The Nigeria Inter-Bank Settlement System (NIBSS) has announced the development of a National Payment Stack, a unified digital backbone for all electronic transactions in Nigeria.
This marks a new dawn for Nigeria’s digital financial landscape as it enters a transformational phase with the first live transaction on the National Payment Stack at exactly 11:56 am on Friday, November 7th, 2025, in a transaction between Palmpay and Wema Bank, which was processed and settled within milliseconds, marking the official activation of the next-generation national payment infrastructure.
The NPS is designed to enable instant, secure, and interoperable payments across banks and fintechs, enhance data security through multi-layer authentication, and support cross-border transactions to strengthen regional and global financial integration.
With the infrastructure, Nigeria is now positioned as a leader in digital financial innovation and will also witness the deepening of financial inclusion and drive the Federal Government’s financial system reform agenda.
It is expected to reduce transaction frictions and boost efficiency, transparency, and trust in the Nigerian electronics payment landscape.
According to the Federal Government, the National Payment Stack is a strategic foundation for inclusive and digital economic growth in Africa’s largest economy.
