigeria Inter-Bank Settlement System (NIBSS) has officially launched the National Payment Stack (NPS)—a state-of-the-art, ISO 20022-compliant digital payment infrastructure designed to transform Nigeria’s financial ecosystem and drive pan-African interoperability.
Speaking at the unveiling ceremony, Premier Oiwoh, Managing Director and CEO of NIBSS, described the initiative as a major leap forward in unifying Nigeria’s payment landscape and positioning the country as a digital payment hub for the continent.
“This landmark unveiling reaffirms NIBSS’s long-standing commitment to redefining digital payments in Africa. From the launch of NIBSS Instant Payments (NIP)—Africa’s first real-time account-based payment system—to the rollout of AfriGO, Nigeria’s national card scheme, our legacy of innovation continues with NPS,” Oiwoh said.
The National Payment Stack integrates payments, identity, and data within a single intelligent platform, enabling seamless transaction processing, reconciliation, and cross-border interoperability. It also supports instant settlement, including on POS terminals for AfriGO cardholders.
Oiwoh further disclosed that Nigeria is already sharing this innovation with other African nations, noting that NIBSS has begun collaborating with a few countries interested in adopting components of the stack to develop their own national switches.
“With NPS, we are not just transforming Nigeria’s payment infrastructure—we are building a platform capable of empowering the rest of Africa,” he added.
Delivering remarks on behalf of CBN Deputy Governor for Financial System Stability and NIBSS Board Chairman, Philip Ikeazor, Director of Payment Systems Policy, Musa Jimoh, described the NPS as a foundational leap for digital finance.
“This platform lays the groundwork for greater trust, deeper financial inclusion, and the next wave of innovation across the payments sector,” he said.
Also speaking at the event, Lagos State Governor Babajide Sanwo-Olu, represented by Deputy Chief of Staff Sam Ebube, applauded the initiative as a strategic enabler for the financial industry across Africa.
“The National Payment Stack represents the spirit of collaboration and innovation that defines Lagos. It is a competitive advantage for financial institutions and a catalyst for regional growth and inclusion,” Sanwo-Olu said.
The NPS is expected to accelerate Nigeria’s digital economy agenda by providing scalable, interoperable infrastructure that supports not just domestic transactions but also cross-border payment alignment, aligned with global standards such as ISO 20022.
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