NIBSS

Nigeria Inter-Bank Settlement System (NIBSS) Plc was incorporated in 1993 and is owned by all licensed banks and discount houses in Nigeria including the Central Bank of Nigeria (CBN). NIBSS has put in place world-class infrastructures for handling inter-bank payments and settlements in order to remove the bottlenecks and settlement delays associated with retail transactions in the money market. NIBSS also operates an automated clearing technology that facilitates the clearing of cheques, electronic funds transfer, Automated Direct Credits and Automated Direct Debits, among other electronic payment products put in place for the Nigeria financial system. Headquartered in Lagos, NIBSS also has operations offices in seven (7) other commercial cities in Nigeria namely, Abuja, Port Harcourt, Kano, Ibadan, Benin, Ilorin, and Enugu. NIBSS was recently appointed by the Central Bank of Nigeria, as the Payment Terminal Service Aggregator (PTSA) for POS transactions in the country. In its role as the PTSA, NIBSS has successfully carried out test transactions with several banks, and has commenced pilot operations.