How Nigeria’s N13.66bn payment error still haunts NIBSS nearly two years later

Businessday | 28-05-2026 01:57am |

Recent disruptions to Nigeria's inter-bank payment system have reignited concerns regarding the stability and resilience of the country's digital payment infrastructure. These issues come nearly two years after a significant payment error involving N13.66 billion, which has continued to impact the operations of the Nigeria Inter-Bank Settlement System (NIBSS). Stakeholders are closely monitoring the situation as they seek to address the vulnerabilities that have emerged in the system, highlighting the ongoing challenges faced by financial institutions in maintaining seamless digital transactions.

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