NPS records 26.55m transactions worth N1.4trn

The National Payment Stack (NPS), Nigeria’s new sovereign payment infrastructure being rolled out by the Nigeria Inter-Bank Settlement System (NIBSS), has processed 26.55 million transactions valued at N1.4 trillion across 48 participating institutions.
NIBSS disclosed this on Tuesday as it provided an update on the early performance and adoption of the National Payment Stack, which is designed to replace the 15-year-old NIBSS Instant Payment (NIP) platform.
First Bank of Nigeria emerged as the leading institution by transaction volume, while Fidelity Bank recorded the highest transaction value. Other major institutions driving early adoption of the platform include Guaranty Trust Ban...