Nigerian Interbank Settlement System

The Nigerian Interbank Settlement System (NIBSS) is a financial platform that facilitates the smooth transfer of funds between banks in Nigeria. It ensures that transactions between different banks are processed efficiently and securely. For example, if you transfer money from your bank account to someone else's account in a different bank, NIBSS helps complete that transaction quickly. By streamlining payments and settlements, it enhances the overall banking experience, promotes trust among banks, and supports economic activity by ensuring that money flows seamlessly throughout the financial system.