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The Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) has urged Nigerian banks to accelerate the adoption of digital payment channels, particularly QR code-based payments, as part of broader efforts to strengthen the country’s financial technology ecosystem.
The call was made during a courtesy visit to the Nigeria Inter-Bank Settlement System (NIBSS) in Lagos, where both organisations discussed payment infrastructure resilience, industry collaboration, and the importance of effective communication during service disruptions.
In a statement issued on Sunday, ACAMB stressed the need for stronger coordination across the banking sector to ensure timely and accurate public communication, especially during incidents involving system downtime.
Leading the delegation, ACAMB President, Jide Sipe, said the association is working to create stronger engagement platforms for banks to collaborate on industry developments and emerging challenges.
“We want to create a space where banks can engage, exchange ideas, and ask relevant questions about growing the industry while effectively managing its challenges,” Sipe said.
He added that ACAMB has continued to engage stakeholders across the financial services ecosystem, including the Chartered Institute of Bankers of Nigeria, to identify opportunities for deeper collaboration and improved industry communication.
According to Sipe, recent service disruptions across the banking sector have underscored the need for more coordinated crisis communication. He proposed a stakeholders’ conference that would connect corporate communications leaders in banks directly with NIBSS to improve response mechanisms during operational incidents.
Responding, NIBSS Managing Director and Chief Executive Officer, Premier Oiwoh, said resilient payment infrastructure remains essential to financial inclusion and economic growth.
“That is why one of the core principles guiding NIBSS is our commitment to financial inclusion. Seamless and efficient payments remain central to what we do, and achieving this requires a payment system that works consistently,” Oiwoh said.
He noted that a reliable payments ecosystem strengthens revenue security, improves customer experience, and accelerates time-to-market for financial products, all of which contribute to broader economic growth.
Oiwoh explained that NIBSS prioritises system stability by monitoring transaction velocity to anticipate potential failures and redistribute processing loads across system environments to minimise downtime.
“As we all know, customers expect payments to be fast, accurate, and flexible,” he said.
He described the NIBSS Instant Payment system as one of Nigeria’s most significant innovations in digital payments, noting that it remains one of the world’s earliest account-based instant transfer systems, having launched nearly 15 years ago.
Oiwoh also highlighted the role of the National Payment Stack in improving transaction efficiency, enabling real-time settlements, supporting cross-border transfers, and expanding financial inclusion.
According to him, the payment infrastructure compares favourably with global systems such as Unified Payments Interface (UPI) in terms of speed, performance, and operational efficiency.
He added that NIBSS continues to play a broader role in improving interoperability among financial institutions, strengthening trust in digital payments, and supporting fraud prevention efforts in collaboration with law enforcement agencies.
On QR-based payments, Oiwoh called for wider adoption of the NIBSS NQR solution, describing it as a low-cost, account-based payment system that allows customers to pay merchants simply by scanning a QR code using their banking applications.
He said the solution offers significant advantages, including instant settlement, immediate transaction notifications, zero onboarding costs for merchants, and lower transaction fees.
“There is no significant infrastructure cost for merchants to get started; businesses simply need to print or display the QR code. Both buyer and seller receive instant transaction alerts, enabling real-time payment confirmation. Most importantly, disputes and chargebacks are significantly reduced,” he said.
He noted that these benefits make QR payments an efficient and scalable solution for advancing contactless payments across Nigeria.
The discussions reflected a broader industry shift toward digital and contactless payment systems, with ACAMB urging banks to scale the deployment of QR-based payment solutions across the financial sector.
Oiwoh added that United Bank for Africa was among the early adopters of NQR, onboarding its point-of-sale merchants to enable seamless cardless payments.
Founded in 1996, ACAMB said it remains committed to promoting professionalism, reputation management, and public confidence within Nigeria’s financial services industry.
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