National Payment Stack Pilot Hits 153,000 Transactions

In Short

Nigeria’s National Payment Stack (NPS) has processed 153,000 transactions in its pilot phase. NIBSS says it is awaiting approval to formally roll out the system.

What Happened

Nigeria’s National Payment Stack processed 153,000 transactions during a controlled pilot. The update was shared by NIBSS Managing Director and CEO Premier Oiwoh at the launch of the Nigeria Payments System Vision 2028 in Abuja.

The NPS is a shared payments “core”, meaning rails that different players can connect to, so money can move between them (like a common set of roads for banks and fintech apps). NIBSS says the stack is built to support faster transactions, stronger security, and interoperability. Interoperability means different systems can work together, for example a bank app sending money to a fintech wallet without extra steps.

At the event, Oiwoh said technology is only a part of the plan. He argued that execution, affordability, and inclusion will determine whether the NPS and Payments System Vision 2028 succeed.

He also pushed for lower transfer fees, including the idea of zero-rated fees for payments. SANEF CEO Uche Uzeoebo added that financial inclusion goals will be hard to reach if costs stay high and excluded Nigerians cannot access digital financial services.

Why It Matters

If NPS moves from pilot to full rollout, it could change how Nigerian banks, fintech companies, payment service providers, and mobile money operators connect to the national payments infrastructure.

For operators, a more interoperable backbone can reduce failed transfers and “network issues” that frustrate customers. For startups, it could lower integration complexity, but only if onboarding is clear and pricing is sustainable.

The public comments also signal where the debate is heading next. Beyond new rails, regulators and industry leaders are focusing on transaction fees, access, and whether the system truly expands digital payments to more Nigerians.