NIBSS spends N150 million monthly on power to keep Nigeria’s payments running

The Nigeria Inter-Bank Settlement Systems (NIBSS) spends at least N150 million monthly on power to keep its operations running, with diesel accounting for about N100 million of the expenditure. This was revealed in a report, highlighting the significant cost of maintaining Nigeria's payments infrastructure. The expenditure underscores the challenges posed by unreliable electricity supply in the country. NIBSS is responsible for inter-bank settlements and payments in Nigeria.

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