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Nigeria has strengthened its position as Africa’s digital payments leader, with the NIBSS Instant Payment (NIP) platform becoming the first Instant Payment System on the continent to attain the “Mature” rating on AfricaNenda’s IPS Inclusivity Spectrum.
The top-tier classification—unveiled during the launch of the State of Inclusive Instant Payment Systems (SIIPS) in Africa 2025 Report in Ezulwini, Eswatini—marks the highest achievement across the framework’s three categories: Basic, Progressed and Mature. The event drew around 200 industry leaders, including central bank governors, payments regulators, IPS operators, fintech innovators and global development partners.
According to NIBSS Head of Corporate Communications, Lilian Phido, the Mature rating reflects NIP’s robust governance standards, deep ecosystem inclusivity, high system reliability and user-centred experience. Key strengths highlighted include the platform’s multi-stakeholder participation model—spanning banks, fintechs and other non-bank institutions—real-time settlement capabilities, strong dispute-resolution processes, seamless onboarding for underserved groups and a resilient technology backbone supporting consistently high service uptime.
Premier Oiwoh, Managing Director/CEO of NIBSS, said the recognition validates Nigeria’s long-term commitment to building fast, secure, affordable and interoperable digital payment rails that support inclusive economic development. He emphasised that the achievement represents a shared vision across regulators, operators and ecosystem partners.
For more than 14 years, NIP has played a transformative role in redefining Nigeria’s payments landscape and is widely regarded as a global benchmark in instant payment innovation. Building on this foundation, NIBSS is advancing the National Payment Stack (NPS)—Africa’s first ISO 20022-compliant national payments infrastructure. The NPS will eventually succeed NIP, ushering in a new generation of intelligent, secure, data-rich and seamlessly interoperable payments across the country.
NIBSS also credited the Central Bank of Nigeria (CBN) for its sustained regulatory support and enabling policy environment, which have strengthened the payments sector and accelerated financial inclusion.
The SIIPS recognition aligns with standards set by global financial institutions including the World Bank, IMF and BIS. By reaching the Mature tier, NIP now stands among the world’s leading instant payments platforms, meeting advanced benchmarks for security, interoperability and inclusive design.
As Nigeria continues to drive digital payments adoption nationwide, the accolade is a collective milestone for banks, fintechs, payment service providers and all actors within the NIP ecosystem—further solidifying the country’s position as a continental leader in digital finance and payments innovation.
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